MISSION VIEJO, Calif.,
April 2, 2012 /PRNewswire/
-- 5BARz International Inc. (OTCBB: BARZ), (Boerse-Berlin:
O5B), (www.5BARz.com) (hereafter "5BARz" or the "Company") and
Cellynx Group, Inc. (OTCBB: "CYNX")(hereafter "Cellynx") announce
that on March 28, 2012, 5BARz
International Inc. has acquired a 60% controlling interest in
Cellynx Group, Inc.
5BARz International Inc. completed the acquisition of Cellynx
Group, Inc. shares pursuant to a January 7,
2011 agreement with the founding shareholders of
Cellynx. In addition, the Company converted certain debts
provided to Cellynx Group, Inc. into share capital.
Over the past several years the Companies operated under a set
of agreements, comprised of an Asset Purchase Agreement, Revolving
Line of Credit Agreement and a Master Global Marketing and
Distribution Agreement. These agreements have been
amended (see 8K filed at www.sec.gov), to finalize asset
ownership, define operating parameters, and address the funding of
the Cellynx net liability position.
Mr. Daniel Bland, President and
CEO of 5BARz International Inc., states, "The Management and
Directors of both 5BARz International Inc. and Cellynx Group, Inc.
consider the actions that we have taken in consolidating the
operations of these two entities to be a substantive business
development that will streamline the business of the
Companies. In our opinion, this consolidation of ownership
and objectives will serve to accelerate the global deployment of
the 5BARz technology as we continue to implement our business plan
with the main goal of increasing shareholder value."
About 5BARz International Inc.
5BARz International Inc. along with its consolidated
subsidiaries are in the process of developing the global
commercialization of a patented product technology branded under
the name 5BARz™.
5BARz™ is a cellular network infrastructure device for use in
the small office, home and mobile market places. 5BARz™
incorporates a patented technology to create a highly engineered,
single-piece, plug 'n play unit that strengthens weak cellular
signals to deliver high quality signals for voice, data and video
reception on cell phones and other cellular equipped devices.
5BARz™ represents a key solution for cellular network operators in
providing clear, high quality signal for their subscribers with a
growing need for high quality connectivity.
5BARz International Inc.'s shares are publicly traded on the
OTCBB under the ticker symbol BARZ in the US and on the Berlin
Stock Exchange (www.boerse-berlin.com) under symbol "O5B.")
Cellynx Group, Inc. shares are publicly traded on the OTCBB
under the ticker symbol "CYNX".
On behalf of the Board of Directors
"Mr. Daniel Bland" CEO &
Director
5BARz International Inc.
"Mr. Norm Collins" CEO &
Director
Cellynx Group, Inc.
Legal Notice Regarding Forward-Looking Statements
The information contained in this release consists of
forward-looking statements within the meaning of Section 27A of the
Securities Act and Section 21E of the Exchange Act. These
statements may involve risks and uncertainties that could cause
actual results to differ materially from those described in such
statements. Such forward -- looking statements involve known and
unknown risks and uncertainties, including all business
uncertainties relating to product development, marketing, market
acceptance, future capital requirements, and competition in general
that may cause actual results to be materially different from those
described herein as anticipated, believed, estimated or expected.
The Company is under no obligation to (and expressly disclaims any
such obligation to) update or alter its forward -- looking
statements whether as a result of new information, future events or
otherwise.
Contact:
Parkside Communications Inc.
Phone: 1-877-798-4165
IR@5BARz.com
SOURCE 5BARz International Inc.