TidalWave Holdings, Inc. Executes LOI to Acquire Metals Processing Plant; Issues Statement From CEO
SACRAMENTO, CA, Sep 02, 2008 (MARKET WIRE via COMTEX) -- TidalWave Holdings, Inc. (PINKSHEETS: TWVH) today announced that the Company has signed a letter of intent to acquire Noble Metals Processing, LLC, a Florida Limited Liability Company. Under the LOI, the Company intends to acquire a 100% interest in Noble Metals, LLC; including its gold recovery processing plant located in California. The LOI is part of a proposed mergers and acquisitions strategy of Chief Executive Officer Mark D. Klok, which includes a plan to aggressively diversify into the metals, mining, exploration, recovery, and processing industries. Klok noted: "As CEO of TWVH, I plan to begin to utilize my relationships in the mining and metals sector to make TWVH an aggressive emerging metals company in North America. I will be taking steps to move forward with the Company's plans to devise a new corporate direction, bring in new management, and increase shareholder's value. Noble Metals Processing is of major interest to the Company, as the acquisition includes over $500,000.00 worth of processing equipment, as well as high-grade gold deposits located at the Triumph Mine in North America, which have the potential for almost immediate revenue in the coming months. I am excited to be a part of what I feel is going to be one of the biggest new companies to emerge out of North America."
Management is aggressively seeking lucrative acquisition targets that will increase the Company's revenues and shareholder value, while mitigating risk exposure through industry diversification. Mr. Klok is a mergers and acquisitions veteran, with extensive experience in the precious metals industry and Oil & Gas. He has identified numerous synergistic domestic and foreign targets within North America and expects to bring many more opportunities to the company in the very near future. The LOI with Noble Metals Processing, LLC will be completed upon the execution of customary definitive agreements.
Additionally, Mr. Klok has also been elected to the Company's Board of Directors. Management would like to take this opportunity to reiterate that Mr. John Beebe has resigned and holds no position as either an officer or director of the Company. No previous management remains affiliated with the company or holds, directly or otherwise, any of the Company's outstanding securities, or any instrument convertible into any of the Company's securities. Mr. Beebe's resignations, together with the Amendment of Officer Change and Company Address Change have been updated with the State of Florida. The changes can be viewed at www.sunbiz.org.
ABOUT TIDALWAVE HOLDINGS
TidalWave Holdings, Inc. (PINKSHEETS: TWVH), an innovative mining company headquartered in California, strives to increase shareholder value, while implementing aggressive plans to continue targeting near term mining production projects within North America. TWVH's management, directors, and advisors hold an abundance of experience and knowledge to implement expansion in this rapidly growing industry.
