Romana Food Brands Corp (RFBC)

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PR Just out


MacReport Media   "Press Releases"
OAKVILLE, ON , United States , via eTeligis Inc., 06/25/2014 - - Black
bird International Corporation (PINKSHEETS: BBRD) is pleased to announce that it is in the final stages of the acquisition of SDE Ltd. It had previously released news that it had exchanged a Letter of Intent with SDE Ltd for purposes of a merger. Blackbird shall acquire 100% of the shares of the target company in exchange for restricted stock.

"We are delighted to announce that following the recent exchange of a mutually acceptable Letter of Intent to acquire the outstanding shares of SDE Ltd , all necessary due diligence has been successfully completed by both Parties," states JohnPedder, president."The last remaining procedural item is the signing of a definitive agreement and share exchange. This is the final stage of the negotiations and both companies are committed and on track to close the transaction by the beginning of July. There will be no change in the current authorized and issued capital of the company as we had adjusted our equity base earlier in the year in order to elicit merger options. As stated previously, this new opportunity represents a complete change of direction for the company and the chance to create long lasting shareholder value. We are very excited by the growth prospect provided by SDE Ltd world leading technology. The shareholders will be kept informed of developments."

Mr. Shmuel Ovadia, CEO, S.D.E. Ltd , added,"We are 100% committed to this merger and it fits perfectly into our strategic plans providing the type ofdynamic opportunity for growth that onlyequity and capital markets can provide. Our technology is world leading and timely. We will provide more comprehensive updates to existing and potential shareholders following the merger transaction."

About SDE Ltd.
S.D.E.'s technology is based on the utilization of sea waves to yield hydraulic pressure that produces electricity while exploiting the full potential of wave speed, height, depth, rise and fall, and currents beneath the surface of the water. Scientists from around the world claim that using 1% of wave energy can provide the equivalent electricity of 500 times the world energy consumption. Energy density in waves is high compared with other renewable energy sources such as wind power and solar power. Over a year, the energy output is approximately 3 times that of solar or wind technology.

Results and experimental fieldwork conducted in Israel and abroad indicate that the energy production from sea waves by SDE's technology cost of 2-6 cents for 1KW, a significantly lower cost compared to other renewable energy technologies (for example, wind energy -- 12 cents , Solar Energy 16 cents ).

In addition, SDE's technology allows an annual output of 65% -- significantly higher yield compared to other renewable energies (wind energy -- an annual output of 24%, solar energy an annual output of 22%). One added benefit of the technology, says the company, is that it bears low production costs of 2 cents per kilowatt-hour only, though governments are willing to pay between 8 and 44 cents per kWh for use of the system.

SDE was selected by a team of international scientists as number one in the world in Sea Wave Energy Technologies, numbers six in Tidal Energy and River Energy, and was ranked as one of the Top 100 Clean Energy Technologies. SDE hadbeen invited to Ecuador by the minister ofrenewable energy and electricity to come and introduce its unique technology. Ecuador has special interest in building Sea Wave power plants in differentprotected fragile sites around the Galapagos Island such as Isla Santa Cruz , Isla Isabela , Isla San Cristobal , IslaBaltraand IslaFloreana.

The Israeli companywith itsproven track record of installations across the globe has several projects around the world with government entities as well as with the private sector. SDE has established 11 joint ventures with local partners in 9 different countries including a second project in China .

http://www.greentechmedia.com/industry/read/sde-energy-ltd-named-world-leader-in-sea-wave-energy-technolo-58957