Aquatic Cellulose International Corp. Announces Signing of Memorandum of Understanding to Lead Next Generation Business.Business Editors VERNON, British Columbia--(BUSINESS WIRE)--Feb. 18, 2003 Aquatic Cellulose International Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : AQCI) announces the signing of a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. with Douglas Beatty, President, Beatty Marine Exploration Group Inc. Over the course of the last 12 months, it has become clear that it is necessary to expand the scope of Aquatic Cellulose International Corp's mandate. "After evaluating several lucrative opportunities, I am excited to announce our new alliance with Beatty Marine, a diverse team of sales, service, media, marine salvage, and underwater specialists," declared Gary Ackles, President and Chief Executive Officer. "This will surely be an exciting move for Aquatic, as we expand and diversify into a wide range of underwater industries." Once ratified, Beatty will report directly to Gary Ackles and have end-to-end responsibility for all elements of Aquatic Cellulose International Corp. business - including business development, products, investor communications, research, IP, salvage, marketing, multi-media services, and sales. "We are committed to the long-term success and growth of our business," said Gary Ackles. "The marine industry remains a top priority for us. I am confident Doug will ensure our continued momentum and focus on technology innovations and applications in the marine industry for the benefit of our shareholders worldwide," quoted Gary Ackles. Aquatic Cellulose International Corp. is an industry leader and innovator with the expanded mandate of marine robotic technology development and implementations. Aquatic Cellulose's present robotic system robotic system An integrated system of devices that automate production and manufacturing of goods and services Surgery An AI-based surgical assistant system, which processes sensory input from haptic interfaces and/or allows surgeons to act with more accuracy than , the Aquatic Timber Harvester harvester, farm machine that mechanically harvests a crop. Small-grain harvesting has been mechanized to a certain extent since early times. In the modern period the first harvester to gain general acceptance was made by Cyrus McCormick in 1831 (see reaper). , safely locates, cuts and recovers submerged timber without risking the lives of divers. Aquatic Cellulose specializes in the commercial recovery and processing of this nonliving resource to offer high-quality wood products that protect living forests and the environment. About Douglas Beatty Douglas Beatty holds an honors degree in Biology, and has extensive experience in the Private and Public Marketplace, holding executive positions. He has had the pleasure of working with many Fortune 500 companies, including corporations such as Coca-Cola, Kraft, Glaxco Welcome, Molson's, and AT&T, as well as hosting, promoting, producing, and co-writing Internationally renowned Mr. Anthony Robbins seminar "The Paradigm Advantage". Douglas's past experience as 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. earned him the reputation of being a "hands on leader", and in 2000, he was awarded the "Businessman of the Year" award for South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. . Most recently Douglas has founded Beatty Marine Exploration Group Inc., in order to capitalize on the depth of his world-wide network of marine expertise. This press release contains statements that constitute forward-looking statements, as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that may cause or contribute to such differences include, among other things, the Company's dependence on one customer, seasonality of the Company's retrieval business and risk of future losses from operations. Other risks and uncertainties include changes in business conditions and the economy in general, changes in governmental regulations, unforeseen 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. and other risk factors identified. The Company undertakes no obligation to update these forward-looking statements for revisions or changes after the date of this press release. The NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). has neither approved nor disapproved of the information contained herein. |
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