Ag ARMENO Mines and Minerals - Letter of Intent with Ontro.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , British Columbia--(BUSINESS WIRE)--July 18, 1997-- Ag ARMENO Mines & Mi (VSE See DOS/VSE. VSE - Virtual Storage Extended :AGM AGM annual general meeting AGM n abbr (= annual general meeting) → AG f AGM n abbr (= annual general meeting) → JHV f , OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :AROYF) The Company is pleased to announce that it has entered into a binding letter of intent with Ontro, Inc. of California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). , U.S.A. ("Ontro") to acquire, for $740,290 (U.S.), 329,018 common shares of Ontro and a warrant to purchase up to 958,466 additional common shares of Ontro at varying prices. If all the shares are acquired, then the Company will become the largest shareholder of Ontro. This acquisition by the Company is for investment purposes and is subject to Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. regulatory approval. Ontro is a U.S. based private company and is engaged in the research and development of interactive thermal containers. Ontro has produced working prototypes of a disposable disposable Nursing adjective Referring to that which is discarded or disposed of noun An item used in health care-related Pt contact which is discarded after use–eg masks, gloves, gowns, needles, paper products, syringes, wipes. See Biohazardous waste. self-heating beverage container in a similar size and shape as typical beverage cans A beverage can is most often an aluminium can manufactured to hold a single serving of a beverage. Overview The early metal beverage can was made out of steel (similar to a tin can) and had no pull-tab. . Ontro's self-heating beverage containers are being designed to heat such items as coffee, tea, other beverages, soups and baby formula. Ontro's self-heating containers are heated by pressing a button on the bottom of the container. Activating the button causes the contents of the container to be heated to a pre-determined range of temperatures within a specified range of time periods. The current design of Ontro's self-heating containers heat the contents inside the container through a patented and patent pending process developed by Ontro. Ontro currently has a semi-automated production facility designed to manufacture and assemble self-heating beverage containers. The current production facility and assembly line is intended to demonstrate the commercial viability of the manufacturing process for Ontro's self-heating containers. Ontro intends to use a portion of the proceeds received from the Company to relocate re·lo·cate v. re·lo·cat·ed, re·lo·cat·ing, re·lo·cates v.tr. To move to or establish in a new place: relocated the business. v.intr. and expand the production capacity of the existing assembly line and to improve certain components thereof. Ontro's primary strategy is to be a leading provider of interactive thermal container and related technology to food, beverage and other manufacturers. The principal elements of Ontro's business plans and strategies include licensing interactive thermal container technologies to major manufacturers who will produce, market, and distribute interactive thermal containers utilizing Ontro's designs and technologies; developing new technology for additional markets such as containers for medical and industrial products; maintaining leadership in these developing markets through continuous research, development and marketing efforts; and developing or co-developing with customers or distributors, potential products designed for a focused market segment which utilize interactive thermal containers and may not interfere with existing licenses or licenses which may potentially be granted by Ontro to major producers. Ontro has entered into an evaluation agreement (the "Evaluation Agreement") with a U.S. Division of a major international beverage corporation ("the U.S. Division"). The U.S. Division and its parent companies are the first major food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. manufacturer to evaluate the potential of entering into a license of Ontro's technologies. The Evaluation Agreement allows the U.S. Division an exclusive period to review Ontro's designs and technology in order to determine the U.S. Division's interest, in acquiring rights for the commercial use of Ontro's self-heating food and beverage container. The Evaluation Agreement requires the U.S. Division to cooperate with Ontro in evaluating the commercial uses and market for Ontro's technology, and includes an obligation to pay for one- half the cost of certain market research studies. Furthermore, Ontro is presently conducting discussions with several other major household consumer food and beverage corporations in respect to Ontro's interactive thermal containers. On behalf of the Board, per: Jacob Jacob (jā`kəb), in the Bible, ancestor of the Hebrews, the younger of Isaac and Rebecca's twin sons; the older was Esau. In exchange for a bowl of lentil soup, Jacob obtained Esau's birthright and, with his mother's help, received the blessing H. Kalpakian, vice president Note: The information contained herein has neither been approved nor disapproved by any stock exchange on which the Company's shares are listed. CONTACT: Ag ARMENO Mines & Minerals Inc. Jacob H. Kalpakian, 604/681-1519 Fax: 604/ 681-9428 1-800-665-3119 (U.S.) |
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