Tickers: XTSX:HTC, XOTC:HTPRF, PINX:HTPRF
Tags: #AlternativeEnergy, #Technology, #Bioceuticals, #Cannabis
May 26, 2020 - TheNewswire - Regina, Saskatchewan - HTC Extraction Systems (also the "Company" and/or "HTC") (TSXV:HTC) (OTC:HTPRF) is pleased to announce that it has, pursuant to a share purchase agreement ("SPA"), acquired the remaining 22% ownership of Maxx Group of Companies ("Maxx"), resulting in Maxx becoming a wholly owned subsidiary of HTC. Pursuant to the SPA, HTC purchased the twenty-two thousand (22,000) Class A shares in Maxx from a party at arm's length to HTC, for $2,686,200 ("Consideration"). The Consideration is payable by a three-year, non-interest bearing, promissory note. This transaction has been approved by the board of directors of the Company.
HTC's Extraction Systems group has for over 14 years developed and optimized proprietary extraction and purification systems that have been designed for extraction and for the distillation and purification of ethanol and ethanol-based solvents, used for biomass, gas and liquid extraction.
HTC's Delta Purification(TM) technology will purify, recycle and reuse the extraction ethanol used in the CBD extraction process, while managing and reducing any CBD waste losses through the re-extraction of all wastes collected from the purified ethanol.
Lionel Kambeitz will be appointed to the board of directors of Maxx.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE RELEASE.
HTC corporate developments can be followed on www.htcextraction.com and is traded under the symbol HTC
This press release contains "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward- looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of HTC. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur or be achieved. This press release contains forward-looking statements pertaining to, among other things, the Corporation's ability to pay the Consideration as set out herein.
Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by HTC and described in the forward-looking information contained in this press release.
Although HTC believes that the material factors, expectations and assumptions expressed in such forward- looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance.
HTC Purenergy Inc. (OTCQB:HTPRF) trades on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com. (links to: http://www.otcmarkets.com/stock/htprf/quote.
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