The BigHub.com, Inc. Enters Negotiations to Acquire Machining and Fabrication Company
Date : 07/11/2008 @ 3:31PM
Source : MarketWire
Stock : Techlabs, Inc. (TCHL)
Quote : 0.007 0.0 (0.00%) @ 3:43PM
The BigHub.com, Inc. Enters Negotiations to Acquire Machining and Fabrication Company
JENSEN BEACH, FL announced today that it is in final negotiations to acquire a Company specializing in machining, fabrication, equipment distribution, and industrial infrastructure support. Approximately 20% of its unaudited 2007 revenues were derived from coal and energy related industries. The company expects that the transaction will be completed by the end of July.
As part of the transaction Techlabs, Inc. (PINKSHEETS: TCHL) will acquire approximately 64% of The BigHub.com, Inc., bringing its ownership to approximately 71% overall. No further details of the transaction were available.
The BigHub.com, Inc. is expected to submit for relisting on the pinksheets shortly after the transaction is completed.
Techlabs, Inc. (www.techlabsinc.net) is a holding company specializing in acquiring interests in high growth entities through direct investments in a targeted entity. The Company intends to develop these strategic investments utilizing its ability to access capital markets and professionals necessary for the effective execution of the acquisition's business plan.
This contemplated acquisition is the latest in a series of anticipated entities to be developed under the Holding Company. Currently, the Company's portfolio of companies will include real estate, energy and food distribution.
For further information regarding the company, contact Techlabs, Inc. at (267) 350-9210.
This news release contains "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements as a result of various factors, including those set forth in Techlabs, Inc.'s and The BigHub.com, Inc.'s filings with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein and not place undue reliance on such statements. The forward-looking statements are made as of the date hereof and Techlabs, Inc. and The BigHub.com, Inc.
undertake no obligation to update such statements.
Contact
Techlabs, Inc.
(267) 350-9210
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