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Article: The Avalon Group Ltd Acquires Controlling Interest in Domestic Energy Corporation.
- Article from:
- Business Wire
- Article date:
- October 12, 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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HONEOYE FALLS, N.Y. -- Domestic Energy Corporation. (OTC.PK: DMEC)("Domestic Energy" or the "Company") announced today that on the 10th of October 2009 the majority shareholders and the Board of Directors reached an agreement with the Avalon Group Limited for the acquisition of controlling interest in the Company.
The Avalon Group Ltd will move to recapitalize the Company over the next few months. The focus of Avalon will be to merge several of the Groups North American and International natural resource projects into Domestic Energy to advance the Company into a consistent and positive revenue stream. Pursuant to the terms of the agreement, the board of ...
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