Encore Energy Systems to Be Acquired as Portfolio Company of Modern Technology Corp
12 Mars 2008 - 3:39PM
PR Newswire (US)
BRIGHTON, Mich., March 12 /PRNewswire-FirstCall/ -- Encore Energy
Systems (Pink Sheets: ENCS) announced today it will be acquired by
Modern Technology Corp (Pink Sheets: MODC). The terms include an
offer to existing Encore shareholders of not less than $0.01 (One
Cent) per share paid in a combination of MODC Common Stock or MODC
Convertible Preferred Stock at the stockholders' option.
Stockholders are not required to sell any shares and will not lose
their ownership interest in Encore. The acquisition of Encore
intends to facilitate investment for growth and build shareholder
equity in preparation for a subsequent spin-off or sale of Encore.
MODC intends to further build Encore's operations, revenue,
shareholder equity, and increase the distribution of its grey-water
patent and related systems. Encore and MODC are actively
communicating with various potential merger partners to increase
stockholder equity through a revenue and asset enhancing business
combination. The companies will release updates on the planned
business combination soon. Encore Energy or Energy Vision
International Stockholders who wish to redeem their stock or have
further questions must email their stockholder information to About
Encore Energy Encore Energy owns the patents for the use of
grey-water, and domestic water in heat exchanger systems. They also
provide all forms of conventional geothermal heat exchange systems.
See video at http://www.encoreenergyinc.com. About Modern
Technology Corp Modern Technology Corp is a specialized holding
company focusing on the purchase of convertible debt instruments
and majority control of public companies for execution of a
'turn-around' strategy and subsequent spin-off. The company's web
address is: http://www.moderntechnologycorp.com Safe-Harbor
Statement This press release contains statements (such as
projections regarding future performance) that are forward-looking
statements as defined in the Private Securities Litigation Reform
Act of 1995. Actual results may differ materially from those
projected as a result of certain risks and uncertainties. The
company's web-site version of this press release contains various
RISK FACTORS (and are incorporated herein by reference) and should
be read before any investment decision. Investor Relations:
Contact: Encore Energy Systems, Inc. Investor Relations
1-888-234-0963 DATASOURCE: Encore Energy Systems CONTACT: Investor
Relations of Encore Energy Systems, Inc., 1-888-234-0963, Web site:
http://www.encoreenergyinc.com/
http://www.moderntechnologycorp.com/
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