Company Announces Negotiations.VANCOUVER, British Columbia--(BUSINESS WIRE)--Aug. 18, 1999-- The Board of Directors of Chill Tech Industries, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CHIL CHIL Current Hogging Injection Logic CHIL Consolidated Hazardous Items List ) have announced today that the Company has entered into negotiations with a California based software development company under which Chill Tech would acquire internet software technologies of the Company. For the past eleven months, the Company has been marketing and preparing to manufacture the "Arctic Can"(TM), a self-chilling beverage container owned and developed by Will-bes & Co., Ltd. of Seoul, South Korea. Representatives of Will-bes & Co., Ltd. have indicated that they have been experiencing technical and administrative delays which are hindering hin·der 1 v. hin·dered, hin·der·ing, hin·ders v.tr. 1. To be or get in the way of. 2. To obstruct or delay the progress of. v.intr. the introduction of the product into the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. marketplace. As Chill Tech has the manufacturing and distribution rights for North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , and has met all of its contractual obligations, these delays will prohibit the Company from proceeding with the "Arctic Can"(TM) in the near future. While the Board of Directors strongly believes that these delays shall be overcome, the immediate interests of the Company and its shareholders are best met by diversifying into an alternative business. To this end, the "Arctic Can"(TM) shall become a subsidiary of Chill Tech Industries, Inc. thus allowing the Company to acquire this new business opportunity. For further information about Chill Tech Industries Inc., and new developments in the Company, please visit our web site at www.chilltech.com The above statements regarding the business of Chill Tech Industries, Inc. are not purely historical rather are 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. within the meaning of 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, including Chill Tech Industries, Inc. beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to Chill Tech Industries, Inc. as of such date. It is important to note that actual outcome and actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative and marketplace changes. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion