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Hat Trick Beverages Inc. (Pink Sheets: HKBV - http://finance.yahoo.com/q?s=HKBV.PK ) (Wed, Sep 3, 2008, 5:55pm ET) Hat Trick Beverages Inc., the issuer announced that its cold beverage division has picked up a major and a significant new distribution in the State of Arizona.
The Company, working with its Arizona distributor, Pinnacle Distributing, has just achieved listings in a total of over 500 new store locations. The Company's Pumped Fitness beverage, shaped in a unique, proprietary package to look like dumbbell weights, will now be available in Hi Health Stores, an upscale grocery chain, as well as Fry's, an important mid-market grocery chain.
Hat Trick Beverage CEO, Sender Vaiser commented; "This is a significant win. These are strong, mid-sized retailers and they are demonstrating faith in the product concept. The combination of an excellent all-natural, lightly sweetened fruit flavored line of fitness waters, coupled with a breakthrough packaging concept has started to attract a lot of interest from distributors as well as retail chains.
The Company is also in discussions with a major national retailer, although it is early on in the negotiations process. The fact that we even have the attention of a major national retailer underlines the potential retail volume we can achieve with this product".
The issuer expects, and projects its initial order of 20,000 cases to begin filling the retail pipeline with product, in September with up to 250,000 cases of anticipated fulfillment.
The entire contract has a face value of $3,900,000.00 to the issuer.
Welwind Energy International Corp. (OTCBB: WWEI - http://finance.yahoo.com/q?s=WWEI.OB ) (Thu, Sep 4, 2008, 9:00am ET) Welwind Energy International Corp. (the ''Company''), announces that it has successfully signed a binding joint venture partnership for a 49% interest in a wind farm project owned by Ningxia Electric Power Corp. (NEP).
'A La Shan Zuo Qi Windfarm Ltd.' (project company of NEP) is a 49.5 MW wind farm, expandable to 400 MW. The partnership will give Welwind a 49% interest in the entire project. Welwind will provide the debt financing for the project and also provide technical support along with turbine equipment manufacturing and construction. NEP has a signed Power Purchase Agreement (PPA price: 0.08 cents USD/KWH) dated August 5, 2008 from the Neimeng Provincial Development and Planning Commission.
''As we wait for an update from the Zhanjiang Government for Welwind's current wind farm project, we continue to forge ahead on building out the company's business model. This joint venture with one of China's largest wind farm developers allows the company to continue its growth and maintain momentum,'' says Tammy McNabb, President of Welwind.
Vortex Resources Corp. (OTCBB: VTEX - http://finance.yahoo.com/q?s=VTEX.OB ) (Thu, Sep 4, 2008, 9:30am ET) Vortex Resources Corp. (the "Company") announced that it has signed a Memorandum of Understanding (the "MOU") to enter into a definitive asset purchase agreement with Blackhawk Investments Limited ("Blackhawk"), based in London, England. Blackhawk will exercise its exclusive option to acquire all of the issued and allotted share capital in Sandhaven Securities Limited ("SSL"), and its underlying oil and gas assets in NT Energy (about 62% control). NT Energy holds rights to mineral leases covering approximately 12,972 acres in the Barnett Shale. The leases are located in Parker, Jack and Palo Pinto counties of Texas containing proved and probable undeveloped natural gas reserves. SSL is a wholly owned subsidiary of Sandhaven Resources plc ("Sandhaven"), a public company registered in Ireland, and listed on the Plus exchange in London.
Under the terms of the agreement, Blackhawk will exercise its option to acquire the leases and then transfer such leases to Vortex Resources Corporation. A more detailed explanation of the deal terms can be found in the Company's Form 8-K filed today.
The above transaction is subject to the drafting and negotiation of a final definitive agreement, performance of due diligence as well as the Board approval of the Company. There is no guarantee that the Company will be able to close the above transaction or that the transaction will be closed on the above stated terms.
Commenting on the potential acquisition, Mike M. Mustafoglu, Chairman of the Company, stated: "We are excited about entering the Barnett Shale play with acreage of this size and quality. As you know, Barnett field, a mega-shale play, is the most mature out of the emerging shale plays in that it has been aggressively developed since the beginning of the decade. This acquisition conforms to our philosophy of entering drilling projects where risks have been adequately identified in order to produce stable and attractive risk-adjusted returns for our shareholders. We believe the emergence of new technologies to allow us economically exploit our acreage has great potential to increase our reserve base dramatically."
Yossi Attia, the CEO of Vortex added: "We are pleased that we will be joining a list of distinguished companies such as Chesapeake, Devon EOG, XTO and Quicksilver operating in the Barnett Shale. According to studies made by NT Energy, this acreage is capable of supporting the drilling of 108 wells. Each successful well usually contains 1 Bcf to 1.5 Bcf of reserves. We will work diligently to minimize our finding and development costs by employing the latest technology to optimize our returns for our shareholders."
Genelabs Technologies, Inc. (NASDAQ: GNLB - http://finance.yahoo.com/q?s=gnlb ) (Wed, Sep 3, 2008, 1:00pm ET) Genelabs Technologies, Inc. announced the appointment of Frederick W. Driscoll as President and Chief Executive Officer and as a member of its Board of Directors. Genelabs is a biopharmaceutical company focused on the discovery and development of novel compounds for infectious diseases.
Mr. Driscoll most recently served as Genelabs' Chief Financial Officer and has been sharing CEO responsibilities with Irene A. Chow, Ph.D., the Company's Executive Chairman. He has more than 30 years of financial management and operational leadership experience in the biotechnology and medical device industries. Prior to joining Genelabs he was employed by OXiGENE, Inc., initially as Vice President Finance and Operations and subsequently as President and Chief Executive Officer. During his tenure at OXiGENE, Mr. Driscoll built strong relationships with institutional investors, investment banks and research analysts and successfully recapitalized the company through private and public financings, enabling the company to advance its lead oncology investigational drug CA4P from Phase 1 to Phase 3 clinical development. Previously, Mr. Driscoll served as Senior Vice President of Finance and Operations for Collagenesis Corporation and Vice President-Finance for Instrumentation Laboratory.
Commenting on the appointment, Irene A. Chow, Ph.D., Executive Chairman of Genelabs, stated "Fred is a proven leader with significant executive and financial experience in the context of discovery and development stage life science companies." Dr. Chow added, "We have been impressed with his strong decision making abilities and team oriented leadership style. His leadership and experience relating to the establishment and management of corporate alliances is of particular value to us in the continued growth of our business."
"I am very enthusiastic about taking on this new role at Genelabs," stated Mr. Driscoll. "We have built an excellent employee base with vast experience in the infectious disease area and more specifically in the hepatitis C field. It is our overarching goal to advance one of our proprietary novel HCV compounds into clinical research and to help address the high unmet medical need in patients infected with HCV."
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