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MONTREAL -- (MARKET WIRE) -- 02/07/07 -- Alexander P. Cavasin, CEO of Alcar Chemicals Group Inc. (PINKSHEETS: ACMG), issues an update on the acquisition offer received from the SEA consortium.
"I believe the offer tabled by our future partner warrants immediate clarification of its terms and conditions," stated Dr. Cavasin. "In a nutshell, the presently proposed terms and conditions contained in the offer do represent an acquisition of controlling interests by the consortium at a valuation of US$2.05 per share," further added Dr. Cavasin.
According to the company, this partnership between the consortium and ACMG will require four 1M gal daily ethanol plants to be built and located in Thailand and Malaysia, immediately following the completion of the 1st Canadian plant and the scale up engineering, for which, under this offer, the required financing is being provided by the consortium. Although dilution will be kept at a minimum, the consortium will gain controlling interests of ACMG. In order to move the transaction forward, Dr. Cavasin has placed all of his shares into escrow pending the closing of the proposed offer.
The company states that it is now quickly moving towards completing the LOI, which is expected to be signed on February 15th, at which time all terms and conditions will be released accordingly.
About The Alcar Group
The Alcar Chemicals Group (PINKSHEETS: ACMG) represents a significant market opportunity due to a serious worldwide supply shortage of raw materials for polymers as well as an increased requirement for ethanol and biodiesel. ACMG has been concentrating on innovative methods for biomass (forestry waste, agricultural waste and non-food crop) valorization for the past decade, specifically petroleum-independent fuel and plastics resin production. Its proprietary technology represents today's most economical and advanced manufacturing process for plastic raw materials, ethanol and biodiesel, allowing production at cost savings of up to 40% when compared to current production methods.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
Investor Contact:
Steven Sung
Steven@alcarchemicalsgroup.com
News Provided by Acquire Media Corporation
news out
I think if he posted the news before the opening he would give people time to digest it and might see a more substanbtial rise in PPS
Does anyone here trade for a living?
Let's hope we can have a solid opening and then the news comes out and we start pushing .15
Good morning everyone. Anyone have any idea of the timing of the news today?
Good luck to all have a good night and maybe tomorrow will bring some good news
if i had some free cash i might try and push it to .10
we will find out in 3 minutes
Don't right your resignation letter but at least plan a nice family vacation
closing near the high always of good sign of things to come
Got through the offer Anyone know what the market is now
Yeah but if you get the pop in the stock maybe you won't need your job
Let's hope so Aliangel
Even with all the selling they can;t keep the stock down
Maybe he got more then what he had originally accepted. That's all we can hope for, but we shall see soon enough
Huge bullish symbol on the chart
Here we go. Close above .10 and tomorrow we see the real rally
IMO I think it is going to be a good thing. Seems to me like he is trying to generate interest nin the stock and then release the big PR. At least that's what i am hoping for
What i am suprised at is he is releasing this piece by piece rather then getting all the infromation together and releasing one HUGE PR
More news tomorrow. Get ready to take off
Thanks Jersey, Hopefully when they do release the details of the deal that will set some minds at ease and thus we will see a lot more interest. I just hope when the release the details we get the rall we are looking for and not a bunch of people trying to make a quick dollar and then we see another sell-off
Trying to get to the green Tod Hopefully it closes strong today, then hopefully we will start seeing a consistant rise in the PPS
Thanks Jersey thats good to hear as a long time share holder but maybe you can shed some light on to why people wouldn't want to take a chance and buy before the news comes out. It is on .08
Does anyone think there is a chance this deal might not go through? Just looking for opinions
I agree with up-down, it seems we have found a bottom at .07. Once people realize the stock isn't going lower we should see the PPS go higher
I see another PR coming before the big announcement. Possibly to try and get the share price up and then we take off. JMO
Nothing is a sure thing in life, but after doing my research i do believe this company has a lot of potential and am willing to risk the money to hopefully reap the rewards
I just figured with all the recent positive news and with the anticipation of more positive news to come there would be a lot more interest in the stock. The price is cheap and if the deal goes through one would imagine that the share price would increase rather quickly. So my point is why wait for the news when you can get in before
Hey Jersey any insite on lack of interest in the stock today
I think we will just sit in this range until there is news to make this turn. I don't see it going higher as the MM can manipulate the stock price
I think in the end these MM's are going to get hurt
Well I have been in it for over a year and i really expect this to go much higher when the news comes out. JMO but i wouldn't want to miss the chance at a huge profit
Trying to free up some more money to buy more shares. Would like to get my position to around a million
Good point. Everyone is not in it for the long haul like some of us are. I wish people would see what potential this company really has
There is a lot of selling going on, not sure why. I hope this is just a little retracement but i didn't expect to see these levels
Quiet Board so far this morning. Anyone got insite on why the stock is stuck in this rane
just waiting for the news to come out. Getting a little anxious but i am sure they are trying to secure the best deal for the company and its shareholders
How's is everyone this morning
Looks like we are going to close on the lows of the day.