HyPower Fuel Announces Valuation in Excess of $100 Million
May 17 2011 - 9:35AM
Marketwired
HyPower Fuel Inc. (PINK SHEETS: HYPF) -
HyPower hereby reports that it has signed a Memorandum of
Understanding to purchase a control block position in its second
Target Company (TC2). A spokesperson for HyPower was enthusiastic
in commenting that "TC2 has received a preliminary Business
Valuation in excess of $100 Million which is based on projected
earnings for only the first product for TC2's technology. The
business valuation was done be an independent Chartered Financial
Analyst who has spent years performing valuations for some major
investment banks."
Mr. Douglas Bender, CEO of HyPower, commented that "HyPower has
successfully negotiated the MOU at a significant discount to the
current valuation. For the time being we are not divulging any
information that could jeopardize TC2's product protection
including the names of the inventors. Steps are already being taken
to align TC2 with major distributors in the industry and to present
the initial product at a leading product exposition later this
year. All indications are that the initial product will generate
large sales order immediately."
About HyPower Fuel Inc.
HyPower is a category leading company in various technology
sectors, providing innovative, environmental technologies through
unique methods.
Safe Harbor - This press release shall not constitute an offer
to sell or a solicitation of an offer to buy securities of HyPower
Fuel Inc. Certain statements in this release and other written or
oral statements made by or on behalf of the Company are "forward
looking statements" within the meaning of the federal securities
laws. Statements regarding future events and developments and our
future performance, as well as management's expectations, beliefs,
plans, estimates or projections relating to the future are
forward-looking statements within the meaning of these laws. The
actual results achieved may differ materially from any
forward-looking statements due to these risks and uncertainties.
These statements are based on our current expectations and speak
only as of the date of such statements.
Contacts: HyPower Fuel Inc. hypower@hypowerfuel.com
www.hypowerfuel.com Newstrack Communications (587) 987-8585
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