Eagle Building Technologies Signs Letter of Intent With Advanced Construction and Manufacturing Technologies.Business Editors BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla.--(BUSINESS WIRE)--Aug. 23, 2002 Eagle Building Technologies (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :EGBT EGBT Evil Geniuses for a Better Tomorrow ) today announced that it has signed a Letter of Intent with Advanced Construction and Manufacturing Technologies-Puebla (ACMT-P), a private 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. , whereby Eagle will purchase a portion of the equity of ACMT-P. The Letter of Intent grants Eagle a fifty-one percent (51%) equity interest in ACMT-P as well as access to ACMT-P's current and future commitment to provide mortarless wall system components and technology services for approximately 42,000 homes in Mexico. These homes are to be built by government and trade union entities over the next five (5) years. Eagle will convey two million two hundred and forty-four thousand (2,244,000) shares of Eagle common stock for the acquisition. The value of these shares for the purposes of the acquisition will be six dollars ($6.00) per share. The shares will be restricted from resale resale n. selling again, particularly at retail. In many states a "resale license" or "resale number" is required so that the state can monitor the collection of sales tax on retail sales. RESALE. for one year and, thereafter, ACMT-P shall not sell more than seven hundred and forty-eight thousand (748,000) shares in any one calendar year without the written consent of Eagle. Eagle expects this transaction to be completed by September 4, 2002. In commenting about the acquisition, Eagle President Dan Curlee stated, "We are very pleased to be able to complete this acquisition. Our partnership gives us access to another important geographic area whose need for affordable, energy efficient, disaster resistant housing we can meet. It also positions Eagle as a value-added builder who can select the alternative mortarless wall system appropriate for each geographic location." This news release contains 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. These forward-looking statements are based on current expectations or beliefs, including, but not limited to, statements concerning the Company's operations and financial performance and condition. For this purpose, statements of historical fact may be deemed to be forward-looking statements. |
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