 |
 | |
 |  |
| We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level. |
Shares Halted while a change in Direction is in Progress !!! President to Acquire Two Profitable International Medical and Scientific Product Companies ------------------------------------------------------------------------ July 13th, 1999 President Mines Ltd. ("President") announces it has entered into a letter of intent with Zuring AG ("Zuring") and Guest Elchrom Scientific AG ("Guest Elchrom") pursuant to which President will acquire 100% of the shares of Guest Elchrom and 100% of the shares of Guest Medical Limited (UK) for total consideration of US $ 5,081 895 plus two additional performance based payments relating to net profits after 12 months and 24 months. The acquisitions include all assets of both companies and all intellectual property, international marketing and distribution rights, and proprietary technologies and products related to current operations. The acquisition price will be paid part in cash, part in debt, and part through the issuance of shares in President. A finder's fee is payable to a third party. As part of the transactions President has agreed to undertake a 4:1 share consolidation. Guest Elchrom is headquartered in Switzerland, and Guest Medical Limited is headquartered in the United Kingdom. Both companies sell internationally and specializes in the manufacture and sales of clinical laboratory and medical products for the world-wide hospital, pharmacy, and physician practice markets. As part of this transaction, President will undertake to change its name to better reflect its core business which will be to build a consolidated international medical and scientific products company through acquisitions, synergistic relationships, and joint ventures. It further intends to capitalize on benefits and opportunities that will arise due to horizontal amalgamation of international operations, and integration of innovative new technologies and products. The above transactions are subject to a number of conditions, including the obtaining of Vancouver Stock Exchange and all regulatory approvals. Further updates on the progress and status of this transaction will become available in the near future from the company and will also be available at President's website address: presidentmines.com PRESIDENT MINES LIMITED By: "S. David Anfield" | ||||||||||||||
|
| Home | Hot | SubjectMarks | PeopleMarks | Keepers | Settings |
| Terms Of Use | Contact Us | Copyright/IP Policy | Privacy Policy | About Us | FAQ | Advertise on SI |
| © 2025 Knight Sac Media. Data provided by Twelve Data, Alpha Vantage, and CityFALCON News |