Business & Finance
Business and Finance
Business and Finance
Tue, August 11, 2009
Mon, August 10, 2009 Solanex Management Inc.: Solanex Management Inc. Signs Letter of Intent to Acquire Waste to Energy Technology
LAS VEGAS, NEVADA--(Marketwire - Aug. 10, 2009) - The Board of Solanex Management Inc. (OTCBB:SLNX) announces today that Solanex has entered into a Letter of Intent ("LOI") dated July 27th 2009 to acquire certain sales, marketing and distribution rights to a Waste to Energy technology from Alten Power Corporation. The Company has elected to enhance the incineration/gasification component of its business model and considers the availability of electric power from the gasification of Municipal Solid Waste to be an added benefit to potential customers, especially Municipal, State and Federal Governments.
The LOI calls for a due diligence period which is to conclude on or before the 21st of October, 2009. According to the terms of the agreement, the Company would acquire any and all rights to projects that have been initiated by Alten Power Corporation, including but not limited to feasibility/viability assessments for waste to energy facilities in Central and South America, the United States and Canada. The transfer would be completed following payment of $200,000.00 (Two Hundred Thousand USD) plus 3 million common shares of Solanex.
Solanex is also pleased to announce that Mr. Derek Bartlett has accepted a position on the Board of Directors. Mr. Barlett earned a degree in Geology from the University of New Brunswick in 1962. During the last 10 years, he has acted in a consulting capacity and served as President of two junior public mining companies as well as sat on the boards of three other public companies.
About Solanex Management Inc.
Solanex Management Inc.'s business is the development, manufacture, distribution, marketing and sales of alternative, renewable and waste energy technologies. The Steam Injection System is a portable high temperature, high pressure steam generation unit being developed for use by companies who are in the bitumen/heavy oil exploitation business. The Company has made initial arrangements with TS2000-Star Vehicle Technologies Inc., a company that has a production joint venture with a Chinese Manufacturing Group. The Company is currently pursuing bids from other manufacturing companies as well.
For more information on Solanex Management Inc., visit: [ www.SLNX.QualityStocks.net ]
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Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
