I have 180k of this in my acct from way back that cost me .005 forgot all about it. Noticed it today at .04 bid...WTH is up with this news??? 3 BUCKS??? EVIS .04 x 0.00
eVision International, Inc. Acquires Waste-to-Energy Infrastructure Specialist, Richway Energy Holdings Limited
2004-02-25 14:06 ET - News Release
DENVER -- (Business Wire) -- Feb. 25, 2004
eVision International, Inc. (eVision) (Pink Sheets:EVIS)
has entered into an agreement with Richway Partners Ltd. (Richway
Partners) to acquire 100% of Richway Energy Holdings Limited (REHL,
www.richwaygroup.com), whose subsidiaries specialize in the design,
manufacturing, construction, and operation of middle- and large-scale
waste-to-energy management products and systems (collectively "Richway
Group"), for US$55,020,000 to be satisfied by the issue of 18,340,000
restricted common shares of eVision valued at US$3.00 per share.
eVision intends to propose a name change to Richway Energy
(China), Inc. to better reflect its core business direction.
Waste-to-energy is an environmentally friendly solution that
addresses the dual problems of waste storage management and energy
shortages. Richway Group is a waste management group and an innovator
of waste treatment technologies. Richway Group offers an integrated
approach to any type of solid waste processing initiative, including
waste-to-energy planning, project design, project construction
management, installation/commissioning, operation, and financing. It
has successfully pioneered Shenzhen, China's waste-to-energy project.
This waste-to-energy project, which commenced operation in 1999, was
implemented and subsequently became a model for 100% disposal of
municipal solid waste generating electricity in an environmentally
responsible and financially viable manner in China. The success of the
Shenzhen project firmly established the Richway Group at the forefront
of the environmental sector. The Richway Group is also successfully
undertaking international waste management and waste-to-energy
projects in Thailand, Malaysia, the Philippines, India, and Ecuador.
By utilizing its systems specifically suited for local
environmental needs and its strong understanding of the Asian
marketplace, the Richway Group was able to successfully penetrate the
world's biggest market of waste management facilities, China. The
Richway Group is a recognized leader in the region with the practical
and cost-effective application of waste-to-energy systems.
With offices in both Canada and China, and over 150 employees,
Richway has the ability, competence and resources to engineer
environmental management solutions worldwide.
On completion of the agreement REHL's ownership will include: (a)
45% of Richway Investment Management Limited, which owns 95% and 80%,
respectively, of two under-construction waste-to-energy plants (1)
built for 600 tons of waste/day and production of 73.3 million
kwh/year of electricity in Huizhou, Guangdong, China and (2) built for
450 tons of waste/day and production of 45.4 million kwh/year of
electricity in Changchun, Jilin, China; (b) 100% of Richway
Environmental Technologies Ltd. which is the design and engineering
company for Richway Group's waste management systems; (c) 100% of
Richway Energy Builder Ltd.; and (d) 100% of Richway Energy
Development Co. Ltd.
In a separate agreement Richway Partners will acquire from Online
Credit Limited outstanding convertible debenture agreements totaling
US$3,080,073.49 in principal, and their respective accrued, unpaid
interest previously issued by eVision.
This news release may include statements that constitute
forward-looking statements, usually containing the words "believe,"
"estimate," "project," "expects" or similar expressions. These
statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements inherently involve risks and uncertainties that could cause
actual results to differ materially from the forward-looking
statements. By making these forward-looking statements, the company
undertakes no obligation to update these statements for revisions or
changes after the date of this news release.
Contacts:
eVision International, Inc.
Robert H. Trapp, 303-894-7971
rtrapp@evisionusa.com
AI
