Can-Am Ethanol One Receives $12,000,000 Funding Commitment from Westcap Securities.LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- MEMS (MicroElectroMechanical Systems) Tiny mechanical devices that are built onto semiconductor chips and are measured in micrometers. In the research labs since the 1980s, MEMS devices began to materialize as commercial products in the mid-1990s. USA, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :MEMS). MEMS USA Inc. and Accelon Energy System, Inc. each own 50% of Can-Am Ethanol One, a Canadian corporation which has been formed to design, engineer, build, own, operate and maintain a biomass-to-ethanol processing plant in Canada. Westcap Securities, Inc. of Irvine, California Irvine is an incorporated city in Orange County, California, United States. It is a planned city, mainly developed by the Irvine Company since the 1960s. Formally incorporated on December 28 1971, the 69.7 square mile (180.5 km²) city has a population of 202,079 (as of 2007). has committed to provide, on a best efforts basis, the initial capital for the funding of Can-Am Ethanol One, Inc. As agreed, Westcap intends to raise $12,000,000 to fund the asset-backed acquisition of the project site and initial operating capital Noun 1. operating capital - capital available for the operations of a firm (e.g. manufacturing or transportation) as distinct from financial transactions and long-term improvements capital, working capital - assets available for use in the production of further assets . The funding is convertible into equity in Can-Am Ethanol One, so MEMS USA's and Accelon Energy System's shareholders will not be diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. by this transaction. For more information on MEMS USA, Inc. please visit the company's web site at www.memsusa.com . Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. : This press release may contain statements that constitute "forward-looking statements" as defined under U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "establish," "project" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from MEMS's historical experience and our present expectations or projections. These risks include, but are not limited to, changes in economic conditions; changes in the alternative energy sector business environment, including actions of competitors and changes in consumer preferences; our ability to capture market share; fluctuations in the cost and availability of raw materials or necessary services; our ability to avoid production output disruptions; our ability to achieve earnings goals; regulatory and legal changes; our ability to penetrate developing and emerging markets; 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. uncertainties; and other risks discussed in our filings with the SEC, including our Annual Report on Form 10-KSB, Quarterly Reports on Form 10-QSB, and current reports on Form 13D, which filings are available from the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. We undertake no obligation to publicly update or revise any forward-looking statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. |
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