Business
Whitemud Resources Announces Signing of U.S. Supply & Distribution Agreement with a Leading Supplier of Performance Additives to the Concrete Industry and Provides Debenture Update
Whitemud Resources Announces Signing of U.S. Supply & Distribution Agreement with a Leading S...
About this update from Whitemud Resources, Inc. Class A
[{"type":"text","content":"\n\n\n\n Jul. 29, 2010 (Canada NewsWire Group) -- \n \n \n /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\nCALGARY, July 28 /CNW/ - Whitemud Resources Inc. ("Whitemud" or the "Company") (WMK - TSXV) is pleased to announce that it has entered into a U.S. Supply and Distribution Agreement with a leading supplier of performance additives to the concrete industry.\nThe agreement provides the supplier with exclusive distribution rights to market Whitemud(MK) to the ready mix concrete, precast concrete, concrete block, concrete brick, concrete pipe, and mining industries for the United States. The supplier will purchase Whitemud(MK) directly from Whitemud for the purpose of distribution and resale. More information is available at www.whitemudresources.com.\nThe supplier will, together with Whitemud, immediately focus on key construction opportunities in the U.S. where metakaolin provides unique value added solutions that enhance concrete performance and reduce the environmental impact. Applications that will be targeted include the construction of large infrastructure and transportation projects, waste water and water treatment plants, parking structures, tunnels and underground mines.\n"We are very pleased to partner with a key industry player to significantly expand our market reach throughout the U.S. This agreement provides access to a nationwide network of experienced sales professionals, product and customer support, distribution infrastructure, and increased product credibility, all of which are expected to enable significant sales growth. Our new marketing partner recognizes that Whitemud(MK) offers unprecedented value for enhancing the performance of many concrete blends", says Burl Aycock, CEO of Whitemud Resources.\nWhitemud announces that the Company will not make the July 31, 2010 interest payment, or the deferred January 31, 2010 interest payment on its outstanding Debentures. Management is currently developing a proposal for the debenture holders. Any plan or proposal that the Company develops is subject to all necessary approvals, including stakeholder and regulatory approvals. The Company will keep debenture holders and shareholders informed on developments with respect to its plans.\nManagement believes this Distribution Agreement i...