COREwafer Industries Announces Progress with Acquisition Targets and Recapitalization Plan
19 Diciembre 2014 - 7:00AM
Business Wire
COREwafer Industries, Inc. (Pink Sheets: WAFR) a holding company
whose wholly owned subsidiary, Core Wafer Systems, Inc. (“CWS”) is
the creator of proprietary software with installations worldwide,
today announced that they have identified four acquisition targets.
The Company is in the last stages of negotiations before preparing
the final Letters of Intent detailing the terms of the
acquisitions. In order to enhance the value of these acquisitions,
management has determined that it will be necessary to do a reverse
stock split. Details of the reverse stock split will be announced
within the next two weeks.
Cyril Moreau, President and Chief Executive Officer of WAFR,
commented, “We have elected to effect a reverse stock split to
further our efforts at becoming a fully reporting company by up
listing onto the OTCQB. We believe these acquisitions will
strengthen our financial objectives and increase our footprint in
the Software/Technology Sector and provide benefits to our
shareholders by enhancing long-term shareholder value.”
About COREwafer Industries
COREWAFER INDUSTRIES, INC. (WAFR) is a holding company
headquartered in Hollywood, FL, that operates and manages
subsidiary companies. The goal of WAFR is to strategically acquire
businesses with strong growth potential and a solid business plan
in the software and technology industries. For information, visit
our new website at www.corewaferindustries.com.
CORE WAFER SYSTEMS, INC. (CWS), a wholly owned subsidiary and
Flagship Company of COREwafer Industries, Inc. (WAFR), creates
proprietary software and software algorithms used in the testing
and data mining of the most commonly used computer hard drives,
memory, and magnetics; as well as other advanced magnetics,
semiconductor and nanotechnology-based device components. For more
information, visit www.corewafer.com.
Safe Harbor
This release may contain "forward-looking statements," within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and of Section 21E of the Securities Exchange Act of 1934,
as amended, and such forward-looking statements are made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Those statements include statements regarding
the intent, belief, or current expectations of COREwafer
Industries, Inc. and members of its management, as well as the
assumptions on which such statements are based. Prospective
investors are cautioned that any such forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties, and that actual results may differ materially from
those contemplated by such forward-looking statements. Important
factors currently known to management that could cause actual
results to differ materially from those in forward-looking
statements include fluctuation of operating results, the ability to
compete successfully in its market segment, and the ability to
complete some or all of the before-mentioned transactions. The
company undertakes no obligation to update or revise
forward-looking statements to reflect changed assumptions, the
occurrence of unanticipated events, or changes to future operating
results.
CONTACT: COREwafer Industries, Inc. Teresa McWilliams, Chief
Financial Officer 866-793-1110
t.mcwilliams@corewaferindustries.com
COREwafer Industries, Inc.Teresa McWilliams, Chief Financial
Officer866-793-1110t.mcwilliams@corewaferindustries.com
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