Dissolution of Acquisition between QMI Technologies and QMI Seismic

VANCOUVER, April 11 /CNW/ - On March 31st, 2011, QMI Technologies Inc. and QMI Seismic Inc. (CNSX: QSS) agreed to end a proposed affiliation that began in July 2010.  It had been proposed that QMI Technologies Inc. would, by an exchange of shares, become affiliated with QMI Seismic Inc., a public Company, for the distribution of QMI Technology's seismic products.  Due to difficulties in getting adequate funding from QMI Seismic in a timely manner and a majority share interest in QMI Seismic as originally agreed, that affiliation failed to progress and the two Companies have now agreed to remain separate.

QMI Technologies has agreed to refund the funds advanced by QMI Seismic, and to allow QMI Seismic the option to acquire distribution rights in Japan, Indonesia, India, Chile and Bolivia. At this time there are no agreement in place between QMI Technologies Inc. and QMI Seismic Inc. for the marketing of or distribution of QMI Technologies Inc. products.  QMI Technologies Inc. is the sole proprietor of all water, gas and seismic products including ownership of patents, designs and trademarks, and does not currently have partnership agreements in place with any other corporations.

QMI Seismic has agreed to change its name, so that there is no association with the QMI name whatsoever.

QMI Technologies will continue to market its patented residential, commercial and industrial gas, water and Seismic products and can be found at www.qmimfg.com.

Raymond Wood, President & CEO QMI Technologies Inc

SOURCE QMI Technologies Inc.

For further information:

202-11 Burbidge Street. 
Coquitlam, B.C.  
V3K 7B2   
Canada
      Phone: (604) 944-8650
Fax: (604) 944-8660
Email: info@qmimfg.com

Profil de l'entreprise

QMI Technologies Inc.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.