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Article: Coretec Inc. and Unicircuit, Inc. to Merge
- Article from:
- CCNMatthews Newswire
- Article date:
- May 16, 2005
CopyrightCopyright 2005 CCNMatthews Newswire. Provided by ProQuest LLC. (Hide copyright information)
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TORONTO, ONTARIO--(CCNMatthews - May 16, 2005) - Coretec Inc.
(TSX:CYY) -
- A leading PCB supplier to the defence/aerospace sector is
created
- Top 10 in North America with sales approximating US$100 million
Coretec Inc. (TSX:CYY) reported today that it has entered into a
non-binding Letter of Intent to merge with Unicircuit, Inc. Coretec
will issue 6.0 million common shares in exchange for all the common
shares of Unicircuit. Coretec will also issue US$3.1 million of a new
class of preferred shares in exchange for US$3.1 million of preferred
shares of Unicircuit as well as assume approximately US$3.9 million
of Unicircuit's net debt.
"Unicircuit's Littleton operation is a world class, ...