Bourque Industries Inc (BORK)

[gotmilk]

Bourque Industries Makes Key Strategic Acquisition of Basalt Technology

Bourque Industries will develop basalt-based materials using technology from newly-acquired Basalt Fiber Technologies, LLC.

"This fundamental restructuring is a major leap forward for Bourque Industries.” said John M. Bourque.

“Bourque Industries is ideally positioned to pursue our mission of redefining industry standards by developing revolutionary materials for a wide range of industrial, commercial, and military applications.” said John M. Bourque.

"Bourque Industries entered into an Acquisition Agreement to acquire – through a reverse merger into a wholly-owned Company subsidiary – all of Basalt Fiber Technologies, LLC, in exchange for the issuance of 5.9 million shares of Bourque Industries restricted Common Stock to the target company’s shareholders. Kim D. Southworth, Basalt Fiber Technologies' President and a Director of the Company, owns approximately 75% of the outstanding stock of Basalt Fiber Technologies." said John M. Bourque.

"Basalt Fiber Technologies is developing new technology to produce basalt fiber in quantities far exceeding current production methods and at substantially lower costs. Basalt fiber is made from quarried basalt rock, which is heated and pushed through fine nozzles to create streams of molten rock that solidify into fibers. The resulting product is similar to fiberglass, but is physically stronger and significantly cheaper." said John M. Bourque.

"An inert rock found worldwide – and in great quantities in the western United States – basalt is the generic term for solidified volcanic lava. Basalt is used in the production of fireproof textiles for the aerospace and automotive industries and as a composite to produce a wide range of enhanced, innovative products. Bourque Industries plans to combine basalt with Kryron to develop new materials and applications and to diversify the revenue streams of the Company." said John M. Bourque.