Has there been a follow up to this pr from a year ago? When was the acquisition finalized?
Encore Energy Systems to Be Acquired as Portfolio Company of Modern Technology Corp
BRIGHTON, MI - March 12, 2008
Encore Energy Systems (Pink Sheets: ENCS) announced today it will be acquired by Modern Technology Corp (Pink Sheets: MODC).
The terms include an offer to existing Encore shareholders of not less than $0.01 (One Cent) per share paid in a combination of MODC Common Stock or MODC Convertible Preferred Stock at the stockholders' option. Stockholders are not required to sell any shares and will not lose their ownership interest in Encore.
The acquisition of Encore intends to facilitate investment for growth and build shareholder equity in preparation for a subsequent spin-off or sale of Encore.
MODC intends to further build Encore's operations, revenue, shareholder equity, and increase the distribution of its grey-water patent and related systems.
Encore and MODC are actively communicating with various potential merger partners to increase stockholder equity through a revenue and asset enhancing business combination. The companies will release updates on the planned business combination soon.
Encore Energy or Energy Vision International Stockholders who wish to redeem their stock or have further questions must email their stockholder information to shares@encoreenergyinc.com
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