water companiesi also have a very small position in aqe,they had a big signing today
when is seprotech going to announce a big signing.didn't they announce that they obtained 2 great patents over a year ago,who cares if they have these great patents if they don't do anything with them,why not sell them if you are not going to do anything with them,we now have cli and aqe signing big deals while set sits there,
i ask again.what are they doing there anyway?
Aqua-Pure signs $18-million Nomad deal with Eureka
Ticker Symbol: C:AQE
Aqua-Pure signs $18-million Nomad deal with Eureka
Aqua-Pure Ventures Inc (C:AQE)
Shares Issued 45,928,275
Last Close 4/11/2011
.24
Tuesday April 12 2011 - News Release
Mr. Richard Magnus reports
AQUA-PURE ENTERS INTO EXCLUSIVITY ARRANGEMENT WITH EUREKA RESOURCES FOR UP TO
$18 MILLION
Aqua-Pure Ventures Inc. has entered into an exclusivity agreement with Eureka
Resources LLC. of Williamsport, Pennsylvania, for up to $18 million.
Under the agreement, Aqua-Pure will receive an initial payment of $9 million
and up to an additional $9 million in royalty payments based on the amount of
water processed by the three Nomad units currently housed at Eureka's
facility. In exchange, Eureka will assume full ownership and operation of the
three Nomad units and will have certain areas of northeast Pennsylvania as it
exclusive territory. Once payment of the total $18 million is made, Eureka
can choose to continue its exclusivity agreement for an additional $125,000
per unit per year. The agreement also makes provision for further expansion
on mutually agreeable terms.
"We have been working with Eureka for over a year and have been very
impressed with their marketing and operational strength," said Jake
Halldorson, Aqua-Pure's CEO. "I am very confident that Eureka Resources will
continue to grow their highly successful business in the Marcellus Shale.
This agreement gives Aqua-Pure additional capital that strengthens the
Company's financial position as we pursue other interesting and potentially
lucrative opportunities."
"Eureka provides the most cost-effective, and environmentally-sustainable
alternative to wastewater disposal in the Marcellus Shale," said Eureka
President Dan Ertel. "We are the only company currently operating in
Pennsylvania that is exceeding the stringent discharge regulations enacted
last year by the Pennsylvania Independent Regulatory Review Commission. This
agreement demonstrates our confidence in Aqua-Pure's technology and the
potential we believe Eureka exhibits as the leader in this very large
opportunity in the Marcellus."