NanoTech Completes Acquisition of High Velocity En
Post# of 96892
Posted On: 02/02/2015 4:42:12 PM
NanoTech Completes Acquisition of High Velocity Enterprises, Inc.
Announces Corporate Reorganization and Management Plan
"SAN JOSE, Calif., Feb. 2, 2015 /PRNewswire/ 14:12 ET-- NanoTech Entertainment (OTCPINK: NTEK) , an entertainment conglomerate leveraging technology to deliver state-of-the-art products and services, announced today that it has completed the acquisition of a controlling interest in High Velocity Enterprises, Inc. (HVEL) as part of an overall corporate reorganization. NTEK will place the NanoTech Gaming Labs division into HVEL which will include the division's IP portfolio and full gaming operations.
With the acquisition complete, NanoTech shareholders of record as of February 6, 2015 will be allocated shares in HVEL equivalent to their percentage of ownership in NTEK. Shares will be issued to NTEK shareholders upon effectiveness of a to be filed Form S-1 Registration Statement with the Securities and Exchange Commission ("SEC"
pursuant to the Securities Act of 1933 as amended. NanoTech will strive to complete the shareholder allocation as soon as possible, but cannot provide a specific date of issuance until the transaction has been approved the appropriate regulatory authorities.
HVEL shareholders will benefit from the immediate acquisition of NanoTech Gaming Labs Staff, Technology, IP Portfolio and product line up. HVEL will immediately change its name to NanoTech Gaming, Inc. ("NanoTech Gaming" and apply for a new ticker symbol to reflect the new name. NTEK will retain the majority controlling interest in NanoTech Gaming..." (much more)
http://www.prnewswire.com/news-releases/nanot...29304.html
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Jim
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Announces Corporate Reorganization and Management Plan
"SAN JOSE, Calif., Feb. 2, 2015 /PRNewswire/ 14:12 ET-- NanoTech Entertainment (OTCPINK: NTEK) , an entertainment conglomerate leveraging technology to deliver state-of-the-art products and services, announced today that it has completed the acquisition of a controlling interest in High Velocity Enterprises, Inc. (HVEL) as part of an overall corporate reorganization. NTEK will place the NanoTech Gaming Labs division into HVEL which will include the division's IP portfolio and full gaming operations.
With the acquisition complete, NanoTech shareholders of record as of February 6, 2015 will be allocated shares in HVEL equivalent to their percentage of ownership in NTEK. Shares will be issued to NTEK shareholders upon effectiveness of a to be filed Form S-1 Registration Statement with the Securities and Exchange Commission ("SEC"
pursuant to the Securities Act of 1933 as amended. NanoTech will strive to complete the shareholder allocation as soon as possible, but cannot provide a specific date of issuance until the transaction has been approved the appropriate regulatory authorities. HVEL shareholders will benefit from the immediate acquisition of NanoTech Gaming Labs Staff, Technology, IP Portfolio and product line up. HVEL will immediately change its name to NanoTech Gaming, Inc. ("NanoTech Gaming"
and apply for a new ticker symbol to reflect the new name. NTEK will retain the majority controlling interest in NanoTech Gaming..." (much more) http://www.prnewswire.com/news-releases/nanot...29304.html
__________________________________________________
Jim
.
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