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Article: FORMCAP Enters into Joint Venture Development Agreement with MLXjet, Inc and MLXjet Media Corp.
- Article from:
- Business Wire
- Article date:
- March 19, 2009
CopyrightCOPYRIGHT 2009 Business Wire. 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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SAN DIEGO -- FORMCAP CORP (FRMC.PK) a product and services development company, today announced that it had entered into a Joint Venture Development and Operating Agreement with MLXjet, Inc. and MLXjet Media Corp.
The ownership and revenue interests of the Parties under this Joint Venture shall be a 60% (sixty percent) interest to FORMCAP and a 40% (forty percent) interest to MLXjet Inc. FORMCAP shall be the operator and/or manager of the JV Assets and the Joint Venture.
PURPOSE AND CREATION OF THE JOINT VENTURE AND PROJECT
The Assets of MLXjet and FORMCAP are to be owned and operated jointly as the Joint Venture. The Joint Venture will develop ...