SNMN (on radar)>>>> SNM Global Acquires $12,500,000 Small Hydro Technologies: Solutions for 1.7 Billion Without Power
2010-07-20 08:30 ET - News Release
LONDON -- (MARKET WIRE) -- 07/20/10
SNM Global Holdings (PINKSHEETS: SNMN) announced today the signing of an Intellectual Property (IP) Transfer Agreement with EQ-ip Equities (EQ-ip) under which the Company acquires, for development and international distribution, core Small & Micro Hydro technology from the EQ-ip extensive Intellectual Property Portfolio.
Access to electricity is one of the keys to development, as it provides light, heat and power for productive uses and communication. Today 1.7 billion people in developing countries do not have access to electricity, most of them living in rural areas.
The acquisition is valued at $12,500,000 purchased through an equity-building issuance of Preferred Stock and will create no debt for the Company.
This transaction is the first in a series of anticipated acquisitions under the Letter of Intent Agreement signed earlier this month with EQ-ip, a private technology and licensing holding company, to acquire, develop, distribute, and commercialize certain technologies from its portfolio.
EQ-ip specializes in clean energy technologies and solutions for emerging economies. SNM Global Holdings will acquire a portfolio of nascent and commercial technologies and Intellectual Property currently valued in excess of $49,000,000.
The Company has moved quickly to implement its recently announced operations, new business strategy and business plan, including its pioneering MicroTechnology Transfer Program and MicroEquity Partner Program.
SNM Global's MicroTechnology Transfer (mt2) Program and MicroEquity Partner Program enable the acquisition, development, and transfer of technologies that will provide for the betterment of society and provide the catalyst for emerging markets to leapfrog into the sustainable sectors that will drive the twenty-first century.
The newly acquired technologies and/or technology groups will be placed in the appropriate stage of the Company's MicroTechnology Transfer (mt2) Program and MicroEquity Partner Program; and will be introduced into SNM Global's distribution network for emerging market insertion and introduction.
The company believes its new and enhanced operational plan will provide significant revenue, equity growth, and serve the betterment of emerging economies.
SNM Global's MicroTechnology Transfer (mt2) Program is designed to further the commercialization of promising technologies that will benefit emerging markets in four key areas:
Energy -- Clean, Renewable, and Sustainable Energy
Health -- Better Health & Living
Water -- Drinking Water, Irrigation & Sanitation
Agriculture -- Green Biotechnology
The Company encourages collaboration with public, private and institutional partners in all phases of the development and technology transfer cycle; and accepts submissions from both collaborative development, distribution and inventor partners through the Collaboration Portal on its new website at www.SNMNglobal.com.
The company anticipates numerous technology and operational acquisitions and will continue to provide regular updates. The Company will soon announce additional details alongside full operational and financial disclosures.
