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Gold/Mining/Energy : Lithos Corporation (M.lts) -- Ignore unavailable to you. Want to Upgrade?

To: labbe who wrote (414)	5/4/2000 7:46:00 AM
From: Bob Fairchild	Respond to of 415

"With its first acquisition project - Limtech Secures a World-Wide Distribution Network" QUEBEC CITY, May 4 /CNW/ - Limtech Lithium Metal Technologies Inc today announced that it has signed a letter of agreement to purchase a private company complementary to its industrial business operations. The acquisition has a ten year history in the sale of lithium derivatives and other high added value fine chemicals, and its own product distribution network spanning world-wide. The company is profitable and this could increase Limtech's annual revenues by about 8 million dollars. The arm-length acquisition will be payable in Limtech stock at a rate of 0.94$ per share. The price is based on the Limtech shares value at the close of trading on April 14, 2000, less the 20% devaluation allowed by the Exchange in the case of a private placement. The number of shares that will be issued in return for the acquisition will be established by independent expert valuation. Due diligence will be carried out by both parties in the following weeks, and independent valuation, are the main conditions to the completion of the transaction. The transaction is subject to the approval of the Montreal Exchange, of the boards of the two societies and possibly of Limtech shareholders if the dilution is superior to 25% of the current venture capital. Both parties have agreed to complete their respective due diligence by June 30, 2000. Once the acquisition is completed, it will enable a rapid increase in its international sales volume. ``This transaction reflects our corporate vision of creating partnerships and developing additional and complementary products,'' stated Limtech Executive Vice-President, Louis Lessard. Limtech Lithium Metal Technologies Inc. is a company registered on the Montreal Exchange since 1995 (LTC) that manufactures lithium carbonate that is world-renowned for its high purity.