Automated Transfer Systems Corp. -- Update.DENVER--(BUSINESS WIRE)--June 3, 1998--Automated Transfer Systems (OTC/BB:ATNY ATNY Apartment Therapy New York ) FORMAL AGREEMENTS EXECUTED: The company is pleased to announce that formal agreements have been executed with Laxarco Holding Limited to acquire a controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in Carbon Resources Limited. As announced previously, Carbon Resources Limited is a Company committed to reducing greenhouse gases greenhouse gas n. Any of the atmospheric gases that contribute to the greenhouse effect. greenhouse gas by converting them to valuable petroleum products. The conversion of these remote gas reserves into valuable synthetic fuels Synthetic fuel or synfuel is any liquid fuel obtained from coal, natural gas, or biomass. It can sometimes refer to fuels derived from other solids such as oil shale, tar sand, waste plastics, or from the fermentation of biomatter. is considered to be the focus of the natural gas industry for the 21st Century. The Company is holding an Annual General Meeting on June June: see month. 5, 1998 to approve the transaction, following which additional information on Carbon Resources will be released. WILSON CREEK UPDATE: Stone Canyon Resources Inc., the Company's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , has been advised by the Operator of the Wilson Creek 14-34 well that the Alberta Department of Highways has lifted the road ban restrictions, and the drilling rig has been removed from the site. The Operator is currently preparing a completion program for submission to all joint venture partners for approval and expects to proceed at the earliest opportunity with completion of the well. Further updates will be forthcoming at that time.
CONTACT: Automated Transfer Systems Corp., Denver
The Company, 888/818-3927 (Toll free in North America)
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