BBRD goo Booommmmm. HOD .0156 Merger news out after close yesterday to be complete by the end of Month. Next week looks good.
Blackbird International Corporation Announces The Acquisition of World Leader in Sea Wave Energy Technology
OAKVILLE, ON, Canada, via ETELIGIS INC., 09/11/2014 - - Blackbird International Corporation (PINKSHEETS: BBRD) is pleased to announce that it has finalized the acquisition of Wave Electricity Renewable Power Ocean (WERPO). It had previously released news that Blackbird shall acquire 100% of the shares of the target company in exchange for restricted stock.
Due to the complexity of merging an American company, regulated in the US jurisdiction with an Israeli company which is subject to its own regulatory procedures, the attorneys representing SDE Inc are making changes to the Agreement by which Blackbird will merge with a company bearing the name Wave Electricity Renewable Power Ocean (WERPO). Shmuel Ovadia explains, “This Company shall own all of SDE’s technology, IP and know-how, as well as all of SDE’s holdings in its subsidiaries, and will be assigned all of SDE’s activity and agreements.”
The Parties are pleased to announce that they have signed the Agreement by which Blackbird acquires all the outstanding shares of Wave Electricity Renewable Power Ocean.
The Agreement is binding and irrevocable and shall become effective September 30, 2014 following a required regulatory delay. There are no further procedures or conditions to be met.
John Pedder, president of Blackbird adds “We both understand that the shareholders are disappointed with the delays that were incurred. These delays were not due to any conflicts in the due diligence process but the parties, Blackbird, SDE Ltd and Wave Electricity Renewable Power Ocean are subjected to external procedural constraints and regulatory body confirmations. The summer vacation period did not always permit all internal and external interested parties to be in sync within this process.’’
Blackbird is very excited by the recent developments at SDE and Wave Electricity Renewable Power Ocean and anticipate additional announcements following the effective date.
AI
