***** NEWS Release [11-25-1998] ********
EMR Microwave Technology Corp - [EMW]
Shares issued 33,059,322
1998-11-24 close $0.46
Wednesday Nov 25 1998
Dr. James Tranquilla reports EMR Microwave Technology has signed a memorandum of understanding with Bateman Project Holdings of Johannesburg, South Africa, which will see both parties proceed to a definitive agreement to jointly market plants and systems incorporating EMR's microwave-based mineral treatment technology.
Bateman Project Holdings is an international engineering, contracting and project management company, operating worldwide to offer a diverse range of technologies and project services to several heavy industries including the minerals processing, petrochemical and environmental protection markets. Bateman employs over 2,500 engineers in 13 offices in North and South America, Southern Africa, Australia, Europe and the Middle East and is one of the largest and most respected companies in its field. Bateman customers include many of the largest mining companies in the world.
The agreement calls for the parties to jointly market an integrated demonstration plant to a mining producer as soon as possible.
The MOU allows for EMR to retain ownership of its intellectual property already developed and to be the sole owner of any intellectual property developed in the course of the commercialization of its technology. Bateman, upon making a significant equity investment, will become the preferred engineering supplier to the
mining industry for EMR's mineral pretreatment technology. Bateman will provide process engineering design for the scale-up and commercialization of EMR's technology.
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