Napier Shareholders Approve Biowash Merger.VANCOUVER, B.C.--(BUSINESS WIRE)--Sept. 21, 1999-- Napier International Technologies Inc. (NIR NIR Near Infrared NIR National Inventory Report NIR National Identity Register (UK) NIR Near-Infrared Reflectance NIR Non-Ionizing Radiation NIR Net International Reserves NIR National Internet Registry NIR Northern Ireland Railways .TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). ) and Biowash Products Inc. are pleased to report that shareholders of Napier have voted overwhelmingly in support for the merging of the two companies. The deal when concluded will see Napier issue 8 million shares (2 million of which will be escrowed until combined sales achieve a milestone of $10.0 million) and 1 million warrants at $1.26 per share. A cash payment of Cdn $3.0 million will be paid to the Biowash shareholders at closing, expected to be on or about October 20, 1999. On closing, Peter Palkovsky and Brian Morse will become Directors and Strategic Officers in the Napier management team. Mr. Palkovsky, current President of Biowash with over 15 years of management experience in the coatings, contract painting and stripping industry, will become President of Napier and directly oversee all market development strategies. Mr. Aelicks, current President of Napier, will become Chairman to manage corporate development and the public affairs Those public information, command information, and community relations activities directed toward both the external and internal publics with interest in the Department of Defense. Also called PA. See also command information; community relations; public information. of Napier. Brian Morse, with over 30 years of chemical research development and manufacturing experience, will be appointed Vice President of Research Development and Operations. The three above named officers as well as Napier's chief chemist and inventor INVENTOR. One who invents or finds out something. 2. The patent laws of the United States authorize a patent to be issued to the original inventor; if the invention is suggested by another, he is not the inventor within the meaning of those laws; but in that of Napier's entire product line, Sergio Vitomir, have all agreed to minimum 3 year contracts to dedicate ded·i·cate tr.v. ded·i·cat·ed, ded·i·cat·ing, ded·i·cates 1. To set apart for a deity or for religious purposes; consecrate. 2. their expertise and enthusiasm to the growth of this great new opportunity. Shareholders have also given the directors the discretion to change the name of the Company from Napier International Technologies to Napier Environmental Technologies Inc. or such other similar name as may be approved by the Napier Board and the Registrar of Companies The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. . ON BEHALF OF THE BOARD OF DIRECTORS Bradley T. Aelicks, President/Director The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. neither approves nor disapproves the contents of this news release which was prepared solely at the discretion of management. |
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