Patriot Energy Receives New Stock Purchase at $0.57 Per Share and Will Disclose Acquirer
May 14 2009 - 2:41PM
Marketwired
Patriot Energy Corporation (PINKSHEETS: PGYC) announced today that
it has received a revised and final all cash stock purchase offer
at $0.57 per share, however the royalty shares have been eliminated
to allow for a larger upfront purchase price.
According to the company, shareholders will vote on the purchase
offer on June 9, 2009 at 9:00am further to the notice of a special
meeting of shareholders. The company is currently finalizing all
proxy and information circular and said documents will be available
for shareholders on the company's website and by mail by no later
than May 15, 2009.
It should be noted that a mutual press release will be issued on
May 15, 2009, whereby the company has received permission to
release the name and coordinates of the acquirer, which will be in
accordance with the release of the information circular
About Patriot Energy Corporation
Patriot Energy Corp. is a management holding corporation, which
owns a wholly owned subsidiary named TelTeck Solutions and owns a
99 year exclusive leased license agreement with Tectane
Technologies Corporation for the Dual H2O Engine Oxygenator and New
Tri-Brid Engine (Electric/Flex-Fuels/H2O) Technologies. Patriot
Energy specializes in the development and marketing of energy
efficient technologies with a focus on reducing America's
dependence on Foreign Oil.
All statements in this news release that are other than
statements of historical facts are forward-looking statements,
which contain our current expectations about our future results.
Forward-looking statements involve numerous risks and
uncertainties. We have attempted to identify any forward-looking
statements by using words such as "anticipates," "believes,"
"could," "expects," "intends," "may," "should" and other similar
expressions. Although we believe that the expectations reflected in
all of our forward-looking statements are reasonable, we can give
no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause
those results to differ materially from those indicated in any
forward-looking statements made by us or on our behalf. Such
factors include our limited operating history; our need for
significant capital to finance internal growth as well as strategic
acquisitions; our ability to attract and retain key employees and
strategic partners; our ability to achieve and maintain
profitability; fluctuations in the trading price and volume of our
stock; competition from other providers of similar products and
services; and other unanticipated future events and conditions.
Contacts: Momentum IR Max Gagne 514-913-0351 877-253-7001
Patriot Energy Corporati... (CE) (USOTC:PGYC)
Historical Stock Chart
From Apr 2024 to May 2024
Patriot Energy Corporati... (CE) (USOTC:PGYC)
Historical Stock Chart
From May 2023 to May 2024