AMNE, MCCI, ZCNW, MGLG what a week and 2 more days to go :)
Seakinetics Corporation Completes Its Intention to Acquire Controlling Interest in Marketing Concepts International Inc.
2009-05-14 09:45 ET - News Release
TORONTO, ONTARIO -- (MARKET WIRE) -- 05/14/09
Marketing Concepts International Inc. ( the "Company") (PINK SHEETS: MCCI) and Seakinetics Corporation (FRANKFURT: M90) announced that they have finalized the agreement affording Seakinetics Corporation a controlling interest in Marketing Concepts International. Seakinetics will participate in funding initiatives as required to provide additional working capital to Marketing Concepts. These funding infusions are expected to fuel substantial growth in revenues.
The Company's President and CEO, Kenneth W Mann confirmed that the final agreement provides for an exchange of treasury stock from each Company as follows: Seakinetics, which currently trades on the Frankfurt Exchange at roughly 1.75 Euro per share, will deposit into the Company's trust account 160,000 restricted shares of its stock with a current market value of USD $328,000 in exchange for a 37.5% interest in Marketing Concepts International. Seakinetics will retain a further option for an additional 15% of treasury stock issued under rule 144 at a discount of 10% to market.
Seakinetics will be appointing one board member to the Board of Directors of Marketing Concepts International within the next 60 days.
Seakinetics was established for the purpose of designing, developing, marketing and investing in innovative technologies and services in the renewable energy field. Seakinetics' mission is to be the best in finding solutions for renewable energy today and for the foreseeable future.
This release may include projections of future results and "forward-looking statements" as that term is defined in Section 27A of the Securities Act of 1933 as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934 as amended (the "Exchange Act"). All statements that are included in this release, other than statements of historical fact, are forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable; it can give no assurances that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the expectations disclosed in this release, including, without limitation, in conjunction with those forward-looking statements contained in this release.
Contacts:
Email: info@marketingconceptsintl.com
Website: www.marketingconceptsintl.com
