Bio-Clean International, Inc. to Receive Additional 1,000,000 Shares for Selling Name of "Bio Clean"
29 October 2009 - 11:00PM
Marketwired
Bio-Clean International, Inc. (PINKSHEETS: BCLE)
(www.biocleaninternational.com) announced today the results of the
further negotiations with Bio Clean Inc., regarding the non-binding
letter of intent between the companies. In addition to the
company's potential sale of its subsidiary, American Bio-Tech
Cleaning, Inc., to BOCL, the company has also agreed to the
potential sale of the rights to the name "Bio-Clean." As a result,
the revised non-binding letter of intent now provides that
Bio-Clean International, Inc., will receive an additional 1,000,000
shares of BOCL common stock for a total of 15,000,000 shares upon
the closing. The current aggregate market price for 15,000,000
shares of BOCL is approximately $7,000,000. The shares will be held
in the company's name on behalf of its stockholders, as of the
closing date, potentially to be distributed as a dividend to such
stockholders, if, when, and as such a distribution is permitted
pursuant to all relevant corporate, securities, regulatory, and
fiduciary requirements.
About Bio-Clean International, Inc.
Bio-Clean International, Inc. recognizes the problems facing our
environment. Our exclusive, non-toxic, bio-remediation fluids
provide an environmentally-safe solution. Our exclusive products
and machines have been tested and shown to be in complete
compliance with environment regulations, in other words,
"Cleantech."
Our majority-owned subsidiary, American Bio-Tech Cleaning, Inc.
(ABT), designs and manufactures customized parts and weapons
washing/cleaning systems that are eco-friendly, using a water-based
cleaning fluid integrated with a self-contained bio-remediation
process. We also own a minority interest in American Bio-Clean
Corporation (ABC) which markets and distributes our cleaning fluids
and parts/weapons cleaning machines. ABC is a Service-Disabled
Veteran-Owned Business (SDVOB) that is certified and meets the
Federal-mandated 3% minority spending requirements. Similar
mandated spending requirements adopted by most states vary from 3%
to 20%. Additionally, many private sector companies have targeted
goals for suppliers.
We also maintain a minority interest in Veterans Training
Corporation (VTC) which is also a SDVOB business based in Southern
California and provides a wide range of training programs for a
variety of clients including the U.S. Department of Defense. In
addition, VTC provides training programs for the private sector
such as its OSHA safety-training programs for the construction
industry.
View this release in video format:
http://www.vodnewswire.com/vodnewswire/news/bioclean-20091029/
For more information about Bio-Clean International, Inc. please
visit our website, http://www.biocleaninternational.com.
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Contact Person: Tammy D. Dunn COO Tel: (714) 373-1990 Fax: (714)
373-1991 E-mail: ir@biocleaninternational.com
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