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News for 'PLRO' - (Stockholders Approve Contribution Agreement at Special Meeting; Shareholders Vote in Favor of All Proposals; Update on Closing of Contribution Agreement)
VANCOUVER, BC, Apr 13, 2007 (MARKET WIRE via COMTEX) -- Platinum Research
Organization, Inc. (the "Company") (OTCBB: PLRO) today announced it received
approval from its stockholders for completing the proposed Contribution
Agreement transaction with Platinum Research Organization, L.P. et al. at the
Special Meeting held April 12, 2007. The approval is an important step towards
completion of the transaction which is expected to occur within the next week.
At the meeting the stockholders also approved the reincorporation merger of the
Company with its wholly owned subsidiary in order to redomicile the Company from
Nevada into Delaware and to update the corporate Charter documents of the
Company. The Company has taken immediate steps to complete the reincorporation
merger which will become effective as of today's date, April 13, 2007. The
trading symbol and CUSIP number of the Company will not change because of the
reincorporation merger.
The stockholders also voted to elect six directors on close of the Contribution
Agreement -- Messrs. Thomas G. Plaskett, Cork Jaeger, Allan McArtor, Arnold
Burns, Ben du Pont, and Mike McMillan. Furthermore, shareholders adopted an
incentive equity plan.
"We look forward to quickly completing the Contribution Agreement and enhancing
stockholder value by the resultant change of business this entails," said Ms.
Cecelia Pineda, President and C.E.O. of the Company.
PLATINUM RESEARCH ORGANIZATION, INC.
/s/ Cecelia Pineda
Per:
Cecelia Pineda, President & C.E.O.
Forward-Looking Statements
Certain statements made in this document are forward-looking. Such statements
are indicated by words such as "expect," "should," "anticipate," "may" and
similar words indicating uncertainty in facts and figures. Although the Company
believes that the expectations reflected in such forward-looking statements are
reasonable, it can give no assurance that such expectations reflected in such
forward-looking statements will prove to be correct. Actual results could differ
materially from those projected in the forward-looking statements as a result of
a variety of factors.
For further information please contact:
Charles Moskowitz
Focus Partners Inc.
Telephone: 781-826-8882
SOURCE: Platinum Research Organization, Inc.
Copyright 2007 Market Wire, All rights reserved.
-0-
SUBJECT CODE: Chemicals:Petrochemicals
Environment:Air Pollution Control
Environment:Regulations and Law
Environment:Hazardous Materials Management
Source: Comtex Wall Street News
Theoretical physics can prove an elephant can hang from a cliff with its tail tied to a daisy, but use your eyes -- your common sense ----
please DD before you buy or sell
Jimstr
