Business
ENCOUNTER ANNOUNCES THE ACQUISITION OF ANGLERS CONSTRUCTION, INC.
ENCOUNTER ANNOUNCES THE ACQUISITION OF ANGLERS CONSTRUCTION, INC..
About this update from Encounter Technologies Inc
[{"type":"text","content":"BERGEN,\nNEW YORK, January 21, 2014. The Board of\nDirectors of Encounter Development Technologies Inc., a Colorado corporation\n(US.ENTI.PK) (\"Encounter\" or the \"Company\"), is pleased to\nannounce the acquisition of Anglers Construction, Inc., a New York corporation\n(\"Anglers\").About Anglers.Anglers is a fully licensed and insured\nconstruction company that specializes in the professional repair and\nreplacement of commercial and residential rooftops and in the installation of building\nsidings. Anglers conducts its principal\noperations in New York in the Counties of Monroe, Wyoming, Wayne, Genesee, and\nErie. Anglers is a member-in-good-standing\nof the Western New York Better Contractors Bureau.About\nthe Acquisition.Anglers' founder and principal shareholder\nwas a private client of Randolph S. Hudson, one of Encounter's indirect control\nshareholders and its Chairman, President, and Chief Executive Officer, and of\nMichael P. Grande, one of Encounter's indirect control shareholders and\nEncounter's Vice-Chairman. Encounter\nacquired Anglers for 250,000,000 shares of Encounter's (pre-reversal) common\nstock, plus additional deferred consideration. \nMichael A. Rehberg, Anglers' President and Chief Executive Officer said,\n\"The deal just makes good sense. \nMike [Grande] has extensive experience in construction; particularly, in\nthe roofing business, and Anglers will be a good fit for what Mike and Randy [Hudson]\nare doing with Encounter, Real American [Real American Capital Corporation (US.RLAB.PK)\n(\"Real American\")], and their other companies\".Integration\nwith Encounter and its Affiliates.Anglers will remain a non-public corporation,\nthe shares of which will be totally held by Encounter. It is contemplated that Anglers will perform\nwork and services for Encounter, on its commercial and residential income properties,\nand for other affiliates in The Hudson and Grande Organization; most notably,\nfor the facilities owned and operated by Real American and for First Intercity\nBancsystems, Inc.Mr. Grande said, \"I don't anticipate\nmuch volume, from a practical business sense, until at least spring; however,\nonce the weather improves in Western New York, I know that I will have\nestablished a marketing plan for Anglers that should drive business to the company\nduring t...