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EGM International, Inc. Announces That It Has Entered into a Share Exchange Agreement with Easy Modern Works Co., Ltd.
May 1, 2006 3:38:00 PM
Copyright Business Wire 2006
NEWBURY PARK, Calif. & OSAKA CITY, Japan--(BUSINESS WIRE)--May 1, 2006--
EGM International, Inc. ("EGM") (OTC: EGML), a Delaware corporation, announced that it has signed a share exchange agreement with Easy Modern Works Co., Ltd. ("Easy Modern Works") a Japanese road pavement materials manufacturer headquartered in Osaka, Japan.
The terms of the proposed share transaction are as follows: EGM will exchange 8,000,000 shares of its common stock with the shareholders of Easy Modern Works for 100% of the issued and outstanding common stock of Easy Modern Works. Upon conclusion of the proposed share exchange transaction the shareholders of Easy Modern Works Co., Ltd. will own approximately sixty percent (60%) of the issued and outstanding common stock of EGM International, Inc.
Easy Modern Works is a manufacturer of road pavement material made of recycled concrete utilizing a patent pending manufacturing process. The resulting pavement material is highly durable with the ability to absorb and withstand high temperatures over a sustained period of time.
Certain statements contained in this press release may be forward-looking in nature. The likelihood of the transaction discussed going forward is subject to a variety of risks and uncertainties and, consequently investors should not assume that the transaction will be consummated. Factors that could cause the transaction not to go forward include, but are not limited to, the following: (1) failure to obtain shareholder approvals for the transaction; (2) unfavorable economic and industry conditions , and (3) other unanticipated conditions and developments. Neither EGM International, Inc. nor Easy Modern Works Co., Ltd. make any commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made.
Source: EGM International, Inc.
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