OTCQX:SREMF - Post by User
Post by
crytonon Oct 15, 2003 12:00am
460 Views
Post# 6526225
November the 24th
November the 24th Vote.
Plus:
To make it clear:
As it seems unclear to some. In one and the same breath in the NR Cel Loc the company talks about itself being transformed into an oil and gas company. In effect Cell Loc(the company name) will no longer exist. Our shares such as they are will be converted on a one for one basis into techco shares. Sheldon Reid will be on the board of the new oil and gas venture but you and I will not own shares in it as our existing shares flow through to Techco and a whole new bunch of shares already underwritten will go on the market when the two companies list on the TSX V.
What we own essentially is this: Of cource we do get to vote on Nov 24th not much choice really but to vote yes.
CALGARY, ALBERTA, Sep 25, 2003 (CCNMatthews via COMTEX) --
Cell-Loc Inc. ('Cell-Loc'or the 'Company') (TSX: CLQ) announced today that it has entered into an agreement with an investor group led by Grant Billing to recapitalize and reorganize its business. Pursuant to the agreement, Cell-Loc's existing technology
assets will be transferred to a subsidiary company ('Techco'), all of the shares of which will then be distributed to Cell-Loc's existing shareholders (on a share-for-share basis),
1 Cell Loc share replaced with 1 techco share at the then market price and we also get $2.5 million working capital.
All sounds nice still with no customers!!! Exactly bottoms up.