RITTENHOUSE CAPITAL CORP. ISSUES ANNOUNCEMENT
RITTENHOUSE CAPITAL CORP. ISSUES ANNOUNCEMENT WILMINGTON, Del., Nov. 4 /PRNewswire/ -- Rittenhouse Capital Corp.
(OTC), a Delaware corporation, today announced that closing on the Plan of Reorganization between Rittenhouse and North American Environmental Corporation (North American) will be consummated on or before Nov. 14, 1991, at which time 90 million shares of Rittenhouse common stock will be issued to North American Technologies, Inc. and James Impero, the sole shareholders of North American.
Simultaneously with the reorganization, Rittenhouse said it anticipates that a 10:1 reverse split of the common stock will be implemented, at which time there will be approximately 11.5 million shares of common stock outstanding. North American is a corporation which specializes in the business of researching, developing, extracting, producing, processing and marketing of environmental cleanup and remedial services primarily in the area of hydrocarbon contaminated soils. Although the management of both Rittenhouse and North American said they believe closing will take place, until the occurrence of certain events, there can be no assurances that closing will be effectuated. /delval/ -0- 11/4/91 /CONTACT: Cecile T. Coady of HMA Investments, 215-563-5630, for Rittenhouse Capital/ CO: Rittenhouse Capital Corp.; North American Environmental Corporation; North American Technologies, Inc ST: Delaware IN: SU: MK-JS -- PH011 -- 0696 11/04/91 11:27 EST
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|Date:||Nov 4, 1991|
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