Resort Savers acquires 20% interest in Worx America for USD2.0m.
M2 EQUITYBITES-February 4, 2015-Resort Savers acquires 20% interest in Worx America for USD2.0m
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Resort Savers Inc (RSSV) (OTCQB: RSSV), an energy services and technology licensing, marketing and distribution firm in China, announced on Tuesday the signing of a USD2.0m Letter-of-Intent for an equity investment in Worx America Inc, a Houston, Texas based environmental energy engineering company.
Under this investment, RSSV will own 20% of Worx world-wide operations and exclusive China marketing and installation rights for Worx's proprietary technologies, engineering and petroleum industry robotics.
Reportedly, both companies are actively working together in China with customer sales and installations in anticipation of the signing, closing and funding of this equity transaction.
Worx America is It is in the business of designing, developing and implementing proprietary automated technologies for oil tank, reservoir, lagoon and on location field cleaning systems and drilling, off-shore and subsea production technology services. RSSV's marketing is focused on China's largest crude oil refinery operations.
According to the company, its partnership with RSSV now gives it direct access to China's booming oil market and the chance to become an industry leader.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Feb 4, 2015|
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