CRL announces purchase of balance of Cata Chem Inc.BROOKS, Alberta--(BUSINESS WIRE)--Jan. 16, 1996--Canadian Chemical (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :CRL CRL - Carnegie Representation Language. Carnegie Group, Inc. Frame language derived from SRL. Written in Common LISP. Used in the product Knowledge Craft. ) Canadian Chemical Reclaiming Ltd. ("CRL"), owner of 51 percent of the issued and outstanding shares of Cata Chem Inc., a private corporation, of Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the , today announced that it has entered into a letter of intent to purchase the remaining 49 percent of the issued and outstanding shares of Cata Chem Inc. The purchase price proposed to be paid includes the issuance of 500,000 common shares of CRL at a deemed price of $0.65, or an aggregate sum of $325,000 Cdn. The transaction is subject to regulatory body approval and is anticipated to close in the near future. Upon conclusion, Cata Chem Inc. will become a 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. of CRL. Cata Chem Inc. has developed a chemical additive additive In foods, any of various chemical substances added to produce desirable effects. Additives include such substances as artificial or natural colourings and flavourings; stabilizers, emulsifiers, and thickeners; preservatives and humectants (moisture-retainers); and with world-wide application for oxygen scavenging scavenging of anesthetic. See anesthetic scavenging. and corrosion inhibition. These products react instantly with oxygen entering gas treated systems to inhibit the formation of heat stable salts. These products also promote the formation of a protective, passive metal layer over the entire processing unit. The benefits of these products will help facilities minimize operating and maintenance costs while maximizing plant performance, reliability and efficiency. U.S. plants that have been using these products have advised CRL that they are very impressed with the benefits gained; such as operational stability and cost savings. The Alberta Stock Exchange has neither approved nor disapproved of the contents of this press release. CONTACT: Elson McDougald Todd Beasley Tait White 403/362-6229 |
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