Advanced Technology Industries Inc. Completes Acquisition of Nurescell Inc. Stock.Business Editors BERLIN--(BUSINESS WIRE)--Jan. 18, 2001 Advanced Technology Industries Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AVDI) has completed the acquisition of 3.5 million shares of Nurescell Inc. (OTCBB:NUSL NUSL Northeastern University School of Law NUSL National Underground Science Laboratory NUSL Naval Underwater Sound Laboratory ) common stock from Adrian Joseph and his wife Dianna. Joseph is the chief scientific advisor of Nurescell. Nurescell has developed a material for the shielding and internment internment, in international law, detention of the nationals or property of an enemy or a belligerent. A belligerent will intern enemy merchant ships or take them as prize, and a neutral should intern both belligerent ships that fail to leave its ports within a of radioactive materials and radioactive waste radioactive waste, material containing the unusable radioactive byproducts of the scientific, military, and industrial applications of nuclear energy. Since its radioactivity presents a serious health hazard (see radiation sickness), disposing of such material is a as well as providing attenuation Loss of signal power in a transmission. Attenuation The reduction in level of a transmitted quantity as a function of a parameter, usually distance. It is applied mainly to acoustic or electromagnetic waves and is expressed as the ratio of power densities. of X-ray energy. The acquisition was completed via a share exchange based on a ratio of 1:1. Advanced Technology Industries ("ATI (ATI Technologies Inc., Markham Ontario, http://ati.amd.com) A leading manufacturer of graphics chips and display adapters. Founded in 1985 by K. Y. Ho, Benny Lau and Lee Lau, ATI chips and boards are widely used by OEMs. ") is now the largest shareholder of Nurescell owning approximately 22% of the current outstanding shares of NUSL. Additionally, ATI has entered into discussions with two other shareholders of Nurescell to acquire an additional 1.1 million shares of Nurescell common stock. The completed and proposed stock acquisitions represent a strategic investment on behalf of ATI as it moves to consolidate its interests in the market segments of nuclear shielding and remediation. ATI is currently a 49% shareholder in Nurescell AG, a Germany-based joint venture, with Nurescell owning the remaining 51% of Nurescell AG. Nurescell AG has been granted a license for the Nurescell proprietary nuclear shielding technology in Europe and Russia. ATI continues to explore the acquisition of additional nuclear shielding and remediation technologies in Germany and from former research institutes in the Russian Federation Russian Federation: see Russia. as a key element of its business plan to develop turnkey solutions to the problems associated with low-level, high-level and mixed nuclear waste. Forward-Looking Statements This news release may contain certain statements that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements which look forward in time include everything other than historical information or a summary of agreements actually entered into, and involve risks and uncertainties that may affect ATI's actual results of operation. Although ATI believes that the expectations reflected in forward-looking statements are reasonable, management can give no assurance that such expectations will prove to have been correct. |
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