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Datameg Corp (OTCBB: DTMG) (Mon, December 10, 2007, 10:00am ET) Datameg Corp. announced it has completed the acquisition of American Marketing & Sales Inc. D/B/A Innovative Designs. Datameg announced in August that it had entered into an agreement to acquire the company for 15 million unregistered shares of Datameg common stock.
American Marketing & Sales, a $10 million company that markets finished food packaging products nationwide to major supermarkets and food retailers, will be operated as a wholly-owned subsidiary of Datameg. The company expects to close the previously-announced acquisition of Computer Ctr.com in January 2008.
Founded in 1999 in Leominster, Mass. by Leonard J. Tocci, American Marketing & Sales Inc. had 2006 revenues of just under $10 million and annual growth of 15 to 20 percent in the past three years. Mr. Tocci remains with Datameg as President of American Marketing and Sales and as a member of the senior management team of Datameg.
"When we report our numbers next year, we believe people will agree that we're a new Datameg" said Jim Murphy, Datameg CEO. "With this firm financial foundation, we expect to be able to report continued progress in our aim of creating a dynamic company."
In the company's 10QSB for the third quarter, Datameg's wholly-owned subsidiary Net Symphony discussed plans for delivery in December 2007 of a working prototype based on plans and engineering designs developed in the second and third quarters of 2007. That delivery appears to be on schedule.
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Gemini Explorations Inc. (OTCBB: GXPI ) (Mon, December 10, 2007, 2:30am ET) ("Gemini") is pleased to report that it has completed negotiations for financing the modernization and complete re-development of the Los Chorros Gold Mine. The first tranche of US$500,000 should be received by Gemini in the next 5 days and the second tranche of US$300,000 within 14 days. The total cost of the project is estimated to be US$595,900, adding a contingency factor of 30% would bring the maximum projected total to US$774,700.
The Los Chorros Mine is currently being mined with extremely antiquated equipment and this report further solidifies Gemini's belief that the project could be turned into a highly efficient producing gold project with low capital costs. Current mining operations at Los Chorros recover a low percentage of the available gold and precious metals present on the property. The plant would initially run at 30 to 50 tonnes/day with a targeted production rate of 100 tonnes per day during the first year. Minera Primecap Geological Services (MPGS) reported that a 100 tonne per day production rate would produce US$1,080,280 monthly and over US$12,900,000 annually. These estimates are based on US$730 per ounce gold with US$200 per ounce operating and production costs netting US$530 per ounce.
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Tower Tech Holdings Inc. (OTCBB: TWRT) (Mon, December 10, 2007, 9:16am ET) announced today that it has signed a definitive agreement to acquire Energy Maintenance Service, LLC, a Gary, South Dakota-based full service provider to the wind industry. EMS's offerings include construction, operations and maintenance and component repairs.
"With the acquisition of EMS, our customer portfolio will expand to include major wind turbine manufacturers which represent a majority of the North American market," said Cam Drecoll, CEO of Tower Tech. Drecoll added, "EMS's integrated service approach to wind customers is well-recognized in the industry and will serve as a springboard to further opportunities for Tower Tech."
We look forward to further announcements regarding additional locations and service offerings which are now possible through our partnership with Tower Tech. Tower Tech's management philosophy matches up very well with that of EMS regarding employees, allowing us to continue our commitment to advancing employee career growth through extensive training and development programs."
EMS is a full service provider to the wind energy industry with over 170 employees throughout the United States. EMS offers operations services which include engineering and construction, training and wind farm management. EMS also offers repair and retrofit services, including gear box, blade and other component repairs. EMS is led by Joe Kolbach, who will continue as part of the leadership team at Tower Tech after the closing of the transaction.
The terms of the transaction will be available on a separate form 8-K filed with the SEC. The transaction is expected to close by the first quarter of 2008.
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Patriot Scientific Corporation (OTCBB: PTSC ) (December 10, 2007, 9:00am ET) announced today that Alpine Electronics, Inc. has purchased a Moore Microprocessor Patent (MMP) Portfolio license. From its headquarters in Japan, Alpine is mainly engaged in the manufacture and sale of automobile audio, information and navigation systems for OEM and aftermarket channels worldwide.
"This agreement is a wonderful recognition of the strength and broad scope of the MMP Portfolio," said Joe Minville, vice president of Licensing for Alliacense, Patriot Scientific's commercialization partner.
"Alpine is the fourth new licensee of our patented microprocessor technology in just eight days, and the 29th overall," added Patriot Scientific President and CEO Jim Turley. "We're delighted to add Alpine to the list of well-known licensees. The technology that was developed for our own products has now proven to be useful to other companies' innovations as well."
The sweeping scope of electronics applications that use MMP design techniques continues to encourage manufacturers of end-user products from around the world to license the MMP technology. More than 25 global companies have purchased licenses including AMD, Intel, Hewlett Packard, Casio, Fujitsu, Sony, Nikon, Seiko Epson, Pentax, Olympus, Kenwood, Agilent, Lexmark, Schneider Electric, NEC Corporation, Funai Electric, SanDisk, Sharp Corporation, Nokia, Bull, LEGO, DMP Electronics, Denso Wave, Philips, TEAC, Daewoo Electronics and Lite-On IT.
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