HILVERSUM, Netherlands,
March 5, 2013 /PRNewswire/ -- READEN HOLDING CORP.
(OTCPINK:RHCO) announced the signing of a Letter of Intent for
a revolutionary $200 Million Dollar
Acquisition.
This acquisition enables the Company to participate in a
multi-billion dollar growing industry.
While Readen Holding is in the process of becoming a major
participant in the telecom industry, the Company has signed a
preliminary acquisition contract for the purchase of 100% of the
shares of GRS CAPITAL GROUP, an investment organization currently
structured as an Investment Company of transition metals and
copper isotopes.
Readen Holding Corp. (RHCO.pk) is a telecom product wholesale
and distribution organization which started wholesaling different
precious metals last year to be used by Computer hardware as well
as telecom Manufacturers and the medical industry. The
Company completed its first transactions in this business last year
and realized the high demand, even by its own finished product
suppliers. It was decided to expand this trade by
acquiring and merging GRS Capital Group with the Company, which
will increase revenue tremendously and provide us with valuable
know-how of the transition metals Industry.
To date, GRS Capital Group has been taking stock positions of
large quantities of tantalum and copper isotope. RHCO will change
the business scope of the organization to focus on becoming a main
supplier to electronics manufacturers and the medical industry.
Until recently, RHCO has limited its involvement in this
industry to supplying research and development companies and
manufacturers in China.
With this merger the Company has created a specialized division
to act as the trading partner for all major manufacturers and
research organizations throughout the world.
This transaction will add a net asset value to RHCO's balance
sheet of $200 Million Dollars,
based on the inventory acquired, calculated with a discount
to market value calculated by utilizing the current pricing of the
Oak Ridge national Laboratory in
Tennessee, USA price (a leading
supplier in the industry of Isotopes). The total inventory position
acquired exceeds One Billion Dollars
in material based on testing performed and validated under IGAS
quality standards.
The acquisition is being done as a result of a $100 Million Dollar loan from Readen's
management, the issuance of a $95 Million
Dollar convertible note to three third parties and the
issuance of 100 million RHCO shares under rule 144 to GRS Capital
Group's shareholders and creditors.
Ronald Steenbergen, Readen
Holding Corp's Chairman, states,
"We have been working for the past 10 months to realize this
acquisition and to structure the financial commitment. We are
delighted to add this professional, profitable and fast growing
division to our Group. Our goal is to expand this new
division with additional products utilized in the same industry:
Tantalum, due to the rapidly growing pc and telecom industry, and
the Isotope, due to ongoing research in the medical industry. With
the stable growth and consistent demand of both product lines, our
new division will focus on improving the product quality of
tantalum and copper isotope, acquiring additional advanced
materials and increasing our revenue and profits.
It is anticipated that this acquisition will tremendously boost
our shareholder value and increase the level of our organizations
performance and value."
For more information please check the Group's websites:
www.readenholdingcorp.com
www.d5mobile.nl
www.d5avenue.com
Readen Group's mission statement is to be a valuable partner for
customers in terms of technical flexibility, quality and
competitive pricing through the complete value chain (SIM cards,
mobile phones and applications).
This press release may contain forward-looking statements,
including, but not limited to, statements regarding Readen Holding
Corporation and its plans, products and related market potential.
Forward-looking statements may be identified by the use of the
words "anticipates," "expects," "intends," "plans," "should,"
"could," "would," "may," "will," "believes," "estimates,"
"potential" or "continue" and variations or similar expressions.
These statements are based upon the current expectations and
beliefs of management and are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements. These risks
and uncertainties include, but are not limited to, risks and
uncertainties discussed in Readen Holding Corporation's postings on
the OTC Markets Disclosure &; News Service and future filings
with the Securities and Exchange Commission, which factors are
incorporated herein by reference. Readers are cautioned not to
place undue reliance on any of these forward-looking statements.
Readen Holding Corporation undertakes no obligation to update any
of these forward-looking statements to reflect events or
circumstances after the date of this press release or to reflect
actual outcomes.
Contacts:
Readen Holding Corp.
Ronald Steenbergen
+31 3562 99970
info@readenholdingcorp.com
SOURCE Readen Holding Corp.