Amtech Resources Ends Merger Negotiations with Chinese Real Estate Developer; Company Completes Definitive Merger with Hat Trick Beverage.NEWPORT BEACH Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. , Calif. -- Amtech Resources, Inc. (Pink Sheets:ARII ARII American Railcar Industries Inc (St Louis, Missouri) ) today announced that the company has ended talks with Xin Xiong Ye Real Estate Development, Inc. of the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China (PRC). Although Amtech shareholder approval was obtained, the PRC had not given the go ahead on the merger. It was anticipated that final approval was months away, if at all. Given the circumstances, the Board of Directors felt it in the best interest of shareholders to discontinue the merger. "Unfortunately we cannot, in the best interest of our shareholders, wait for approval from China," stated Mary Nicastro, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Our attorneys advised us that this could drag out beyond the first of the year and we were presented with the opportunity to acquire Hat Trick hat trick n. Sports 1. Three goals scored by one player in one game, as in ice hockey. 2. Three wickets taken in cricket by a bowler in three consecutive balls. 3. Beverage. We are extremely excited about their company and are convinced that this is a superior transaction overall." "We have accomplished our intermediate goal of bringing Hat Trick public," stated Larry Twombly, CEO of Hat Trick. "Our company is well financed and the public arena will give us the opportunity to expand our brands through acquisition. We are extremely optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op about the next 12 months." Hat Trick Beverage, located in Encinitas, CA, produces and distributes three water based beverages; Snap Z Energy drink, a bag-in-a-box beverage sold in bars and restaurants, Vitality Beverage, a sugar free-vitamin enriched beverage and Dos Lagos, an agua fresca drink for the growing Hispanic community. Vitality Beverage and Dos Lagos are produced in a number of popular flavors. Disclaimer: The Company relies upon the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. ; competition; and other factors which may be identified from time to time in the company's public announcements. |
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