RE: KaiserAquarius Coatings Inc. announces receipt of interest in Bioversion Industries Inc.
TORONTO, Nov. 21 /CNW/ - Aquarius Coatings Inc (TSX-V: AQC) announcedtoday that it has received an equity position of 7 1/2%, representing1,418,919 shares of Bioversion Industries Inc., of Mississauga, Ontario. The shares were received for services rendered by senior officers of AQC,and have an issued value of $283,784. Bioversion is a private Canadian Company, founded in 2005, to construct,own, and operate ethanol plants on a global basis. Bioversion is utilizing anexclusive patented technology owned by Woodland Chemical Systems Inc. Woodland utilizes Biomass such as wood waste, or other organic materials,as the fuel stock. This provides a very significant cost advantage overtraditional ethanol production methods, such as corn fermentation. Woodland is a privately owned Mississauga; Ontario based Company,established in 2000, and the owner of the various patents and patents pendingsurrounding the technology. Through Bioversion, Woodland has commenced the'Detailed Project Analysis' design of the first commercial scale plant, to belocated in Eastern Canada, and which is subject to a confidentialityagreement. Bioversion, which is 42% owned by Woodland, has recently agreed to become100% owned by Woodland, through a share exchange transaction, the details ofwhich are currently under negotiation. David J. Hennigar, Chairman, Director and largest shareholder of AquariusCoatings Inc. is a Director and Shareholder of Bioversion Industries Inc. N. Gary Van Nest, a Director and Shareholder of Aquarius Coatings Inc.,is also Chairman, Director, and a Shareholder of both Bioversion and Woodland. The TSX Venture Exchange has not reviewed nor accepts responsibility for the adequacy or accuracy of this release.