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Article: Chartwell International, Inc. Signs Letter of Understanding With Rail Waste Holdings, LLC.
- Article from:
- PR Newswire
- Article date:
- April 20, 2005
CopyrightCOPYRIGHT 2005 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHARLESTON, W.Va., April 20 /PRNewswire-FirstCall/ -- Chartwell International, Inc. (BULLETIN BOARD: CWII) ("Chartwell") announced today that it has signed a firm letter of understanding with Rail Waste Holdings, LLC ("RWH"), pursuant to which the parties agreed to proceed in merger negotiations. The letter of understanding proposes that Chartwell effects a tax free merger by acquiring all of the outstanding membership interests of RWH in exchange for the issuance of shares of common stock of Chartwell. The completion of the proposed transaction is subject to satisfactory due diligence by Chartwell; the securing of required capital by Chartwell to execute the merger ...
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