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The acquisition was completed on an all-stock basis.
In recent years, H & T has expanded its physical plant and built handling facilities to increase capacities and broaden its product lineup beyond seeds to a variety of farm inputs including chemical products. It has shown significant growth in top line revenues over the last two years. Background information from H & T corporate literature will be posted on Pink Sheets shortly.
H & T requests that all inquiries from existing shareholders and followers be directed to the company's investor relations representative Phone 1 860-819-3746 and or consultant@theinvestorsline.com and not to the operating subsidiary H & T directly.
In other corporate updates, the management is pleased to advise that the closing (sale) of its I.T.I. Bio-Tech operating subsidiary division is undergoing its final review(s). The management expects to make the announcement of that transaction shortly, and provide further details of the transaction at that time.
One of the ongoing aspirations of MONA is to obtain a lead market maker with the filing of a 15c2-11 so that MonArc securities can trade on a fully solicited basis. Amongst other things, recent changes in the industry have made audited financial statements a pre-requisite by market makers prior to such a filing. The Issuer is optimistic that it will be able to provide satisfactory audited financial statements for H&T Processing as the new operating entity within MonArc to facilitate this process. The company expects to begin this 15c2-11 process shortly.
Further updates on these transactions and various outstanding and previously announced dividend distributions will be forthcoming as developments unfold.
Safe Harbor Statement
Information in this press release or filing may contain statements about future expectations, plans, prospects or performance of MonArc Corporation that constitute forward-looking statements for purposes of the safe harbor Provision's under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project," and similar words and phrases are intended to identify such forward-looking statements. MonArc Corporation cautions you that any forward-looking information provided by or on behalf of MonArc Corporation is not a guarantee of future performance. None of the information in this press release or filing constitutes or is intended as an offer to sell securities or investment advice of any kind. MonArc Corporation's actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond MonArc Corporation 's control. In addition to those discussed in MonArc Corporation's press releases, public filings, and statements by MonArc Corporation's management, including, but not limited to, MonArc Corporation's estimate of the sufficiency of its existing capital resources, MonArc Corporation's ability to raise additional capital to fund future operations, MonArc Corporation's ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities and, in identifying contracts which match MonArc Corporation's capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. MonArc Corporation does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
CONTACT: For corporate matters contact: corporate@monacorporation.com
SOURCE MonArc Corporation (MONA)
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