Coronado Explorations Ltd. Completes Merger With Naturol, Inc.Business Editors LAS VEGAS--(BUSINESS WIRE)--Jan. 22, 2002 Coronado Explorations Ltd. (The Company) (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :COOX) announced today that it has completed its merger with Naturol Inc., a Nevada corporation A Nevada Corporation is a corporation chartered under the laws of the U.S. state of Nevada. Nevada, like the state of Delaware (See Delaware corporation), is well known as a corporate haven. ("Naturol"). Naturol holds the exclusive U.S. license to proprietary, leading edge, cost effective technology for extraction of Oils and Bioactive bi·o·ac·tive adj. Of or relating to a substance that has an effect on living tissue. bioactive having an effect on or eliciting a response from living tissue. compounds from natural materials. Pursuant to the terms of the Merger, the Company has issued 50,000,000 shares of its 144 restricted common stock in exchange for 100% of Naturol's outstanding common stock. Naturol will now operate as 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 the Company. Additionally, post closing of the Merger, the current directors of the Company will resign and the directors of Naturol Inc. will be appointed to serve as replacement board members. These appointments will be the subject of further announcements. Naturol Inc. is dedicated to becoming a global leader in the commercialization of technology for the production of low cost, high quality extracts from natural materials. Naturol's proprietary technologies will offer a benign, cost effective, alternative to current extraction technologies and will produce high quality extracts to be used in the $2.8 billion U.S. market for pharmaceuticals, food, flavors and fragrances industries. 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. : The statements in this press release regarding the merger, future opportunities and any other effect, result or aspect of the transaction and any other statements, which are not historical facts, are forward looking statements. Such statements involve risks and uncertainties, including, but not limited to, costs and difficulties related to the integration of acquired businesses, costs, delays, and any other difficulties related to the merger, risks and effects of legal and administrative proceedings An administrative proceeding is a non-judicial determination of fault or guilt and may include in some cases penalties of various forms. A "Captain's Mast", held by a commanding officer of a warship is one such proceeding. and governmental regulation, future financial and operational results, competition, general economic conditions, and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize ma·te·ri·al·ize v. ma·te·ri·al·ized, ma·te·ri·al·iz·ing, ma·te·ri·al·iz·es v.tr. 1. To cause to become real or actual: By building the house, we materialized a dream. , or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. |
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