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Torq Resources Inc V.TORQ

Alternate Symbol(s):  TRBMF

Torq Resources Inc. is a Canada-based copper and gold exploration company with a portfolio of holdings in Chile. The Company's projects include Santa Cecilia and Margarita. The Santa Cecilia mineral exploration project is a 3,250-hectare property located approximately 100 kilometers (kms) east of the city of Copiapo, Chile, in the southern region of the world-class Maricunga belt and immediately north of the El Indio belt. The belt is characterized by gold epithermal and gold-copper porphyry deposits. The Margarita Iron-Oxide-Copper-Gold (IOCG) project is comprised of approximately 1,445 hectares and is located in Chile, 65 kms north of the city of Copiapo with access to infrastructure. The property is located within the prolific Coastal Cordillera belt that hosts the world-class Candelaria (Lundin Mining Corp.) and Mantoverde (Mantos Copper Holding) IOCG mines, and porphyry-skarn deposits such as Santo Domingo (Capstone Mining Corp.) and Inca de Oro (PanAust/Codelco).


TSXV:TORQ - Post by User

Bullboard Posts
Post by culzeanon Feb 27, 2006 8:51am
159 Views
Post# 10428018

News,Sirit buys RFID company.

News,Sirit buys RFID company.Sirit Inc. to Acquire TradeWind Technologies LLC Deal expands RFID product portfolio and augments engineering capabilities TORONTO, Feb. 27 /CNW/ - Sirit Inc. (TSX: SI), a leading provider of radio frequency identification (RFID) technology, has signed a definitive agreement to acquire Tennessee-based TradeWind Technologies LLC. TradeWind develops and manufactures RFID readers and technology with an emphasis on high frequency (13.56 MHz) operation, modular architectures, as well as cost- effective and compact form factors. The acquisition of TradeWind will bring to Sirit a product line of flexible "plug and play" RFID readers ideally suited to a number of closed loop applications including contactless/cashless payments, asset management, retail and high value product authentication, and inventory management. In addition, Sirit further strengthens its technological capabilities through the addition of a highly skilled engineering team and broad based intellectual property portfolio. The purchase price payable by Sirit will be a combination of cash and Sirit common shares estimated at just under C$2,000,000. The transaction is subject to receipt by Sirit of all requisite regulatory approvals including the approval of the Toronto Stock Exchange and Fis expected to close within 60 days. "As we increase our focus on closed loop opportunities, TradeWind's products and technology will complement our existing line of embedded RFID modules," commented Norbert Dawalibi, President and CEO, Sirit Inc. "The acquisition of TradeWind will offer quick to market solutions which protect end user investments in everyday business devices like smartphones, PDAs and PCs and create innovative new use cases with compelling ROI and benefits." "We are very pleased with the addition of the TradeWind team to Sirit,' continued Dawalibi. "We have been very impressed with the level of engineering expertise of the TradeWind team and look forward to leveraging their skills and intellectual property across the combined product portfolio." "Our team is extremely excited about this transaction and looks forward to making a positive contribution to the success of Sirit. We feel that the cultures of the organizations are well aligned facilitating a rapid and smooth integration of our businesses," said Douglas Yeager, President of TradeWind. "Together, with our combined product base and technological expertise, we are very well positioned to grow our products into new markets and capitalize on new opportunities." About TradeWind Technologies LLC TradeWind develops and manufactures flexible and low-cost advanced radio frequency identification (RFID) systems for OEMs, VARs and Systems Integrators to meet the demands of emerging RFID markets worldwide. TradeWind's RFID systems support a full range of ISO and industry standard RFID tags and smart labels. TradeWind Technologies LLC is based in Oak Ridge, Tennessee. About Sirit Inc. Sirit Inc. (TSX: SI) is a leading provider of Radio Frequency Identification (RFID) reader technology worldwide. Harnessing the power of Sirit's enabling-RFID technology, customers are able to more rapidly bring high quality RFID solutions to the market with reduced initial engineering costs. Sirit's products are built on more than 12 years of RF domain expertise addressing multiple frequencies (LF/HF/UHF), multiple protocols and are compliant with global standards. Sirit's broad portfolio of products and capabilities are easily customized to address new and traditional RFID market applications including Supply Chain & Logistics, Cashless Payment, Access Control, Automatic Vehicle Identification, Inventory Control & Management, Asset Tracking and Product Authentication. For more information, visit www.sirit.com.
Bullboard Posts