EMPS Research Corporation Announces Agreement to Acquire Condesa Pacific, S.A.
December 09 2004 - 4:22PM
PR Newswire (US)
EMPS Research Corporation Announces Agreement to Acquire Condesa
Pacific, S.A. SALT LAKE CITY, Dec. 9 /PRNewswire-FirstCall/ -- EMPS
Research Corporation (OTC:EMPS) (BULLETIN BOARD: EMPS) announced
today that it has reached an agreement to acquire 100% of the
outstanding capital stock of Condesa Pacific, S.A., in exchange for
35,000,000 common shares of EMPS Research Corporation. This
agreement is subject to the satisfactory completion of certain
terms and conditions by the parties. Upon consummation of the
agreement, the shareholders of Condesa Pacific will hold 90% of the
outstanding common stock of EMPS Research Corporation. Condesa
Pacific, S.A., is a British Virgin Islands international business
company whose primary asset is an exploration and production
contract held by its wholly-owned subsidiary Kaznickel, LLP. The
exploration and production contract, which was issued by the
Ministry of Energy and Mineral Resources of the Republic of
Kazakhstan, grants Kaznickel the exclusive right to explore for and
produce nickel, cobalt and other minerals in the 616 hectare
Gornostayevskoye field located in the Beskaragaiskiy region of
eastern Kazakhstan. Dr. Terrence Chatwin, President of EMPS
Research Corporation said, "We are pleased to announce this
agreement and intend to consummate the acquisition of Condesa
Pacific in the immediate future. We believe this acquisition
represents a significant opportunity for EMPS Research and once we
are successful in attracting desired investment funds, we will
begin extensive exploration activities within the Gornostayevskoye
field." Since its inception in 2001, EMPS Research Corporation has
been engaged in the research and development of a patented
technology for a novel high frequency eddy current separator for
use in separating nonmagnetic particulate materials. With the
consummation of the acquisition, EMPS Research will shift its
business focus to the exploration and production of the
Gornostayeskoye field. The corporate offices of EMPS Research are
located in Salt Lake City, Utah. With the consummation of the
acquisition, it is anticipated that EMPS Research will also open
corporate offices in Semipalatinsk and Astana, Kazakhstan. For more
information please contact Dr. Terrence Chatwin at (801) 581-6348.
The information contained in this release includes forward-looking
statements that are subject to risks and uncertainties that could
cause actual results to differ materially. Certain statements
contained herein constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause the actual
results, performance or achievements of the Company to be
materially different from those expressed or implied.
Forward-looking statements involve risks and uncertainties,
including but not limited to, such risks as the availability of
funds and other risks described in the Company's periodic reports
on file with the Securities and Exchange Commission. DATASOURCE:
EMPS Research Corporation CONTACT: Dr. Terrence Chatwin,
+1-801-581-6348, for EMPS Research Corporation
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