Resource Ventures, Inc. Announces That It Has Divested Itself From Its Unprofitable Subsidiary
(firmenpresse) - SILVERADO, CA -- (Marketwired) -- 07/22/13 -- Resource Ventures, Inc. (PINKSHEETS: REVI) President Bob Thompson announced today the Board of Directors has decided it is in the best interest of the Company and its Shareholders to divest itself from its unprofitable wholly owned subsidiary Global Energy Management LTD. (GEM).
The Board of Directors has obtained a Majority Shareholder Consent to discontinue any business association with Global Energy Management LTD. and its subsidiaries, which was acquired through the actions of an Asset Purchase Agreement dated August 23, 2012 and a Share Purchase Agreement dated March 14, 2013. All stock issued in the transactions will be cancelled and returned to treasury.
The Board adds that the Company and the Shareholders have derived no economic benefit, as well as noting, the large amount of capital which would be required from the company's continued association with Global Energy Management LTD.
Management believes this action will allow the company to concentrate on its profitable existing business, and allow the company to pursue other ventures that could financially benefit the Company and its Shareholders. Resource Ventures Inc. remains profitable with December 31, 2012 revenues over $1.5 Million dollars.
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To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.
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Datum: 22.07.2013 - 14:00 Uhr
Sprache: Deutsch
News-ID 1247548
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