EditWorks Ltd. Finalizes Technology Acquisition and Announces Symbol Change.Business Editors CAPISTRANO BEACH, Calif.--(BUSINESS WIRE)--April 5, 2001 EditWorks Ltd. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :EDWL EDWL Eula and David Wintermann Library (Eagle Lake, TX) ) announced today that its symbol will change from EDWL to TRLT TRLT The Road Less Traveled (Poem) effective at the open of business on Friday, April 6, 2001. EditWorks will change its name to TriLucent Technologies Corp. The name and symbol changed as a result of the closing of its acquisition of TriLucent Technologies Inc., a developmental resource firm that specializes in the exploration of oil and gas. Jerry Witte, a geoscientist and the current CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and president of TriLucent, has assumed the same responsibilities for the combined entity. Witte, a 25-year veteran of the oil and gas industry, has been involved with alternative location technologies for the past several years, and most recently with Sonat Exploration Inc., a subsidiary of El Paso El Paso (ĕl pă`sō), city (1990 pop. 515,342), seat of El Paso co., extreme W Tex., on the Rio Grande opposite Juárez, Mex.; inc. 1873. Energy Corp. (NYSE NYSE See: New York Stock Exchange :EPG (Electronic Program Guide) An online listing of TV or other programs. Periodically, EPGs are downloaded into set-top boxes so that viewers can preview offerings by time or category and set reminders. ) which has just merged with Coastal Resources (NYSE:CR). Witte commented, "The completion of this merger will enable the company to continue its financing efforts and implement its operational strategies." TriLucent's technologies field tests have indicated an increase in the chance of commercial success of exploratory drilling for oil and gas from the industry standard of 20% to more than a 50% success rate. These technologies can significantly reduce the risks and exploratory costs associated with oil and gas drilling. Specifically, the TriLucent's technologies focus on the direct detection of hydrocarbons and their associated by-products. Identifying the presence of hydrocarbons and their by-products allows TriLucent to achieve the expected high success rates, which has the largest variable in oil and gas exploration hereto here·to adv. To this document, matter, or proposition. hereto Adverb Formal or law to this place, matter, or document Adv. 1. . These technologies along with TriLucent's proven prospect generating ability will ultimately create greater economic potential for the company, which will correspondingly create greater value for its shareholders. TriLucent's Risk Reduction Technologies were developed on a proprietary basis and have patent pending status with the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Patent office. For more information about TriLucent Technologies Corp., visit www.trilucent-technologies.com. 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. Statement under 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: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expressions. Any statements with respect to the success rates of exploratory drilling for oil and gas utilizing TriLucent's technologies are based solely on the historical experience of TriLucent, and there are no assurances that these success rates can be obtained in every instance of exploratory drilling. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of EditWorks Ltd. (the company) to differ materially from those expressed or implied by such forward-looking statements. (Such factors include, among others, the risk factors contained in the company's filings with the Securities and Exchange Commission.) In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. The company will remain dependent upon future financing for its growth and development, and for it to successfully implement its business plan. No statement contained herein should be construed as indicating that such financing is or will be available, and if available, will be on terms favorable to the company. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof. |
|
||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion