Wastech, Inc. to Acquire Additional Energy Assets
CHARLESTON, S.C., Jun 29, 2006 (PRIMEZONE via COMTEX) -- Wastech, Inc. (Pink Sheets:WTCH) (the "Company"), today announced a $1.7 Million deal to acquire approximately 600 acres of mineral rich property in southern Illinois. The Company would not yet define the exact location of the property prior to closing, however will disclose that the property will be the subject of a coal reclamation, refining and combustible fly ash storage operation, over a 10-12 year period, yielding gross revenues, exclusive of tax credits and integrated alternate energy prospects, of $13-16 Million.
Wastech plans a more detailed press release prior to the close of business today.
About the Company
Wastech, Inc. is an Oklahoma-based, public holding company, with investments in energy assets and proprietary waste management technologies, specializing in alternate means of collecting, transporting, and disposing of liquid and solid bearing wastes, as well as, integrated waste to energy programs, utilizing environmentally friendly, cutting-edge conversion systems. Wastech currently utilizes 8 patents in its business pursuits, and owns approximately 50,000 acres of coal, coal-bed methane, and oil and gas rights across the mineral rich state of West Virginia.
