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Sanofi goes hostile with Genzyme bid
By CNNMoney.com staffOctober 4, 2010: 4:39 AM ET
LONDON (CNNMoney.com) -- French drugmaker Sanofi-Aventis is going hostile with its $18.5 billion takeover bid for rival Genzyme, accusing Genzyme's board of refusing to engage in "meaningful discussions."
Sanofi (SNY) said Monday that its efforts to work with the board of Genzyme (GENZ, Fortune 500) have been "blocked at every turn" and that as a result, it was taking its all-cash offer of $69 a share directly to the shareholders of the U.S. biotech firm.
In a statement, Sanofi said the chief executives of both companies met on Sept. 20, but that the meeting was "unproductive."
Sanofi first sent Cambridge, Mass.-based Genzyme a letter offering to buy it for $69 a share in cash on July 29. The bid represented a 38% premium over Genzyme's closing price on July 1.
Sanofi went public with its offer in August after being rebuffed by Genzyme. The French company hinted at the time that it might consider a hostile takeover if Genzyme refused to participate in discussions.
Want to catch gold fever? Try an ETF
By Hibah Yousuf, staff reporterOctober 4, 2010: 4:45 AM ET
NEW YORK (CNNMoney.com) -- In case you haven't heard, gold has been on a record-breaking run recently. Want to get in on the action? Try an ETF.
Instead of buying gold bars or coins and worrying about expensive security and storage issues, an increasing number of investors -- both individual and institutional -- are buying shares of gold-related exchange-traded funds, or ETFs.
ETFs are securities that track an index fund, commodity or a basket of assets and trade on an exchange, similar to stocks.
Since its inception seven years ago, the gold ETF market has grown to more than $81 billion. In fact, investment demand in the second quarter surged 414%, compared with a year earlier, according to the World Gold Council.
Even hedge fund heavyweights like John Paulson, who earned his Paulson & Co. fund billions when he bet against the housing bubble, Eric Mindich of Eton Park Capital Management, and George Soros of Soros Fund Management are enjoying the gold frenzy.
The three are among the top shareholders of SPDR Gold Trust (GLD), which has $54.7 billion in assets and is the second-largest ETF, lagging only behind the SPDR S&P 500 (SPY), which tracks the S&P 500 index.
Gold ATMs coming to America
"SPDR Gold Trust provides the most efficient way to get access to gold," said Bob Browne, chief investment officer at Chicago's Northern Trust, the second-largest holder of the fund. "It has exposure to physical gold, so it has the most liquidity and transparency. There aren't any surprises, and we like that."
Even though gold has been rushing to record levels nearly every day for the past several weeks (it settled at a new high of $1,317.80 an ounce on Friday), experts say the yellow metal remains a solid long-and short-term investment.
"Gold should play a core role in any diversified portfolio," said Browne, who started scooping up gold ETF shares in the middle of 2009. He says investors who have a moderate tolerance for risk should allocate about 5% of their investment toward gold. "It tends to do well when nothing else is," he said
Gold was rising even prior to the recession, climbing more than 180% over the last five years. Recent panic over the health of the U.S. and global economies and fears that massive amounts of government stimulus may trigger hyper inflation have given prices a fresh lift. That's because gold is seen as a 'safe haven' during times of turmoil.
And as a sluggish recovery and ballooning budget deficits continues to pressure the dollar, experts say gold will continue to push higher and could reach $1,500 an ounce over the next year. Some are even more bullish, suggesting that the precious metal could soar over $2,000 an ounce. Despite the rising forecasts, most experts dismiss the chatter about gold becoming the next bubble.
"I'll be watching for it, but I don't think we're anywhere near a bubble," said Raj Sharma, managing director and private wealth advisor in the private banking and investment group at Merrill Lynch in Boston. "Until you go to a cocktail party and everyone says they're invested in gold, you're okay. That's just not the case yet."
Sharma recommends his clients allocate two-thirds of their gold investment to physically-backed gold ETFs and the remainder to ETFs that track gold mining companies, like Market Vectors Gold Miners ETF (GDX), since they reap high returns when gold prices rise. Market Vectors has even outpaced the rise of gold prices over the last month.
European Stocks Decline for Sixth Day; Pirelli, Daimler Drop
October 04, 2010, 5:20 AM EDT
By Adam Haigh
Oct. 4 (Bloomberg) -- European stocks retreated for a sixth day, the longest stretch of losses since January 2009, after last week falling the most in three months. U.S. index futures declined, while Asian shares gained.
Pirelli & C. SpA and Daimler AG led a retreat in auto shares. Gas Natural SDG SA lost 3.4 percent after saying a ruling related to a gas dispute with Algeria’s Sonatrach may reduce profit by as much as 450 million euros ($619 million). Inmarsat Plc slid 2.5 percent after the Sunday Times reported Harbinger Capital Partners is preparing to sell a third of its stake in the provider of satellite services.
The Stoxx Europe 600 Index sank 0.7 percent to 257.38 at 10:16 a.m. in London, as all 19 industry groups declined. The gauge fell 1.9 percent last week amid concern the European economy is slowing as the sovereign-debt crisis curbs growth, extending the decline from this year’s high in April to 4.8 percent. The index rallied 6.7 percent in the third quarter on speculation the Federal Reserve and other central banks will step in to provide more stimulus for the ailing recovery.
“There’s concern still about an overhang, about a double dip in the U.S.,” said Philip Poole, the London-based global head of macro and investment strategy at HSBC Global, which oversees more than $400 billion.
The MSCI Asia Pacific Index gained 0.1 percent today, while futures on the Standard & Poor’s 500 Index expiring in December fell 0.6 percent.
U.S. Economy
In the U.S., a report today may show the number of contracts to purchase previously owned homes increased in August for a second month, a sign the housing market is stabilizing.
The National Association of Realtors’ index of pending home resales rose 2.8 percent in August after a 5.2 percent gain the prior month, according to the median forecast of 30 economists surveyed by Bloomberg News. A separate report may show a transportation equipment-led decline in factory orders.
China’s non-manufacturing industries expanded at a faster pace in September. A purchasing managers’ index released yesterday by the China Federation of Logistics and Purchasing rose to 61.7 from 60.1 in August. The data follow a jump to a four-month high for the manufacturing PMI announced on Oct. 1.
China will address “structural problems” and stabilize its economy by increasing domestic demand, Premier Wen Jiabao said in an interview with CNN broadcast yesterday. Wen said he’d argued before the global recession that China’s economic development “lacks balance, coordination and sustainability.”
Pirelli, Daimler
Pirelli, Europe’s third-largest tiremaker, retreated 2.2 percent to 5.83 euros. Daimler, the second-biggest maker of luxury cars, lost 2.9 percent to 44.21 euros. A measure of auto shares dropped 2.3 percent, the biggest decline among 19 industry groups.
Gas Natural lost 3.5 percent to 10.37 euros after saying a ruling related to a gas dispute with Sonatrach may lead to a reduction in 2010 profit of as much as 450 million euros should its challenges fail. Gas Natural said the decision of the arbitration panel was “abusive” and the company is trying to challenge it.
Inmarsat slipped 3.6 percent to 644.5 pence. Harbinger Capital Partners is preparing to sell a third of its stake in the provider of satellite services as it seeks to raise money to invest in other companies, the Sunday Times reported, without saying where it got the information. Harbinger will sell about 300 million pounds ($474 million) of shares, reducing its stake from just under 30 percent to 20 percent, the newspaper said.
Wellstream Holdings Plc rose 2.2 percent to 790.5 pence after the Sunday Times said General Electric Co. made a bid worth more than 800 million pounds for the oilfield-services provider, citing unidentified people close to the matter. Wellstream hired Rothschild & Sons Ltd. and Credit Suisse Group AG as advisers, it said.
SEB AB, Sweden’s third-biggest bank by market value, advanced 1.1 percent to 50.1 kronor as JPMorgan Chase & Co. upgraded the shares to “overweight” from “neutral.”
--Editors: Andrew Rummer, David Merritt.
To contact the reporter on this story: Adam Haigh in London at ahaigh1@bloomberg.net
To contact the editor responsible for this story: David Merritt at dmerritt1@bloomberg.net.
Malaga Financial Corp. Announces Cash Dividend
Oct. 3, 2010 (Baystreet.ca) --
PALOS VERDES ESTATES, Calif -- Malaga Financial Corporation (OTCBB:MLGF). The Board of Directors of Malaga Financial Corporation announced today the declaration of a cash dividend in the amount of 10 cents per share to shareholders of record on Oct. 18, 2010. According to Randy Bowers, President and CEO, the dividend will be paid out on or about Oct. 20, 2010. This dividend represents the 25th consecutive quarterly cash dividend paid by the company. The company's subsidiary, Malaga Bank, continues to be well capitalized and credit quality remains high.
Malaga Bank is a full-service community bank headquartered on the Palos Verdes Peninsula with branch offices located on the Peninsula, in Torrance and now in San Pedro. For 25 years, Malaga has been delivering not only competitive banking services to residents and businesses of the South Bay, but also real estate loan products custom-tailored to consumers and investors. As the largest community bank in the South Bay, Malaga is proud of its continuing tradition of relationship-based banking and legendary customer service. The Bank's web site is located at www.malagabank.com.
SOURCE: Malaga Financial Corporation
Malaga Financial Corporation Randy Bowers President and Chief Executive Officer (310) 375-9000 rbowers@malagabank.com
Source: Accesswire (October 3, 2010 - 12:30 AM EDT)
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AllPennyStocks.com Announces October 4th to October 8th U.S. Penny Stocks 2 Watch (NACF.PK, MDFI.OB)
Oct. 3, 2010 (Baystreet.ca) --
MISSISSAUGA, ON, October 1, 2010 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com), a leading penny stock / small-cap information site, released its October 4th to October 8th, 2010 U.S. Penny Stocks to Watch.
American Penny Stocks to Watch:
National Clean Fuels Inc. (Pink Sheets: NACF)
National Clean Fuels, Inc. (NACF) commercializes cutting-edge clean energy technologies. National Clean Fuels, Inc. is an emerging industry player capitalizing on its understanding of clean energy technology and supporting the development of alternative energy plans for corporations and government entities.
Medefile International Inc. (OTCBB: MDFI)
Headquartered in South Florida, MedeFile has a proprietary system for gathering and digitizing medical records so that individuals can have a comprehensive record of all of their medical visits. MedeFile's primary product is the MedeFile system, a highly secure system for gathering and maintaining medical records. The MedeFile system is designed to gather all of its members' actual medical records and create a single, comprehensive medical record that is accessible 24 hours a day, seven days a week.
You can view the American Stocks to Watch in more detail by going here: http://www.allpennystocks.com/aps_us/stocks2watch/stocks2watch.aspx.
About AllPennyStocks.com Media Inc.:
AllPennyStocks.com is focused on the small-cap / penny stock market and has become a reputable name in the investment community. AllPennyStocks.com runs a Canadian and US site to provide investors in Canada as well as the United States with informative and unique content and information. AllPennyStocks.com runs weekly penny stocks to watch, has a daily market write-up, provides company spotlights, runs a unique most active pages strictly for penny stocks trading on the TSX, TSX Venture, Nasdaq and OTC BB, and much more information for the average investor.
AllPennyStocks.com also runs an email newsletter that aims to uncover stocks that are still under the radar of most investors. Criteria AllPennyStocks.com looks for includes strong revenues, a seasoned management, innovative business plans, among many others. AllPennyStocks.com also looks for companies that announce breaking news, recent 52-week highs/lows, technical breakouts, and other favorable corporate information.
Investors are encouraged to subscribe to the AllPennyStocks.com FREE e-mail newsletter and see what tens of thousands of other investors have already been receiving since 1999. Investors can receive their free newsletter subscription by clicking here: http://www.allpennystocks.com/aps_common/newsletter_free.asp.
Contact:
AllPennyStocks.com Media, Inc.
Peter Szafranski - President
Phone: 905-361-5680
E-Mail: peter@allpennystocks.com
Note: AllPennyStocks.com has not received compensation for carrying the other above-mentioned companies; a full disclaimer can be viewed here: http://www.allpennystocks.com/aps_common/disclaimer.asp.
Source: Accesswire (October 3, 2010 - 12:17 AM EDT)
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MoneyTV with Donald Baillargeon, 10/1
Oct. 1, 2010 (Marketwire) --
LOS ANGELES, CA -- (Marketwire) -- 10/01/10 -- Airport security, E-book and entertainment, helping kids, stock market enthusiasm, mortgage rates, bond yields; this week on MoneyTV with Donald Baillargeon. MoneyTV is the internationally syndicated television program all about money and what makes it happen, (http://www.moneytv.net), featuring informative interviews with company CEOs, providing insights into their operations and outlooks for their futures.
Free information packages from the featured companies can be requested by sending an email to info@moneytv.net.
The television program can also be viewed online immediately at www.moneytv.net.
Featured companies on this week's program include:
IDO Security, Inc. (OTCBB: IDOI) CEO Michael Goldberg talked about the company's security device which permits airport passengers to be screened without removing their shoes.
WOWIO, Inc. CEO Brian Altounian described the many innovations the company has implemented into their e-book and entertainment business model.
The Green Baron Report Editor-in-Chief Matt Chipman discussed stock market enthusiasm in advance of the November elections.
Lift Up America President Eric Hannah talked about the step by step process to help kids succeed and accepted a gift of company stock from WOWIO, Inc.
The Mortgage Minute Guy Roger Schlesinger announced record low rates.
RBC Wealth Management Senior VP Irwin Shapiro spoke of 5% tax-free bonds.
MoneyTV debuted in 1996 and is broadcast internationally in more than 170 million TV households in over 70 countries.
A complete menu of TV listings is available at the MoneyTV web site, http://www.moneytv.net.
MoneyTV Executive Producer and Anchor Don Baillargeon is also the host of MoneyRap Radio, http://www.moneyrap.com and the television program Health This Week, http://www.healththisweek.com.
MoneyTV television program, Copyright MMX, all rights reserved. MoneyTV does not provide an analysis of companies' financial positions and is not soliciting to purchase or sell securities of the companies, nor are we offering a recommendation of featured companies or their stocks. Information discussed herein has been provided by the companies and should be verified independently with the companies and a securities analyst. MoneyTV provides companies a 3 to 4 month corporate profile with multiple appearances for a cash fee of $11,500.00 to $17,250.00, does not accept company stock as payment for services, does not hold any positions, options or warrants in featured companies. The information herein is not an endorsement by Donald Baillargeon, the producers, publisher or parent company of MoneyTV.
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Donald Baillargeon
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Source: Marketwire (October 1, 2010 - 5:00 AM EDT)
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Searchlight Minerals Corp. Announces Passing of Director Harry B. Crockett
Oct. 1, 2010 (Marketwire) --
HENDERSON, NV -- (Marketwire) -- 10/01/10 -- Searchlight Minerals Corp. (OTCBB: SRCH) ("Searchlight," "SMC" or the "Company") today announced that Harry B. Crockett, a member of the Company's Board of Directors since February 2007, passed away on September 29, 2010.
Mr. Crockett was the managing member of Verde River Iron Company, LLC, a private Nevada limited liability company that was Searchlight Minerals' prior joint venture partner on the Clarkdale Slag Project and the prior owner of the Clarkdale Slag Project. He served as a court-appointed receiver for various Superior Courts throughout California for more than 15 years. Mr. Crockett previously served as an Executive Vice President of American Savings, specializing in troubled debt and assets, and he served as Chairman of the Make a Wish Foundation in San Joaquin County, a charitable foundation serving the needs of terminally ill children. Mr. Crockett held a Bachelor of Arts degree from Golden State University in San Francisco and a California Real Estate Brokers license. He was also a pilot with single- and multi-engine land and instrument ratings.
"It is with great sadness that we announce Harry's passing last night, following an extended and courageous battle with a variety of illnesses during the past several months," stated Ian McNeil, Chief Executive Officer of Searchlight Minerals Corp. "He contributed greatly to our Board of Directors and shared with us his extensive knowledge of the history of Clarkdale and the slag pile that was derived from the rich copper and gold deposits in Jerome, Arizona. We will miss him greatly, and our thoughts and prayers are with his wife, Marcia, and the rest of his family."
About Searchlight Minerals Corp.
Searchlight Minerals Corp. is an exploration stage company engaged in the acquisition and exploration of mineral properties and slag reprocessing projects. The Company holds interests in two mineral projects: (i) the Clarkdale Slag Project, located in Clarkdale, Arizona, which is a reclamation project to recover precious and base metals from the reprocessing of slag produced from the smelting of copper ore mined at the United Verde Copper Mine in Jerome, Arizona; and (ii) the Searchlight Gold Project, which involves exploration for precious metals on mining claims near Searchlight, Nevada. The Clarkdale Slag Project is the more advanced of two ongoing projects that the Company is pursuing. The Searchlight Gold Project is an early-stage gold exploration endeavor on 3,200 acres located approximately 50 miles south of Las Vegas, Nevada.
Searchlight Minerals Corp. is headquartered in Henderson, Nevada, and its common stock is listed on the OTC Bulletin Board under the symbol "SRCH." Additional information is available on the Company's website at www.searchlightminerals.com and in the Company's filings with the U.S. Securities and Exchange Commission.
Forward-Looking Statements
This Press Release may contain, in addition to historical information, forward-looking statements. Statements in this Press Release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" in the Company's periodic filings with the Commission. When used in this Press Release in discussing the recent developments on the Project, including, without limitation, the resolution of certain issues relating to the operation of the production module, the words such as "believe," "could," "may," "expect" and similar expressions are forward-looking statements. The risk factors that could cause actual results to differ from these forward-looking statements include, but are not restricted to technical issues on the Project that may affect the production module and its primary process components, challenges in moving from pilot plant scale to production scale, the risk that actual recoveries of base and precious metals or other minerals re-processed from the slag material at the Clarkdale site will not be economically feasible, uncertainty of estimates of mineralized material, operational risk, the Company's limited operating history, uncertainties about the availability of additional financing, geological or mechanical difficulties affecting the Company's planned mineral recovery programs, the risk that actual capital costs, operating costs and economic returns may differ significantly from the Company's estimates, uncertainty whether the results from the Company's feasibility studies and the results from the operation of the production module are not sufficiently positive for the Company to proceed with the construction of its processing facility, operational risk, the impact of governmental and environmental regulation, financial risk, currency risk volatility in the prices of precious metals and other statements that are not historical facts as disclosed under the heading "Risk Factors" in the Company's periodic filings with securities regulators in the United States. Consequently, risk factors including, but not limited to the aforementioned, may result in significant delays to the projected or anticipated production target dates.
Contact Information:
RJ Falkner & Company, Inc.
Investor Relations Counsel
(800) 377-9893
Email Contact
Source: Marketwire (October 1, 2010 - 12:36 AM EDT)
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Tootie Pie Adds Another Upscale Grocer
Sep. 30, 2010 (Baystreet.ca) --
SAN ANTONIO -- Tootie Pie Company Inc. (OTCBB:TOOT) announced that Tootie Pies are now carried in Crescent Market, an upscale grocer located in Oklahoma City, OK.
"A Gourmet Tootie Pie in a gourmet grocer is exactly the combination we are seeking. We are pleased to continue our expansion into upscale operations with the addition of Crescent Market, a recognized and valued gourmet grocer" said Don Merrill, President & CEO.
"Crescent Market has been providing the finest gourmet selection, in an equally appealing upscale environment, for over 100 years. We cater to the discriminating tastes of our customers by providing them with the best products available in any given category. We think our customers will love Tootie Pie as much as we do" said Tony McGuffee, Store Manager of Crescent Market.
"Premium food establishments are recognizing the value of attracting a Tootie Pie customer. Many grocery managers tell us that what they like about our customer is that she buys a ribeye steak, a nice bottle of wine and a Tootie Pie for her gathering. In these times, when so many operations are focused on delivering lower prices by offering lower quality, customers that buy Tootie Pies want high quality and are willing to pay for higher quality. Many upscale food establishments seek to increase sales to these customers and more customers are rewarding these operations with increased business" added Merrill.
About Crescent Market: Oklahoma's #1 gourmet grocer, serving up "Good Things to Eat" since 1889. Crescent Market is known for its red carpeting, antique furniture and fireplace, as well as for providing its loyal customers with the finest selection of gourmet fine foods, a large meat market and shelves of specialty items from around the world.
This Oklahoma City favorite also continues the tradition of providing customer charge accounts. The store has maintained charge accounts since it began, and now has over 850 active accounts, many who are 2nd and 3rd generation customers; with relationships forged across decades of loyal family shoppers. Customers are still greeted by a smile from familiar faces and served complimentary hot coffee and cookies.
The Crescent Market is located in Nichols Hills Plaza at 6409 Avondale Drive, close to the intersection of NW 63rd and North Western Ave. Telephone (405) 842-2000 or order through www.thecrescentmarket.com
About Tootie Pie Co.
Tootie Pie Company bakes and sells high-quality, handmade pies through three basic sales channels: retail, corporate and wholesale. The retail segment serves individual customers through sales in its Tootie Pie Gourmet Cafes, in-store sales, orders via telephone and internet on the Company's website. The corporate segment serves businesses that purchase pies as a way to promote their company through client and employee appreciation programs. The wholesale segment is made up of national and regional broad line grocery and foodservice distributors who purchase pies and then resell them through their respective sales distribution channels. Tootie Pie Company is a public company traded on the NASDAQ OTC market under the symbol "TOOT." For additional information or to receive correspondence from Tootie Pie Company, please visit www.tootiepieco.com.
Forward-Looking Statements
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," and "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file with the U.S. Securities and Exchange Commission (SEC).
SOURCE: Tootie Pie Company, Inc.
Tootie Pie Company Carla Carter, 210-237-4762 Investor Relations Carla.Carter@tootiepieco.com
Source: Accesswire (September 30, 2010 - 7:42 PM EDT)
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Spring Creek Capital Corp. Announces Name Change to "Spring Creek Healthcare Systems, Inc."
New Name and Branding More Aptly Reflect Company's Focus on Cutting
Edge Solutions in the Healthcare Industry
Sep. 30, 2010 (Business Wire) -- Spring Creek Capital Corporation (OTCBB:SCRK), a healthcare solutions company whose business plan is distributing cutting edge solutions for the medical, pharmaceutical and healthcare markets, today announces that the Company has changed its name to “Spring Creek Healthcare Systems, Inc.” effective September 30, 2010.
The name change to Spring Creek Healthcare Systems, Inc. will be reflected in SEC filings and all future corporate communications with the investor community. The name change will have no effect on voting and other rights accompanying the Company’s common stock, and the Company will retain its current ticker symbol.
“In order to more accurately reflect our main business operations in the healthcare industry, we have adopted a corporate name change to Spring Creek Healthcare Systems,” said Kelly T. Hickel, Chairman and CEO. “As demonstrated by our assortment of emerging health-related technologies, we are committed to becoming a leading distributor of cutting edge solutions for the medical, pharmaceutical and healthcare markets. We look forward to keeping our loyal shareholders and prospective investors apprised of our new developments over coming weeks and months.”
Spring Creek’s corporate initiatives have evolved around the concept of selecting young companies with innovative concepts and launching these products and services utilizing its expertise.
About Spring Creek Healthcare Systems, Inc.
Spring Creek Healthcare Systems, Inc. (formerly Spring Creek Capital Corp.) is a healthcare solutions company whose business plan is to distribute cutting edge solutions for the medical, pharmaceutical and healthcare markets to resellers and consumers worldwide. Spring Creek actively pursues emerging opportunities in the healthcare industry by selecting young start-up and micro-cap companies with innovative concepts and launching these products and services utilizing the marketing distribution network of Spring Creek’s principal subsidiary, Stratis Healthcare Inc. Through Stratis, Spring Creek will distribute the products of its portfolio companies either directly to consumers, through distributors or through multi-channel resources.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that these forward-looking statements involve uncertainties and risks that could cause actual performance and results of operations to differ materially from those anticipated. These risks and uncertainties include issues related to the ability to: obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new ventures, as well as other factors set forth in Spring Creek's most recently filed Form 10-K and Form 10-Q reports. The forward-looking statements contained herein represent the Company's judgment as of the date of this release and it cautions readers not to place undue reliance on such statements. Spring Creek assumes no obligation to update the statements contained in this release.
Company Contact:
Spring Creek Healthcare Systems, Inc.
Kelly T. Hickel, Chairman and CEO
646-896-3050
or
Financial Communications Contact:
Trilogy Capital Partners
Darren Minton, President
Toll-free: 800-592-6067
info@trilogy-capital.com
Source: Business Wire (September 30, 2010 - 6:41 PM EDT)
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United EcoEnergy Corp. Announces Name Change to "United Health Products, Inc."
New Name and Branding More Aptly Reflect Company's Focus on Leading
Healthcare Product Solutions in the Wound-Care Industry
Sep. 30, 2010 (Business Wire) -- United EcoEnergy Corp. (OTCBB: UEEC), a healthcare solutions and product development company focusing on the expanding wound-care industry, announces that the Company has changed its name to “United Health Products, Inc.” effective September 30, 2010.
The name change to United Health Products, Inc. will be reflected in SEC filings and all future corporate communications with the investor community. The name change will have no effect on voting and other rights accompanying the Company’s common stock, and the Company will retain its current ticker symbol.
“In order to more accurately reflect our main business operations in the healthcare industry, we have adopted a corporate name change to United Health Products,” said Kelly T. Hickel, Chairman and CEO. “We have focused a significant amount of resources on our proprietary hemostatic gauze, and we are committed to serving the expanding wound-care industry in both the United States and internationally. We look forward to keeping our loyal shareholders and prospective investors apprised of our new developments over coming weeks and months.”
United and its wholly-owned subsidiary, Epic Wound Care Inc., are penetrating the growing wound-care market by manufacturing an innovative gauze that changes the way medical professionals treat their patients. Upon contact with blood, the gauze forms a gel-like substance, which acts as a hemostatic agent that expands slightly to cause direct pressure on blood vessels and control bleeding. The unique formulation contains no chemical additives and is hypoallergenic.
About United Health Products, Inc.
United Health Products, Inc. (formerly United EcoEnergy Corp.) is a healthcare solutions company that has developed an innovative hemostatic gauze product that stops bleeding by forming into a gel-like substance upon contact with blood. The gauze was initially developed as a tool to provide medical professionals the ability to stop bleeding in the most efficient manner possible. Through the acquisition of intellectual property rights in 2009, United and its wholly owned subsidiary, Epic Wound Care, have the potential to transform segments of the market such as ambulatory emergencies, surgery, dental, home care and athletic injuries. United and Epic have been able to penetrate the growing wound-care market by introducing this innovative gauze product and changing the way medical professionals treat their patients.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that these forward-looking statements involve uncertainties and risks that could cause actual performance and results of operations to differ materially from those anticipated. These risks and uncertainties include issues related to the ability to: obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new ventures, as well as other factors set forth in United's most recently filed Form 10-K and Form 10-Q reports. The forward-looking statements contained herein represent the Company's judgment as of the date of this release and it cautions readers not to place undue reliance on such statements. United assumes no obligation to update the statements contained in this release.
Company Contact:
United Health Products, Inc.
Kelly T. Hickel, Chairman and CEO
646-896-3050
or
Financial Communications Contact:
Trilogy Capital Partners
Darren Minton, Executive Vice President
Toll-free: 800-592-6067
info@trilogy-capital.com
Source: Business Wire (September 30, 2010 - 6:41 PM EDT)
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Cimetrix to Present at the Houlihan Lokey Technology, Media & Telecom Conference
Sep. 30, 2010 (Business Wire) -- Cimetrix Incorporated (OTCBB: CMXX) (www.cimetrix.com), a leading provider of factory automation and equipment control software solutions for the global semiconductor, photovoltaic and electronics industries, announced today that management will present at Houlihan Lokey’s 2010 Technology, Media & Telecom Conference at the Grand Hyatt Hotel in New York, N.Y. Bob Reback, president and chief executive officer, is scheduled to present at 11:55 a.m. Eastern Time on Thursday, October 14, 2010. The recorded webcast will be available on the Cimetrix web site on the following day, October 15, 2010, at http://www.cimetrix.com.
About Cimetrix Incorporated
Cimetrix designs, develops, markets, and supports factory automation and equipment control software for the global semiconductor, photovoltaic, and electronics industries. A leading participant in SEMI standards development, Cimetrix’s connectivity software allows for quick implementation of the SECS/GEM, PV2, GEM300, and EDA standards.
The Company’s products can be found on virtually every tool type in nearly every semiconductor 300mm factory worldwide. The added-value of Cimetrix’s passionate support and professional services creates the industry’s only complete software solution. Key products include:
CIMControlFramework™
CIMConnect™
CIM300™
CIMPortal™
Cimetrix is an active member of Semiconductor Equipment and Materials International (SEMI), including the SEMI PV Group, and participates in various International SEMATECH Manufacturing Initiative (ISMI) programs.
For more information, please visit www.cimetrix.com.
Cimetrix, Incorporated
Rob Schreck, 801-256-6500
Fax: 801-256-6510
rob.schreck@cimetrix.com
Source: Business Wire (September 30, 2010 - 6:25 PM EDT)
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Bohai Pharmaceuticals Announces Availability of SmallcapInsights.com Article
Industry Veteran Dr. John Faessel Discusses Bohai's Developments in
the Traditional Chinese Medicine Industry and Its Recently Reported
Record FY 2010 Numbers
Sep. 30, 2010 (Business Wire) -- Bohai Pharmaceuticals Group, Inc. (OTCBB/OTCQB: BOPH), a China-based pharmaceutical company engaged in the production, manufacturing and distribution of Traditional Chinese Medicine (TCM) in China, today announces the release of a SmallcapInsights.com article by industry veteran Dr. John Faessel.
Entitled “A Best China Mini-Cap Idea for 2011”, Dr. Faessel discusses Bohai’s participation in the Traditional Chinese Medicine industry in China, including recent developments such as Bohai’s 5 new product introductions in 2010, its recent research coverage by Murphy Analytics, and its just released financial numbers for the fiscal year ended June 30, 2010, which were record results.
In addition, the article provides an overview of Bohai’s business model, and its growth potential going forward.
From the article, Dr. Faessel states, “The [Chinese] government wants to have more than 90% of its population covered by some sort of basic medical insurance by 2011. Bottom line, to the Chinese consumer this means that 80 to 90% of the cost of medicines and pharmaceuticals will now be paid by the government in reimbursements. Obviously this has huge implications for BOPH.”
The article details the significant growth projected in China’s pharmaceutical market, which benefits from a growing elderly population, a PRC government that is increasing government healthcare spending to approximately $125 billion by 2011, and direct health care subsidies for urban and rural residents in excess of $57 billion.
The article may be viewed at www.smallcapinsights.com.
About Bohai Pharmaceuticals Group, Inc.
Based in the city of Yantai, Shandong Province, China, Bohai Pharmaceuticals Group, Inc. (OTCBB/OTCQB: BOPH) is engaged in the production, manufacturing and distribution of herbal pharmaceuticals based on Traditional Chinese Medicine in China. Bohai’s medicines address common health problems such as rheumatoid arthritis, viral infections, gynecological diseases, cardio vascular issues and respiratory diseases. Bohai’s products are sold either by prescription through hospitals or over-the-counter through local pharmacies and retail drug store chains. Bohai has approximately 600 employees, including approximately 300 sales representatives, operating from 20 offices throughout China. Bohai’s lead products, Tongbi Capsules and Tablets and Lung Nourishing Cream, are eligible for reimbursement under China’s National Medical Insurance Program.
For comprehensive investor relations material, including fact sheets, research reports, presentations and video, please follow the appropriate link: Investor Relations Portal, Investor Fact Sheet and Overview Video.
For additional information, please visit Bohai’s corporate website: www.bohaipharma.com.
Additional Information Relating to Bohai’s Trading Data
Due to certain recent disruptions in the marketplace relating to quotations on the OTC Bulletin Board operated by FINRA (OTCBB), incomplete trading data may exist for certain companies like Bohai. Real-time trading data for Bohai on the OTCQB market is available through the below link. Readers are advised that OTCQB market is operated by the owner of otcmarkets.com, and Bohai Pharmaceuticals Group, Inc. makes no representation or warranty regarding the OTCQB market.
For real-time trading data for Bohai on the OTCQB market, including Level 2 quotes, please visit: www.otcmarkets.com/stock/boph/quote.
SEC Section 17(b) Disclosure
SmallcapInsights.com is a wholly owned subsidiary of Trilogy Capital Partners, Inc. (“Trilogy”). Trilogy has been engaged by Bohai Pharmaceuticals Group, Inc. ("BOPH") to provide investor relations services for compensation of a monthly retainer in the amount of $12,500. Trilogy Capital Partners owns 31,250 shares of the Common Stock of BOPH. In addition, Alfonso J. Cervantes, the principal of Trilogy, beneficially owns 90,000 shares of the Common stock of BOPH through La Mancha Capital Group, LLC, a limited liability company and is a non-managing member of Regeneration Capital Group, LLC, which owns 541,875 shares of the Common Stock of BOPH.
Although the article described herein was commissioned and paid for by Bohai Pharmaceuticals Group, Inc., the company notes that the article was generated independently by the author, and statements by the author are his own and not attributable to Bohai Pharmaceuticals Group, Inc. Readers are advised to review the article in its entirety, including the disclosures and disclaimers noted therein.
Cautionary Note Regarding Forward Looking Statements
This press release, the article referred to herein and the statements of representatives of Bohai Pharmaceuticals Group, Inc. (the “Company”) related thereto contain, or may contain, among other things, “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are “forward-looking statements,” including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as “guidance,” “projects,” “may,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “ultimately” or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with the Securities and Exchange Commission (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.
Company Contact:
Bohai Pharmaceuticals Group, Inc.
Gene Hsiao, Chief Financial Officer
212-521-4470
or
Financial Communications Contact:
Trilogy Capital Partners - Asia
Darren Minton, President
Toll-free: 800-592-6067
info@trilogy-capital.com
Source: Business Wire (September 30, 2010 - 6:25 PM EDT)
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Franklin Credit Holding Corporation Eliminates Pledge of Stock in Servicing Subsidiary as Collateral for Legacy Indebtedness
FRANKLIN CREDIT MANAGEMENT CORPORATION WELL POSITIONED TO EXPAND ITS LOAN SERVICING BUSINESS
Sep. 30, 2010 (PR Newswire) --
NEW YORK, Sept. 30 /PRNewswire/ -- Franklin Credit Holding Corporation ("FCHC") (OTC Bulletin Board: FCMC) and its mortgage servicing subsidiary, Franklin Credit Management Corporation ("FCMC"), a specialty consumer finance company primarily engaged in the servicing and resolution of performing, reperforming and nonperforming residential mortgage loans (including specialized loan recovery servicing) and in providing due diligence and other specialized residential mortgage services for third parties, entered into a series of transactions (collectively, the "Transaction") with The Huntington National Bank (the "Bank") and other parties on September 22, 2010. The Transaction will enable FCMC to operate its business free of pledges of its stock and significant restrictive covenants under the syndicated legacy credit agreement with the Bank (the "Legacy Credit Agreement"), which governs the substantial debt owed to the Bank by subsidiaries of its parent, FCHC.
As previously reported in a Form 8-K filed with the SEC on September 23, 2010, FCHC, FCMC, the Bank and certain third parties entered into the Transaction, which resulted in a release of the pledge of FCMC stock, a significant revision to the Legacy Credit Agreement and, subject to the final approval of the Bank, the consent to proceed with a restructuring or spin-off of the ownership of FCMC. Under the terms of the Transaction, the Bank sold all of the subordinate lien consumer loans (the "Loans") owned by a trust of the Bank (Franklin Mortgage Asset Trust 2009-A, the "Trust") to Bosco Credit II, LLC ("Bosco II"), an entity formed and owned solely by Thomas J. Axon ("TJA"), Chairman and President of FCHC and FCMC.
"This represents a very significant step towards a complete transformation of FCMC into a separate and independent entity by eliminating the pledge of our FCMC stock and contingent obligations to the Bank under the Legacy Credit Agreement," stated Mr. Axon. "Most importantly, the Transaction enhances the ability of FCMC to develop new business with other institutions. Our hard work and continued focus on being the best collector of distressed loans for the Bank now has positioned us to grow FCMC's recovery business with additional new customers."
Under the terms and conditions of the Transaction:
The Bank agreed to release collateral under the Legacy Credit Agreement relating to FCMC, other than a second priority lien on cash collateral securing the credit facility of FCMC and FCHC with the Bank (the "Licensing Credit Agreement");
Specifically, FCHC's pledge of 70% of the outstanding shares of FCMC as security for the Legacy Credit Agreement was released by the Bank, in consideration of $4 million paid by FCMC to the Bank, and the Bank agreed to release its liens on an office condominium unit and a residential cooperative apartment unit owned by FCMC that were previously pledged to the Bank, in exchange for a $1 million note (guaranteed by TJA) from FCMC payable on or before November 22, 2010.
The limited recourse guarantee of FCMC under the Legacy Credit Agreement was released, cancelled and discharged by the Bank;
The Bank eliminated all cross-default provisions to the Licensing Credit Agreement and servicing agreement of FCMC with the Trust (for the remaining loans that continue to be held by the Trust) that could trigger a default resulting from a default under the Legacy Credit Agreement;
The Bank extended the $6.5 million letter of credit facility and $1.0 million revolving credit facility available under the Licensing Credit Agreement, which is collateralized by $7.5 million in cash held by FCMC, to September 30, 2011;
The Bank consented to the future transfer, sale, restructuring or spin-off of the ownership of FCMC, subject to a review and final approval of the Bank;
FCMC entered into a Deferred Payment Agreement (guaranteed and collateralized by TJA) to pay the Bank 10% of the cumulative proceeds, minus $4 million, from any transactions (including dividends or distributions) that monetize FCMC's value or significant assets prior to March 20, 2019; and,
The Bank cancelled and terminated the obligation of FCMC to make payments aggregating $3 million to the Bank based upon FCMC's earnings (before interest, taxes, depreciation and amortization) over a three-year period.
"We can now move forward with FCMC as a specialty servicer of distressed residential mortgage loans, with separately audited financial statements and free of the legacy portfolios of troubled loans and related debt to the Bank," commented Paul Colasono, Chief Financial Officer of FCHC and FCMC. "This Transaction with the Bank, in combination with the steps we have previously taken to reorganize and restructure the Franklin companies, now positions FCMC to compete effectively for new servicing and recovery collections business opportunities."
In consideration for TJA's undertaking the obligations required of him under the Transaction agreements, and various guarantees and concessions previously provided by TJA for FCMC's and FCHC's benefit, FCHC transferred to TJA 10% of FCMC's outstanding shares. When combined with FCMC shares already directly owned by TJA, the President and Chairman of FCHC and FCMC now directly owns 20% of FCMC, while the remaining 80% of FCMC is owned by FCHC and its public shareholders (including TJA as a principal shareholder of FCHC's publicly owned shares).
On September 22, 2010, FCMC also entered into a servicing agreement with Bosco II for the servicing and collection of the loans purchased by Bosco II from the Trust. Under the terms of the servicing agreement with Bosco II, FCMC is entitled to per unit monthly service fees for loans less than 30 days delinquent, contingency fees for loans 30 or more days delinquent equal to a percentage of net amounts collected, and the reimbursement of certain third-party fees and expenses incurred by FCMC.
About Franklin Credit Holding Corporation
Franklin Credit Holding Corporation (together with its subsidiaries, the "Company") is a specialty consumer finance company primarily engaged in the servicing and resolution of performing, reperforming and nonperforming residential mortgage loans, including specialized loan recovery servicing, and in the analysis, pricing, due diligence and acquisition of residential mortgage portfolios for third parties. The portfolios serviced for other entities consist of both first- and second-lien loans secured by 1-4 family residential real estate that generally fall outside the underwriting standards of Fannie Mae and Freddie Mac and involve elevated credit risks as a result of the nature or absence of income documentation, limited credit histories, higher levels of consumer debt or past credit difficulties. The Company's executive, administrative and operations offices are located in Jersey City, New Jersey. Additional information on the Company is available on the Internet at www.franklincredit.com.
Statements contained herein that are not historical fact may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are subject to a variety of risks and uncertainties. There are a number of important factors that could cause actual results to differ materially from those projected or suggested in forward-looking statements made by the Company. These factors include, but are not limited to: (i) unanticipated changes in the U.S. economy, including changes in business conditions such as interest rates, changes in the level of growth in the finance and housing markets, such as slower or negative home price appreciation and economic downturns or other adverse events in certain states; (ii) the Company's ability to continue as a going concern; (iii) the Company's relations with the Company's lenders and such lenders' willingness to waive any defaults under the Company's agreements with such lenders; (iv) the Company's ability to obtain renewals of its loans or alternative refinancing opportunities; (v) increases in the delinquency rates of the Company's borrowers, (vi) the availability of or ability to retain as clients third parties holding distressed mortgage debt for servicing by the Company on a fee-paying basis; (vii) changes in the statutes or regulations applicable to the Company's business or in the interpretation and enforcement thereof by the relevant authorities; (viii) the status of the Company's regulatory compliance; (ix) the risk that legal proceedings could be brought against the Company which could adversely affect its financial results; (x) the Company's ability to adapt to and implement technological change; (xi) the Company's ability to attract and retain qualified employees; and (xii) other risks detailed from time to time in the Company's Securities and Exchange Commission ("SEC") reports and filings. Additional factors that would cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in the Company's filings with the Securities and Exchange Commission, including, but not limited to, those factors discussed under the captions "Risk Factors", "Interest Rate Risk" and "Real Estate Risk" in the Company's Annual Report on Form 10-K for the year ended December 31, 2009 and Quarterly Reports on Form 10-Q, which the Company urges investors to consider. The Company undertakes no obligation to publicly release any revisions to such forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrences of unanticipated events, except as otherwise required by securities, and other applicable laws. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to release publicly the results on any events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contact: Paul Colasono, CFO
(201) 604-4402
pcolasono@franklincredit.com
SOURCE Franklin Credit Holding Corporation
Paul Colasono, CFO of Franklin Credit Holding Corporation, +1-201-604-4402, pcolasono@franklincredit.com
Source: PR Newswire (September 30, 2010 - 6:14 PM EDT)
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Global Telecom and Technology Successfully Completes $15 Million Credit Facility with Silicon Valley Bank
Sep. 30, 2010 (Business Wire) -- Global Telecom & Technology, Inc. (“GTT”), (OTCBB:GTLT), a leading global network integrator that provides its clients with a broad portfolio of wide-area network, dedicated internet access, and managed data services, has successfully completed a new $15.0 million credit facility with Silicon Valley Bank (SVB), the primary subsidiary of SVB Financial Group (NASDAQ:SIVB). The facility consists of a $10.0 million five-year term loan and a two-year $5.0 million revolving line of credit. The term loan will be used to refinance GTT’s $4.0 million seller notes and to repay its $4.8 million in convertible notes, both due December 31, 2010.
“Silicon Valley Bank continues to be a key strategic partner for GTT,” said Richard D. Calder, Jr., President and Chief Executive Officer. “This credit facility reinforces SVB’s confidence in the cash-flow generating nature of our business. With this refinancing in place, we will continue to drive our growth strategy both organically and through strategic acquisitions.”
The combined facility is secured by substantially all of GTT’s assets and the revolving credit line is based on eligible accounts receivable, including certain foreign receivables. The terms of the loans include typical financial covenants as well as provisions allowing additional leverage and incentives to reduce borrowing costs if the company maintains certain financial ratios.
Eric Swank, Chief Financial Officer said, “With this new facility, we strengthened our balance sheet by removing the bulk of our short-term debt, secured significant capital at a very attractive cost and maintained flexibility in our capital structure. As we continue to grow cash flow, this facility enables us to employ a balanced approach to funding our growth plans.”
“We have been pleased to partner with the GTT team for several years,” said Megan Scheffel, senior relationship manager, Silicon Valley Bank. “As the company has grown and expanded both in the U.S. and overseas, we have worked with them to provide the right financing and cash management services they required. SVB is committed to helping technology companies of all sizes grow and take their businesses to the next level and we look forward to continuing our longstanding relationship with GTT.”
About GTT
GTT is a global network integrator providing a broad portfolio of wide-area network services, dedicated internet access, and managed data services. With over 800 supplier relationships worldwide, GTT combines multiple networks and technologies such as private line, Ethernet, and MPLS to deliver cost-effective solutions specifically designed for each client’s unique requirements. GTT enhances customer performance through its proprietary Client Management Database (CMD), which provides a comprehensive client support system for service design and quotation, rapid service implementation, and 24x7 global operations support. Headquartered in McLean, Virginia, GTT has offices in London, Dusseldorf, and Denver and provides services to more than 700 enterprise, government, and carrier clients in over 80 countries worldwide. For more information, visit the GTT website at www.gt-t.net.
About Silicon Valley Bank
Silicon Valley Bank is the premier commercial bank for companies in the technology, life science, venture capital, private equity and premium wine industries. SVB provides a comprehensive suite of financing solutions, treasury management, corporate investment and international banking services to its clients worldwide. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients’ success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through 26 U.S. offices and international operations in China, India, Israel and the United Kingdom. Silicon Valley Bank is a member of global financial services firm SVB Financial Group (NASDAQ:SIVB), with SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services. More information on the company can be found at www.svb.com.
Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Private Client Services is a division of Silicon Valley Bank. SVB Financial Group is also a member of the Federal Reserve System.
Forward-Looking Statements
This release includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which reflect the current views of Global Telecom & Technology, Inc., with respect to current events and financial performance. You can identify these statements by forward-looking words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate,” “plan,” “could,” “should,” and “continue” or similar words. These forward-looking statements may also use different phrases. From time to time, Global Telecom & Technology, Inc., which we refer to as “we”, “us” or “our” and in some cases, “GTT” or the “Company”, also provides forward-looking statements in other materials GTT releases to the public or files with the United States Securities & Exchange Commission (“SEC”), as well as oral forward-looking statements. You should consult any further disclosures on related subjects in our quarterly reports on Form 10-Q and current reports on Form 8-K filed with the SEC. Such forward-looking statements are and will be subject to many risks, uncertainties and factors relating to our operations and the business environment that may cause our actual results to be materially different from any future results, express or implied, by such forward-looking statements. Factors that could cause GTT’s actual results to differ materially from these forward-looking statements include, but are not limited to, the following: our ability to obtain capital; our ability to develop and market new products and services that meet customer demands and generate acceptable margins; our reliance on several large customers; our ability to negotiate and enter into acceptable contract terms with our suppliers; our ability to attract and retain qualified management and other personnel; competition in the industry in which we do business; failure of the third-party communications networks on which we depend; legislation or regulatory environments, requirements or changes adversely affecting the businesses in which we are engaged; our ability to maintain our databases, management systems and other intellectual property; our ability to maintain adequate liquidity and produce sufficient cash flow to fund our capital expenditures and debt service; technological developments and changes in the industry; our ability to complete acquisitions or divestures and to integrate any business or operation acquired; our ability to overcome significant operating losses; and general economic conditions. Additional information concerning these and other important factors can be found under the heading "Risk Factors" in GTT's annual and quarterly reports filed with the Securities and Exchange Commission including, but not limited to, its Annual Report on Form 10-K. Statements in this release should be evaluated in light of these important factors.
GTT Investor Contacts:
Eric Swank, +1 703-442-5529
eric.swank@gt-t.net
or
Lippert/Heilshorn & Associates
Kim Sutton Golodetz, +1 212-838-3777
kgolodetz@lhai.com
or
GTT Media Inquiries:
JD Darby, +1 703-442-5530
jd.darby@gt-t.net
Source: Business Wire (September 30, 2010 - 4:37 PM EDT)
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netTALK Donates Big to the Big Ten Networks
netTALK.COM, INC. Donated VOIP Adapters to the Big Ten
Networks, Improving Mobile Communication Nationally
Sep. 30, 2010 (Business Wire) -- netTALK.COM, INC. (OTCBB: NTLK), a publicly traded Competitive Local Exchange Carrier (CLEC) recently provided their netTALK Voice over Internet Protocol (VoIP) devices to the Big Ten Network, the first internationally distributed network dedicated to covering one of the premier collegiate conferences in the country.
In an effort to support the Big Ten Network and to assist in improving communication, netTALK.COM, INC. provided 16 of their VoIP devices, which were deployed to the network’s mobile television production trucks for live game productions. Because the trucks are equipped with reliable internet connection, but rarely an affordable telephone line, the units provided the company with dependable mobile phone service around the country.
"The Big Ten Network has chosen netTALK.COM, Inc. and their VOIP Adapters to provide high quality, mobile telephone lines for live production communications. The units are compact, robust, and maintenance-free while still providing our production crews with vital, IP-based communication lines back to our headquarters in Chicago and our network management center in Houston,” said Scott Adametz, Systems Engineer for the Big Ten Networks. “netTALK’s service has been superb and we look forward to deploying more units as our live event coverage expands."
netTALK.COM, INC. offers affordable phone service through its flagship product, the netTALK DUO. The palm-sized device allows customers to make free calls to the U.S. and Canada from anywhere in the world, with no contracts, no monthly bills, and no computer required. The product retails for $69.95 and includes the first year of calling service; subsequent service is $29.95 per year.
“We were delighted to be approached by such a world class television network and happy we can provide our service to the sports community just in time for football season,” said Anastasios “Takis” Kyriakides, Chairman and CEO of netTALK, INC. “We will continue to support the Big Ten Network with any additional communication needs as they arise.”
The Big Ten Network televises more than 350 live events every year, the vast majority in high definition, as well as studio shows, original programming, and classic games, and is available to more than 75 million homes in the U.S. and Canada.
For more information on netTALK.COM, INC., contact Marketing Manager Melanie De Vito at (305) 621-1200, x125 or at melanie@nettalk.com. Visit www.netTALK.com.
netTALK.COM, INC.
Melanie De Vito, Marketing Manager, 305-621-1200 x125
melanie@nettalk.com
www.netTALK.com
Source: Business Wire (September 30, 2010 - 4:19 PM EDT)
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Diversinet to Execute Shares for Debt Transaction
Sep. 30, 2010 (Canada NewsWire Group) --
TORONTO, Sept. 30 /CNW/ - Diversinet Corp. (TSX Venture: DIV, OTCBB: DVNTF), a leading innovator of secure mobile healthcare applications, announced it intends to satisfy certain CEO and Board of Directors compensation through the issuance of common shares ("Common Shares") of Diversinet (the "Shares for Debt Transaction").
In April 2008, Diversinet's CEO, Mr. Wahbe entered into a three year employment agreement. Mr. Wahbe's salary is payable through the issuance of Diversinet common shares. Shareholders without a direct interest in the transaction approved the issuance at the June 24, 2010 annual general meeting (AGM). The Compensation Committee of the Board of Directors of Diversinet has resolved to satisfy the amounts owing to Mr. Wahbe for Q3 2010, being $26,156.25 through the issuance of 75,000 Common Shares at a deemed price of $0.34875 per share. After the issuance, Albert Wahbe will hold 8,700,000 common shares representing 20.7% whereby he will become a new control person under TSXV policies. As such, disinterested shareholders representing greater than 51% of the outstanding shares will be asked to approve the creation of a new control person through a written resolution.
Each non-management Director is entitled to receive annual compensation of up to $50,000 payable by issuance of up to 75,000 common shares (for the period of June 25, 2010 to June 24, 2011), with up to $12,500 payable quarterly in arrears through the issuance of up to 18,750 shares. Shareholders without a direct interest in the transaction approved the issuance at the June 24, 2010 AGM. Diversinet has resolved to satisfy the amounts owing to Directors for Q3 2010, being $26,156.25, through the issuance of 75,000 Common Shares at a deemed price of $0.34875 per share.
On September 1, 2010 Dr. Richard Eidinger joined the Diversinet Board. Diversinet will be compensating Dr. Eidinger consistent with other non-management Directors. Disinterested shareholders representing greater than 51% of the outstanding shares will be asked to approve the issuance of shares through a written resolution.
The Shares for Debt Transaction is subject to approval by the TSX Venture Exchange and compliance with applicable securities laws.
About Diversinet
Diversinet Corp. (TSX Venture: DIV, OTCBB: DVNTF) provides the healthcare industry with proven, reliable technology for mobile applications that securely connect people with their healthcare information, payers and providers - anyway, anytime and anywhere. Diversinet's MobiSecure® platform helps payers and providers meet rapidly growing needs for safe, convenient, on-the-go storage and sharing of personal health data. Connect with Diversinet Corp. at www.diversinet.com. Healthcare. Connected and Protected.
The Private Securities Litigation Reform Act of 1995 and Canadian securities laws provide a "safe harbour" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by the company) contains statements that are forward-looking, such as statements relating to anticipated future revenues of the company and success of current product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of the company. For a description of additional risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission available at www.sec.gov and Canadian securities regulatory authorities available at www.sedar.com.
David Hackett
Chief Financial Officer
416-756-2324 ext. 275
Source: Canada Newswire (September 30, 2010 - 4:15 PM EDT)
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GHN Agrispan Executes Milestone Agreement for Construction of Advanced Agricultural Production Base
Land Acquisition Will Increase Company's Capacity in Excess of 45%,
Which Management Believes Will Lead to Greater Revenues and Earnings
Sep. 30, 2010 (Business Wire) -- GHN Agrispan Holding Company (OTCBB: GHNA), an emerging company engaged in China’s high-growth prepared foods industry, today announced that it has signed a strategic agreement for construction of an advanced agricultural production base in Liancheng County, China.
The agreement between the Liancheng County government and GHN Agrispan’s wholly owned subsidiary provides GHN Agrispan with the ability to utilize land in the Modern Agricultural Demonstration Garden located in the Linfang Township of Liancheng County for a period of 18 years. GHN Agrispan will make an investment to build an approximate 165 acre agricultural planting base in this area of the Fujian Province with nearly all of the land to be equipped with modern irrigation facilities.
“We are excited to announce this sizable project which represents a material event in our development and a significant increase in our existing agricultural base of over 45%. We believe that this expansion will position us to generate higher revenues and earnings going forward,” said Ms. Xu Yizhen, CEO of GHN Agrispan.
All agricultural products grown at the site will be pollution-free, green or organic. The scope of the plantation is expected to include seasonal vegetables such as bulb-lettuce and tomatoes. In addition, the resulting produce will be sold by GHN Agrispan directly to large multinational and Fortune 500 retailers throughout mainland China.
“As we embark on this new agricultural project, we look forward to working closely with the local government and rural farmers to plant products that are highest in demand,” added Ms. Xu. “Through all of our corporate projects, we have been highly praised by the local community and have enjoyed the support of local governments and various PRC policies aimed at increasing domestic agricultural production in rural areas.”
As part of the investment agreement, GHN Agrispan is entitled to plant on approximately 5 acres of farmland immediately and will obtain the right to plant on the remaining 160 acres of land on or prior to December 30, 2010. GHN Agrispan currently has approximately 350 acres of agricultural farmland that it leases in China. In addition to the land use rights, GHN Agrispan’s subsidiary will be eligible for preferential policies aimed at agricultural operations from various levels of the PRC government including the state, Fujian Province, Longyan City and Liancheng County.
About GHN Agrispan Holding Company
Based in Xiamen City, China, GHN Agrispan Holding Company (OTCBB: GHNA) is an emerging Chinese operating company engaged in the high-growth prepared foods industry in China. GHN Agrispan has positioned itself to capitalize on the demands of China’s burgeoning middle class for healthy food products that are free of toxins and pollutants, as well as the China’s booming catering industry which is currently experiencing growth in the double digits. GHN Agrispan’s catering group is recognized as one of the most reputable catering services in Xiamen. The company places a strong emphasis on food safety, selling its premium products and services to target clients including US Fortune 500 companies, European multi-national firms, as well as established Chinese private enterprises and government institutions such as banks and schools. In addition, the output from the GHN Agrispan’s fresh fruit, vegetables and other planting bases is purchased by major national supermarkets and first-tier wholesalers in developed cities throughout China.
For more information please visit the website for GHN Agrispan’s wholly-owned subsidiary, Yidong Group: www.ghnagrispan.com/en
Forward-Looking Statements
This release contains "forward-looking statements" for purposes of the Securities and Exchange Commission's "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 and Rule 3b-6 under the Securities Exchange Act of 1934. These forward-looking statements are subject to various risks and uncertainties that can affect GHN Agrispan’s operating results, liquidity and financial condition or otherwise cause GHN Agrispan’s actual results to differ materially from those forecasted. Such factors include risks associated with economic, weather, public health and other factors affecting consumer spending, including negative changes to consumer confidence and other recessionary pressures, higher energy and labor costs, the successful implementation of GHN Agrispan’s growth strategy, including the ability of GHN Agrispan to finance its expansion plans and the mix and pricing of goods sold. The identified risk factors and other factors and risks that may affect GHN Agrispan’s business or future financial results are detailed in its filings with the Securities and Exchange Commission. These cautionary statements qualify all of the forward-looking statements GHN Agrispan makes herein. GHN Agrispan cannot assure you that the results or developments anticipated by it will be realized or, even if substantially realized, that those results or developments will result in the expected consequences for it or affect it, its business or its operations in the way it expects. GHN Agrispan cautions you not to place undue reliance on these forward-looking statements, which speak only as of their respective dates. GHN Agrispan does not undertake an obligation to update or revise any forward-looking statements to reflect actual results or changes in the GHN Agrispan’s assumptions, estimates or projections.
Company Contact:
GHN Agrispan Holding Company
Kenneth Ma, Executive Director
+86-136-660-1113
or
Financial Communications Contact:
Trilogy Capital Partners
Darren Minton, President
Toll-free: 800-592-6067
info@trilogy-capital.com
Source: Business Wire (September 30, 2010 - 4:01 PM EDT)
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Brazil Gold Rescinds ACP Acquisition
Sep. 30, 2010 (Marketwire) --
BELLEVUE, WA -- (Marketwire) -- 09/30/10 -- Brazil Gold Corp ("Brazil Gold" or the "Company") (OTCBB: BRZG) announced today that it has entered into a Mutual Rescission Agreement and General Release rescinding its June 1, 2010 acquisition of Amazonia Capital E Participacoes Ltda, a Brazilian corporation ("ACP"). Under the terms of the Acquisition Agreement dated May 19, 2010 (the "Acquisition Agreement"), with Rusheen Handels, AG, a Swiss corporation ("Rusheen"), Brazil Gold acquired all of Rusheen's ownership units in ACP, which represented 99% of all the issued and outstanding share capital of ACP. In consideration for the units of ACP, Brazil Gold issued 44 million shares of its restricted common stock to Rusheen and its assigns. ACP is the registered owner of 102 mineral exploration claims covering approximately 824,411 hectares (2,037,119 acres) in three states in the Tapajos Greenstone Belt in the Amazon Basin of Brazil.
Pursuant to the Mutual Rescission Agreement and General Release executed by Brazil Gold and Rusheen, the parties agreed that all agreements constituting and comprising the acquisition of ACP entered into on May 19, 2010, as amended and consummated on June 1, 2010, were rescinded. The effective date of the rescission is June 1, 2010. As a result of such rescission, all of the 99% interest in the issued and outstanding share capital of ACP held by Brazil Gold was transferred back to Rusheen, and Rusheen now owns 99% of the issued and outstanding ownership units of ACP. Furthermore, the 44,000,000 shares of the Company's common stock that were issued in connection with the Acquisition Agreement will be returned to the Company. Finally, John Young resigned as the Company's head of exploration, effective immediately.
Between January 2010 and August 2010, Brazil Gold loaned to ACP approximately US$1.6 million to maintain the mineral exploration claims. In consideration for the loans, ACP issued Brazil Gold a series of Promissory Notes, the validity of which are not affected by the Rescission Agreement.
"The decision not to proceed with the exploration program was preceded by careful consideration and study," said Dr. Thomas Sawyer, Chairman of Brazil Gold. "However, the ultimate determining factor was Brazil Gold's inability to secure sufficient financing to continue carrying the over-bearing cost of the claims and instituting a comprehensive exploration program to realize their potential."
Management of Brazil Gold is currently evaluating resource opportunities in Brazil and other South American countries, including properties and projects which are financeable and have the potential to create near-term cash flow. Phillip Jennings, President of Brazil Gold, said, "Economic stress always provides economic opportunity for companies willing to look for it, and large companies often shed opportunities which have great promise but which they cannot exploit quickly. This has always been the case in the exploration industry, and Brazil Gold is currently looking to benefit from these opportunities. The Company remains committed to creating value for its shareholders."
FORWARD-LOOKING STATEMENTS
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. The statements by our officers, and other statements regarding optimism related to the business, expanding exploration and development activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations, estimates and projections about the Company's business. Actual results could vary materially from the description contained herein due to many risk factors that affect the industry the Company operates in and other risk factors listed from time to time in the Company's Securities and Exchange Commission (SEC) filings under "risk factors" and elsewhere. The forward-looking statements contained in this press release speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
For further information please contact:
Brazil Gold Corp
Phillip E. Jennings
President
Investor Relations
425-637-3080
Email Contact
www.brazilgold.com
Source: Marketwire (September 30, 2010 - 3:51 PM EDT)
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Autodesk Certifies SofTech's ProductCenter PLM Solution for Inventor 2011
ProductCenter PLM Awarded Autodesk Inventor 2011 Highest Level of Certification
Sep. 30, 2010 (Business Wire) -- SofTech, Inc., a proven provider of product lifecycle management (PLM) solutions, announces that the latest release of ProductCenter® PLM 9 has been certified for use with Autodesk® Inventor® 2010 and 2011 mechanical design software by the Autodesk Inventor Certified Application Program. Autodesk Inventor software takes engineers beyond 3D to Digital Prototyping by enabling them to design, visualize, and simulate products before they are ever built. To obtain this certification, ProductCenter met specific criteria defined by Autodesk and demonstrated a fully integrated design environment with Autodesk Inventor.
"When managing complex CAD product information, it is essential to provide an easy-to-use, fully integrated solution such as the ProductCenter Integrators for Autodesk Inventor and AutoCAD®,” states SofTech President, Jean Croteau. “We greatly appreciate Autodesk’s efforts in establishing the Autodesk Inventor Certification Program as it clearly indicates that Autodesk understands the product requirements of their user community and is putting forth the resources to ensure that those requirements are met by Autodesk and their partners.”
SofTech has been an Autodesk partner for over 15 years providing solutions for managing product information generated through the AutoCAD Mechanical, AutoCAD Electrical, and Autodesk Inventor software applications. Also, note that SofTech will be exhibiting ProductCenter PLM with Inventor and AutoCAD at the Autodesk University 2010 User Conference and Exhibition.
For additional information on the ProductCenter PLM components including integrators for Autodesk Inventor, AutoCAD Mechanical and AutoCAD Electrical, please contact SofTech at (978) 513-2722 or visit the SofTech web site at http://www.softech.com/products/plm/components.php.
About SofTech’s ProductCenter PLM Solution
ProductCenter PLM is focused on helping companies maintain a comprehensive, fully integrated and useful “Bill of Information” that consolidates all product-related information used to define, design, manufacture, and service their products.
ProductCenter PLM accelerates products and profitability by fostering innovation, extended enterprise collaboration, product quality improvements, and compressed time-to-market cycles. SofTech excels in its sensible approach to delivering enterprise PLM solutions, with comprehensive out-of-the-box capabilities, to meet the needs of manufacturers of all sizes quickly and cost-effectively.
Headquartered in Lowell, Massachusetts, SofTech (www.softech.com) has locations and distribution partners throughout North America, Europe, and Asia.
SofTech and ProductCenter are trademarks of SofTech, Inc. Autodesk, Autodesk Inventor, Inventor, and AutoCAD are registered trademarks and the property of Autodesk.
SofTech, Inc.
Sarah Garagliano, 978-513-2712
Product Marketing
sgaragliano@softech.com
Source: Business Wire (September 30, 2010 - 3:45 PM EDT)
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Habanero Acquires 5,400 Acres Bordering Beaufield Resources Tortigny Prospect
VANCOUVER, BRITISH COLUMBIA, Oct. 1, 2010 (Marketwire) -- Habanero Resources Inc. ("Habanero") (TSX VENTURE:HAO)(PINK SHEETS:HBNRF)(FRANKFURT:HRJ) wishes to announce that it has acquired approximately 5,400 contiguous acres bordering Beaufield Resources Inc.'s ("Beaufield") Tortigny Prospect, approximately 125 kilometres northwest of Chibougamou, Quebec. Yesterday, Beaufield announced a significant discovery and according to their press release (September 30, 2010) they intersected 4.20% zinc, 2.72% copper, 0.19% lead, 500.93 g/t cobalt, 72.02 g/t silver and 0.53 g/t gold over 322.15 metres.
Jason Gigliotti, President of Habanero Resources stated, "This is a spectacular drill hole that Beaufield has just produced in a quality mining region of the world. We are pleased to have been able to secure a sizable land package contiguous to this discovery property. Not only do we have this new exciting prospect in Quebec, but we are active on our Yukon property that is in a very strategic location as well."
Habanero is a diversified junior company with the following prospects: acreage in the Alberta Oilsands; land in the Yukon, bordering Underworld; the Haldane Silver Prospect in the Yukon; a sizable land holder within the land prospective for lithium in Alberta; two prospects in the Stewart Mining Region of BC, one bordering Canasia Industries Corporation's Clone Prospect and the other in the vicinity of the discovery made by Decade Resources Ltd.; land in the Barkerville Gold Camp of BC bordering Barkerville Gold Mines Ltd., property in the Red Chris Mining Region of BC near Imperial Metals Corp and now a prospect in Quebec bordering Beaufield Resources.
If you would like to be added to Habanero's email updates list, please send an email to ir@habaneroresources.com requesting to be added.
To view maps of these projects please go to http://www.habaneroresources.com.
Habanero Resources Inc.
Jason Gigliotti, President
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Habanero Resources Inc. President 604-646-6900 www.habaneroresources.com
Source: Marketwire Canada (October 1, 2010 - 3:02 AM EDT)
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Healthzone Announces Analyst Research Report
Global Alliance Partners Initiates Coverage on 23 September 2010
Sep. 30, 2010 (Marketwire) --
SYDNEY, AUSTRALIA -- (Marketwire) -- 09/30/10 -- Healthzone Limited (OTCQX: HLTZY) (PINKSHEETS: HLTZY) (ASX: HZL) (or the "Company"), an international leader in the natural beauty and wellness sector, announced that an in depth analyst report has been published by Global Alliance Partners about the Company. The report, written by William D. Lyons, initiates coverage with a "Strong Buy."
The recommendation finds support in Healthzone's reported record revenue and earnings for FY10 and focused efforts on sustainable avenues for revenue and profit margins. The alliance with Eu Yan Sang is the cornerstone of Healthzone's expanding activities in the People's Republic of China.
The report can be accessed by going to www.globalalliancepartners.com.
About Healthzone
Healthzone Limited operates a portfolio of distribution, consumer product and retail businesses in the Wellness sector. Each business provides immediate opportunities for earnings growth through business development and integration. Further information; www.healthzone.com.au
About Global Alliance Partners
Global Alliance Partners (GAP) is an international network of like-minded financial services companies that leverage local execution and distribution capabilities to expand cross-border services in private equity, mergers and acquisitions, private placement, advisory, pre-IPO, funds management, capital raising and wealth management. GAP members are all well-established financial services firms in their respective home markets and have worked as an informal alliance for many years. There are over 1,500 investment professionals in GAP members' employ. The alliance provides the bridge between mid-sized companies and international investment banking. The fast-growing network is comprised of partner firms whose local expertise and global reach span strategic markets in Africa, Asia, Europe, the Middle East, North America, and the United Kingdom.
For more information: www.globalalliancepartners.com
CONTACT DETAILS:
Healthzone Limited
Peter Roach
Executive Chairman
Australia Tel: +61 2 9772 7100
Healthzone Limited
Michael Jenkins
Company Secretary
Australia Tel: +61 2 9772 7102
USA
Grayling USA
Investor Relations
Leslie Wolf-Creutzfeldt
US Tel: +1 646 284 9472
AUSTRALIA
FCR
Financial & Corporate Relations
Ashley Rambukwella
Australia Tel: +61 2 9235 1666
Global Alliance Partners (GAP)
William D. Lyons
Analyst
US Tel: +1 404 915 8204
Email: w.lyons@globalalliancepartners.com
John O'Shea
GAP Director
US Tel: +1 212 495 9234
Email: j.oshea@globalalliancepartners.com
Source: Marketwire (September 30, 2010 - 4:42 PM EDT)
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Goldstone Clarifies August 26, 2010 News Release
TORONTO, ONTARIO, Sep. 30, 2010 (Marketwire) -- Goldstone Resources Inc. (TSX:GRC)(PINK SHEETS:GRSZF) announced today that its Audit Committee has concluded an internal investigation into the content of the news release issued by Goldstone on August 26, 2010.
In this news release, the Company stated that it had "temporarily suspended the Key Lake exploration drilling program previously outlined in its press release dated June 22, 2010", and that "following the requisition of a shareholders' meeting by Phillip Cunningham on August 23, 2010, the Company's site geologists resigned their positions with the Company. As a result, the Company has postponed further drilling of the Key Lake property pending resolution of its corporate and staffing issues."
The Audit Committee in its report presented to the Board today concluded that the resignations of the two geologists were not caused by the requisition for a shareholders' meeting, but were motivated by the geologists' frustrations with management, namely a manager who subsequently resigned from Goldstone. Therefore, the August 26, 2010 news release should not have made reference to the requisition in the manner it did.
The Executive Committee of Goldstone believes that the recent adoption by the Company of a disclosure policy and other corporate governance rules, and the controls and procedures included therein, should assist the Company in ensuring that this incident is not repeated. The Company will continue to monitor and evaluate the effectiveness of its internal controls and procedures on an ongoing basis and is committed to taking further action and implementing additional enhancements or improvements, as necessary.
Further information is available on the Company's website at www.grcmines.com and on SEDAR under the Company's profile at www.sedar.com.
Forward-Looking Statements
This news release includes certain "forward-looking statements". Such forward-looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Goldstone Resources Inc. Chairman and Interim CEO (647) 401-8965 www.grcmines.com
Source: Marketwire Canada (September 30, 2010 - 4:30 PM EDT)
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Molycor Announces Non-Brokered Private Placement
VANCOUVER, BRITISH COLUMBIA, Sep. 30, 2010 (Marketwire) -- Molycor Gold Corp. (TSX VENTURE:MOR)(PINK SHEETS:MLYFF)(FRANKFURT:M1V) ("Molycor" or the "Company") announces the Company is raising by way of Non-Brokered Private Placement, up to $350,000 through the issuance of up to 7,000,000 units ("Units") at a price of $0.05 per Unit.
Each Unit is comprised of one common share in the capital of the Company (a "Share") plus a two year share purchase warrant (a "Warrant). Each Warrant entitles the holder to purchase one common share at a price of $0.10 for two years from the date of issue.
This Private Placement could be subject to finders' fees which will be paid in accordance with the TSX Venture Exchange policies and is subject to the approval of the regulatory authorities.
About Molycor Gold Corp:
Molycor is a diversified precious, speciality and base metal exploration and development company focusing on magnesium, molybdenum and gold exploration and development in North America.
On Behalf of Management
Larry W. Reaugh, Chief Executive Officer
For all Molycor Gold Corp. investor relations needs, investors are asked to visit the Molycor Gold Corp. website at www.molycor.com.
This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX-Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.
The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Molycor Gold Corp. Chief Executive Officer 604-531-9639 604-531-9634 (FAX) info@molycor.com www.molycor.com
Source: Marketwire Canada (September 30, 2010 - 3:45 PM EDT)
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Additional Information
Dynasty Completes Additional Shipment of Gold From Ecuador and Comments on Ecuadorian Police Protests
Sep. 30, 2010 (Marketwire) --
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/30/10 -- Dynasty Metals & Mining Inc. (TSX: DMM)(OTCQX: DMMIF) ("Dynasty" or the "Company") is pleased to announce that it has delivered its second shipment of gold dore, containing approximately 1,250 troy ounces of fine gold, with an approximate value of US$1.6 million, produced from its Zaruma Gold Project in Ecuador to a refinery in Canada. The Company continues to have a strong cash position and expects operations to be cash flow positive for the remainder of the year.
Ecuadorian Police Protests
Certain members of the Ecuadorian police are currently protesting a new law that would potentially lead to a reduction in their benefits. This has led to some road closure in the capital, Quito, as well as the closure of Quito airport. Protests have also been reported elsewhere in the Country, including Guayaquil.
These protests, have not, and are not expected to affect the Company's operations in Southern Ecuador. The Company's mining and processing operation in Zaruma continues to be operating on a shift basis twenty four hours a day.
Rob Washer, President & Chief Executive Officer
About Dynasty Metals & Mining
Dynasty Metals & Mining Inc. is a Canadian based mining company involved in the exploration and development of mineral properties in Ecuador.
The Company has the in production Zaruma Gold Project, the advanced-stage Jerusalem Project, and a highly prospective exploration project, the Dynasty Copper-Gold Belt, which includes the advanced-stage Dynasty Goldfield.
For further information please visit the Company's website at www.dynastymining.com.
This news release includes "forward-looking information", as such term is defined in applicable securities laws. Users of forward-looking information are cautioned that actual results may vary from forward-looking information contained herein. The forward-looking information includes, without limitation, the amount of money the Company anticipates that it will receive from the sale of gold delivered to the refinery; the Company's expectations as to the effect of the police protests on its operations; the Company's expectations that it will be cash flow positive; and other similar statements concerning anticipated future events, conditions or results that are not historical facts. In certain cases, forward-looking information was developed using the material factors or assumptions stated herein. Such factors and assumptions include, amongst others, the effects of general economic conditions, the price of gold, changing foreign exchange rates, the actions of police and government authorities, uncertainties associated with legal proceedings and negotiations and misjudgements in the course of preparing forward-looking information. In addition, there are also known and unknown risk factors which could cause the Company's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Known risk factors include, among others, risks and uncertainties relating to exploration and development; the ability of the Company to obtain additional financing; the Company's limited operating history; uncertain mining legislation; the need to comply with environmental and governmental regulations; political and economic instability and general civil unrest in Ecuador; potential defects in title to the Company's properties; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; and other risks and uncertainties, including those described in the Company's Annual Information Form dated March 26, 2010 filed with the Canadian Securities Administrators and available at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward looking information, will prove to be accurate. Accordingly, readers should not place undue reliance on forward-looking information. All statements are made as of the date of this news release and the Company is under no obligation to update or alter any forward-looking information except as required by law.
Contacts:
Dynasty Metals & Mining Inc.
Murray Oliver
(604) 687-0888
info@dynastymining.com
www.dynastymining.com
Brisco Capital Partners Corp.
Gordon Aldcorn
(403) 262-9888
Gordon@briscocapital.com
Source: Marketwire (September 30, 2010 - 3:02 PM EDT)
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DMRJ Extends Implant Sciences Credit Line
Fund Manager Cites New Market Penetration and Increased Order Visibility
Sep. 30, 2010 (Marketwire) --
WILMINGTON, MA -- (Marketwire) -- 09/30/10 -- Implant Sciences Corporation (OTCQB: IMSC) (PINKSHEETS: IMSC), a high technology supplier of systems and sensors for homeland security and defense markets, today announced that it has renegotiated its credit agreements with its senior secured investor, DMRJ Group LLC.
DMRJ has agreed to extend the maturity of all Implant Sciences indebtedness from September 30, 2010 to March 31, 2011.
DMRJ Managing Director, Daniel Small, commented, "We are very pleased with the progress demonstrated by Implant Sciences in the last year. The Company has increased order visibility and penetrated new markets, growing revenue opportunities substantially. Recent wins in India and China and progress in the U.S. market signifies that the Company is having success in the largest markets for explosives detection technology in the world. The impact of recent hires and a strong product development plan provide a sound foundation for the future success of the Company. We are delighted to be a part of the growth formula for Implant Sciences."
Implant Sciences CEO, Glenn Bolduc, added, "Our ability to extend our credit line is a significant vote of confidence for the work the management team has done and our plan for growing the Company. Our backlog is strong, business in our existing markets remains brisk, and we are seeing activity in a growing number of countries worldwide as a result of our recent expansion of the sales team. We believe Implant Sciences is now better positioned for success than at any time in recent history."
About Implant Sciences
Implant Sciences develops, manufactures and sells sophisticated sensors and systems for Security, Safety, and Defense (SS&D) markets. The Company has developed proprietary technologies used in its commercial explosive trace detection systems which ship to a growing number of locations domestically and internationally. Implant Sciences' QS-H100 and QS-H150 Portable Explosives Detectors have been Designated as Qualified Anti-Terrorism Technology by the U.S. Department of Homeland Security under the Support Anti-terrorism by Fostering Effective Technology Act of 2002 (the SAFETY Act). For further details on the Company and its products, please visit the Company's website at www.implantsciences.com
Safe Harbor Statement
This press release may contain certain "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to risks and uncertainties that could cause the Company's actual results to differ materially from the forward-looking statements. Such risks and uncertainties include, but are not limited to, the risks that we will be required to repay all of our indebtedness to our secured lender, DMRJ Group by March 31, 2011; if we are unable to satisfy our obligations to DMRJ and to raise additional capital to fund operations, DMRJ may seize our assets and our business may fail; we continue to incur substantial operating losses and may never be profitable; the risks that our explosives detection products and technologies (including any new products we may develop) may not be accepted by governments or by other law enforcement agencies or commercial consumers of security products; economic, political and other risks associated with international sales and operations could adversely affect our sales; our business is subject to intense competition and rapid technological change; and other risks and uncertainties described in our filings with the Securities and Exchange Commission, including its most recent Forms 10-K, 10-Q and 8-K. Such statements are based on management's current expectations and assumptions which could differ materially from the forward-looking statements.
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Contact:
Implant Sciences Corporation
Company Contact:
Glenn Bolduc
CEO
978-752-1700
Email Contact
or
Investor Contact:
Laurel Moody
646-810-0608
Email Contact
Source: Marketwire (September 30, 2010 - 2:56 PM EDT)
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Plateau Mineral Development, Inc. Details Use of Solvent Instead of Chemical-Laced Water for Fracking
Sep. 30, 2010 (GlobeNewswire) --
WINSTON-SALEM, N.C., Sept. 30, 2010 (GLOBE NEWSWIRE) -- Plateau Mineral Development, Inc. (Pink Sheets:PMDP) issued a statement yesterday regarding an article published on September 24, 2010 by Dr. Kent Moors entitled, "At Last, the EPA Weighs in on Fracking." (Source: www.oilandenergyinvestor.com) Today, Plateau would like to address the benefits of using its own Solvent as opposed to chemical-laden water for fracking.
Fracking is a process that results in the creation of fractures in rocks; the goal of which is to increase the output of a well. The most important industrial use is in stimulating oil and natural gas wells. Gas is held inside the shale, so the rock needs to be opened up before the gas can flow.
Fracking is typically done by moving millions of gallons of chemical-laced water under high pressure, which breaks, or "fractures" the rock, thereby stimulating the release of the oil or gas. Some of the chemicals used in fracking fluids are of primary concern, hence the EPA's interest in the subject. (Source: www.oilandenergyinvestor.com)
According to the industry, fracturing has been used in roughly 90 percent of wells in operation today and 60 to 80 percent of new wells will require fracturing to remain viable. The industry contends the process is safe. But hydraulic fracturing operations have been linked to environmental risks that could have significant financial implications for the companies involved and are leading to increased regulatory scrutiny. Congress has directed the EPA to study the potential impact of fracking on drinking water, human health and the environment after complaints by residents were seen on the television program, "60 Minutes." (Source: http://ipsnews.net/news.asp?idnews=52629 ) The fracturing operations involve the movement, storage, and disposal of millions of gallons of water and thousands to tens of thousands of gallons of toxic chemicals.
Then a documentary filmmaker, John Fox, took on the issue. His film, "Gasland," is now available on HBO. It chronicles the recent catastrophic BP oil spill and the environmental effects of the energy industry's efforts to extract natural resources. According to Fox, there are 450,000 of these gas wells across the country, with a proposal for 100,000 more in New York and 100,000 in Pennsylvania.
Plateau Mineral Development's Tire Converter System produces an end product called Dilution Solvent that is great for use as a fracking fluid. The benefit of using the solvent is that it can be used instead of water laced with chemicals, thereby saving the earth's water supply, and not generating polluted water. A main concern of environmentalists is the gallons upon gallons of wasted or polluted water that is used to frack. This water must later be disposed of, or filtered and cleaned up, which is an expensive and complicated undertaking. Plateau's solvent will eliminate the need for water use altogether. Upon completion of the fracking process, the fluids will flow back into the system, where the solvent is captured and stored along with the oil and can be sold at market, eliminating the need for disposal.
To learn more about Plateau Mineral Development, please visit www.plateaumineral.net.
About Plateau Mineral Development, Inc.: Plateau Mineral Development has been in existence for over five years.
Safe Harbor Statement: This information includes certain "forward-looking statements." The forward-looking statements reflect the beliefs, expectations, objectives and goals of the Company management with respect to future events and financial performance. They are based on assumptions and estimates, which are believed reasonable at the time such statements are made. However, actual results could differ materially from anticipated results. Important factors that may impact actual results include but are not limited to commodity prices, political developments, legal decisions, market and economic conditions, industry competition, the weather, changes in financial markets and changing legislation and regulations. Matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include but are not limited to risks and uncertainties associated with the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company. Forward-looking statements are intended to qualify for the safe harbor provisions of Section 21E of the Securities and Exchange Act of 1934, as amended.
CONTACT: Plateau Mineral Development
Investor Relations
410-242-0763
Source: Globe Newswire (September 30, 2010 - 2:21 PM EDT)
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Analyst Paul Cohen Initiates Healthmed Coverage
Sep. 30, 2010 (Marketwire) --
SUNNYVALE, CA -- (Marketwire) -- 09/30/10 -- Healthmed Services, Ltd. (OTCQB: HEME) (PINKSHEETS: HEME) is pleased to announce the Company has received a research report by Wall Street's #1 Independent Research firm. Coverage has been initiated on Healthmed Services, Ltd by Cohen Independent Research Group, Inc.
With a Cohen Price Target of $0.86, analysts for Cohen Independent Research Group believe Healthmed is an attractive buy, both long and short term. The research entailed comprehensive data on Healthmed's Virtual Vantage and Neuro Vantage products. The Company's remote access software and neural communicator is anticipated to change many aspects of the healthcare industry. The Company is pleased analysts see the potential value of the Company's stock.
Healthmed Chief Financial Officer, Dale Paisley commented, "The goal of the Company is to better the lives of individuals through the use of today's technology. Today's technology now includes a revolutionary neural communicator for disabled individuals and remote access software that will support healthcare professional efficiency."
Please read more about the Company and its product developments on its website: www.healthmedltd.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed with the Securities and Exchange Commission.
Contact:
C. Jones Consulting, Inc.
727-771-9500
Ezra Smith
ezra@cjonesconsulting.com
Source: Marketwire (September 30, 2010 - 1:08 PM EDT)
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