ESTI and SMC Complete Due Diligence.Business Editors NEW YORK--(BUSINESS WIRE)--Sept. 6, 2002 Environmental Strategies & Technologies International, Inc. (ESTI ESTI European Solar Test Installation ESTI European Society of Thoracic Imaging ESTI Esthetician ESTI Easy Software Technologies, Inc (Philippines) ESTI Enhanced Self Timed Interface ) (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ESTT ESTT Equivalent Safety Task Team ) announced today that ESTI and SMC SMC Saint Mary's College SMC Santa Monica College SMC Solaris Management Console SMC Smooth Muscle Cell SMC Small Magellanic Cloud (also see LMC) SMC Safety Management Certificate (maritime shipping) Environmental Group (SMC) have signed waivers acknowledging that they have completed their due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. requirements, which is a condition to the acquisition of SMC by ESTI under the Agreement and Plan of Reorganization of July 20, 2002. The final closing of the transaction is expected to take place on or about October 31, 2002, allowing time for completion of legal, regulatory and audit requirements. Sameer Hirji, President of ESTI, said, "Our due diligence gave us no surprises. SMC is a very healthy company with a strong track record in the environmental field and has exponentially growing revenues. We are confident that the acquisition of SMC will be a powerful step in achieving our company's vision of becoming a significant entity in the environmental sector." About ESTI Environmental Strategies & Technologies International Inc. is a holding company which intends to acquire and develop complementary environmental technologies and businesses that will cross-sell and promote within its focused portfolio of products and services. About SMC Environmental Group (www.smcenvironmental.com) SMC Environmental Group is a diversified environmental services The various combinations of scientific, technical, and advisory activities (including modification processes, i.e., the influence of manmade and natural factors) required to acquire, produce, and supply information on the past, present, and future states of space, atmospheric, firm that consists of three operating entities -- SMC Environmental, SMC Advisors and SMC Capital. SMC is recognized by clients for its ability to provide cost-effective solutions that integrate business, financial, technical and regulatory requirements. In association with strategic partners, the firm can bring to bear innovative technology and solutions that go beyond environmental management and extend into areas such as information and data management, environmental liability transfer and strategic consulting on risk management matters. This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of ESTI to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. In particular, there is no assurance that ESTI will consummate the acquisition of SMC on terms beneficial to ESTI, or at all. Other risks include the small size of SMC Environmental as compared to many of it competitors, the need for additional capital, dependence on key personnel, the frequency and magnitude of environmental disruptions, SMC's ability to win remediation and other contracts, SMC's ability to obtain bonding, the effect of new laws New Laws: see Las Casas, Bartolomé de. or regulations relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc environmental remediation and economic conditions. Discussions of other factors, which may affect future results, are contained in ESTI's most recent SEC filings on Forms 10-Q and 10-K. |
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