Advanced ID Corporation, A Leading RFID Company, Receives Support in a Transaction to Purchase 2.1 Million Shares
Business Wire - February 01, 2006 12:21
CALGARY, Alberta, Feb 01, 2006 (BUSINESS WIRE) -- Advanced I.D. Corp. announced today that a group of its investors has instituted a private buyback program of 2.1 million shares of Advanced I.D. (AIDO) stock from Heritage Ventures over the next year.
The largest shareholder in Advanced I.D. Corporation (OTCBB:AIDO) (AIDO), Heritage Ventures Ltd. (HVL), has agreed to sell 2.1 million shares of Advanced I.D. Corporation stock to a group of private investors. Heritage Ventures currently holds over 35% of stock in the company.
According to David Goldenberg, President of HVL and a Director of AIDO, "The structure of this purchase allows HVL to enjoy increased liquidity and provides further investment in sustained growth. Heritage is, and will continue to be the largest shareholder in Advanced I.D. Corporation. We believe in the value of Advanced I.D. Corporation, the leadership team, the continued research and the positive application of Advanced I.D. Corporation products that is being realized. We feel this transaction will be good for Advanced I.D. Corporation. We are also encouraged that Advanced I.D. Corporation is receiving positive results through the release of the DataTag(TM) UHF livestock identification system, and that Advanced I.D. Corporation continues to be a market leader in companion animal identification for Canada, through Advanced Pet I.D.. We feel this recent opportunity as well as other factors indicate continued and sustained growth of Advanced I.D. Corporation."
THE THRILL OF VICTORY ;-) & THE AGONY OF DEFEAT ;-(
