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Post by Franko10 ™ on Jul 27, 2005 15:15:40 GMT -5
Tantivy Group Inc. Announces the Acquisition of Oretech Inc
Business Editors
LAS VEGAS--(BUSINESS WIRE)--April 4, 2003
The board of directors of Tantivy Group Inc. (OTC BB: TVYG), announced today that the corporation has successfully completed the acquisition of Oretech Inc., a privately held Nevada corporation, along with Oretech's sublicense for a proprietary standard setting new ore processing technology.
When asked about the acquisition, Tantivy CEO/President Stephen D. Cummins responded, "When the board appointed me CEO/president of Tantivy Group, Jim Logan, Tantivy's chairman made it clear that he wanted me to focus my efforts on creating 'real' shareholder value in the company and a diversified revenue base moving forward. I took this charge very seriously. The acquisition of Oretech provides a springboard for us to achieve the strategic goals and objectives of both administrative management and the board. Oretech brings Tantivy a technology that is cost-effective, environmentally friendly and will allow us to maximize the overall yields in our proven reserve base. Additionally, and just as important, Oretech brings a solid management infrastructure to Tantivy. These individuals are all highly educated, have diverse areas of expertise, and have all embraced Mr. Logan's focus on creating and maintaining shareholder value. Oretech had pre-existing relationships in the financial arena that will be of immediate benefit to Tantivy. As a direct result of these relationships, we have an immediate commitment for $150,000 in bridge capital, and a commitment to raise $5 million in a private placement that should be ready for distribution early next week. Because we now have a solid governance infrastructure in place, and can project financial resource availability, it has created an immediate opportunity to move forward with strategic acquisition negotiations. Negotiations are presently on going with two publicly traded companies that, if successful, will create a diversified revenue base as well as a global presence."
When asked about the acquisition, James Logan, chairman of Tantivy responded, "This is exactly why I hired Steve Cummins as CEO/president. He is professional, aggressive and he is focused and he immediately embraced my vision for this corporation. This acquisition creates the basis for what we hope will create a consistently strong share price for our shareholders in the future. I am pleased with the result."
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements contained in this document which are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements.
COPYRIGHT 2003 Business Wire
COPYRIGHT 2003 Gale Group
Business Editors
LAS VEGAS--(BUSINESS WIRE)--April 4, 2003
The board of directors of Tantivy Group Inc. (OTC BB: TVYG), announced today that the corporation has successfully completed the acquisition of Oretech Inc., a privately held Nevada corporation, along with Oretech's sublicense for a proprietary standard setting new ore processing technology.
When asked about the acquisition, Tantivy CEO/President Stephen D. Cummins responded, "When the board appointed me CEO/president of Tantivy Group, Jim Logan, Tantivy's chairman made it clear that he wanted me to focus my efforts on creating 'real' shareholder value in the company and a diversified revenue base moving forward. I took this charge very seriously. The acquisition of Oretech provides a springboard for us to achieve the strategic goals and objectives of both administrative management and the board. Oretech brings Tantivy a technology that is cost-effective, environmentally friendly and will allow us to maximize the overall yields in our proven reserve base. Additionally, and just as important, Oretech brings a solid management infrastructure to Tantivy. These individuals are all highly educated, have diverse areas of expertise, and have all embraced Mr. Logan's focus on creating and maintaining shareholder value. Oretech had pre-existing relationships in the financial arena that will be of immediate benefit to Tantivy. As a direct result of these relationships, we have an immediate commitment for $150,000 in bridge capital, and a commitment to raise $5 million in a private placement that should be ready for distribution early next week. Because we now have a solid governance infrastructure in place, and can project financial resource availability, it has created an immediate opportunity to move forward with strategic acquisition negotiations. Negotiations are presently on going with two publicly traded companies that, if successful, will create a diversified revenue base as well as a global presence."
When asked about the acquisition, James Logan, chairman of Tantivy responded, "This is exactly why I hired Steve Cummins as CEO/president. He is professional, aggressive and he is focused and he immediately embraced my vision for this corporation. This acquisition creates the basis for what we hope will create a consistently strong share price for our shareholders in the future. I am pleased with the result."
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements contained in this document which are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements.
COPYRIGHT 2003 Business Wire
COPYRIGHT 2003 Gale Group
