Capital Resource Alliance Announces Letter of Intent to Acquire Revolutionary New Building System
August 10 2009 - 4:16PM
PR Newswire (US)
CALGARY, Alberta, Aug. 10 /PRNewswire-FirstCall/ -- Mr. Frederick
Fitzgerald, President and Chief Operating Officer of Capital
Resource Alliance Inc. (OTC:CRRA) (BULLETIN BOARD: CRRA) announced
today the acquisition of the principal assets of Engineered
Construction Solutions Inc., of Calgary. Terms of the purchase are
Forty Million shares of Capital Resource Alliance Inc. common stock
at closing plus an undertaking to use every effort to supply up to
$500,000 working capital on or before the closing date of October
31, 2009. The purchased assets consist of all the proprietary
technology and intellectual property involved with the manufacture
and marketing of "WonderWall" a revolutionary building system that
involves on site creation of long lasting, low cost housing,
schools, commercial buildings and storage facilities. The
foundation of the building components is a propriety ceramic foam
manufactured on site, quickly and economically. The resultant
building product is fire and water proof, virtually indestructible
under normal conditions and extremely cost affective. Several
foreign governments and commercial enterprises have indicated
active interest in this new building technology. (See the
WonderWall website: http://www.wonderwallinc.com/.) Mr. Ray Gordon,
President and CEO of Engineered Construction Solutions Inc. has
agreed to join the Board of Capital Resource Alliance Inc. and
assume the office of President and CEO of the purchasing
corporation. Frederick Fitzgerald will remain as a director and
retain his office of Secretary/Treasurer. This news release
contains forward looking statements within the meaning of the
Securities Litigation Reform Act. The statements reflect the
Company's current views with respect to future events that involve
risks and uncertainties. Among others, these risks include the
failure to meet schedule or performance requirements of the
Company's contracts, the Company's liquidity position, the
Company's ability to obtain new contracts, the emergence of
competitors with greater financial resources, and the impact of
competitive pricing. In the light of these uncertainties the
forward-looking events referred to in this release might not occur.
DATASOURCE: Capital Resource Alliance Inc. CONTACT: Lance Larsen,
Capital Resource Alliance Inc., +1-403-461-7283 Web Site:
http://www.wonderwallinc.com/
Copyright