W Technologies, Inc. Finalizes Sale of Joint Venture With 1World Direct Hong Kong to HealthMed Services, Ltd.
HUNTINGTON BEACH, CA--(Marketwired - Feb 17, 2015) - W Technologies, Inc. (OTC PINK: WTCG) announced today that it has completed the sale of its interest in a Joint Venture with 1World Direct Hong Kong to HealthMed Services, Ltd., (OTC PINK: HEME).
Gary Koelsch, President of W Technologies, stated, "1World Direct Hong Kong has several pending acquisitions, and joint ventures with other companies in the health and medical services business, and is expanding its network worldwide which will give value to HealthMed Services, Ltd. The Ten Million shares of HealthMed Services common stock which is being issued to W Technologies, will be held by our corporate counsel until the shares can be distributed to shareholders of W Technologies as an in-kind dividend."
Bruce J. Howe, President of Health Med Services, said, "We are pleased to have completed this transaction with W Technologies. The 1World Direct Joint Venture which the Company is acquiring has a lot to offer HealthMed Services in the way of new business, ideas, and technologies required to meet the growing and challenging needs for the worldwide health and medical services industry."
About W Technologies, Inc.
W Technologies, Inc., whose stock is publicly traded under the symbol WTCG.PK, is a diversified holding company with the mission to develop, manage and finance emerging companies. W Tech will be involved in the development of new social media and digital advertising technologies, new environmentally-safe oil and gas recovery technologies, new clean water technologies, and financial services involving residential and commercial real estate. The Company expects to bring a paradigm shift in the use of these new technologies in the respective business sectors and to develop new methods to finance its affiliated companies. Through its subsidiaries and affiliates with their experienced personnel, W Tech will seek to grow through acquisitions, joint marketing arrangements and organic growth in emerging markets.
W Technologies, Inc.
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February 17, 2015 08:00 ET (13:00 GMT)