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Zhuding International Limited and Automated Water Solutions Sign Letter of Intent
Zhuding International Limited and Automated Water Solutions Sign Letter of Intent.
About this update from Zhuding International Limited
[{"type":"text","content":"Zhuding International Limited (OTC: ZHUD), a Nevada corporation, and Automated Water Solutions (AWS), a Texas corporation, are pleased to announce the signing of a Letter of Intent (LOI) for the acquisition of AWS by ZHUD that will result in AWS having control over ZHUD.Controlled Investments, a capital investment firm that has raised $310 million in committed capital this year and has acted as an advisor or co-advisor to over $1.3 billion in consummated transactions over the past decade and an investor in AWS, played a crucial role in bringing the two parties together. It has represented and warranted that AWS has received several offers regarding external investment opportunities from private equity funds.Upon completion of the transaction, AWS is set to deliver water recycling solutions in the oil and gas industry, ensuring customers receive unparalleled service and technological capabilities. The company will offer a range of fully automated, turnkey options for recycling produced water, including full solids removal polymer processes and simpler disinfectant and filtration methods. With the ability to handle throughput volumes of over 80,000 barrels per day, AWS's systems are designed to meet the demands of large-scale operations efficiently and effectively. As a result of AWS's capabilities, both parties anticipate a bright future for present and future shareholders. As part of the transaction, AWS will pay Belisarian Holdings, LLC. $325,000 over a six-month period and issue to the same a two percent equity stake, which is subject to a two-year holding period, in settlement of debts owed to Belisarian and in consideration of the sale of preferred stock held by Belisarian. The LOI dictates that the parties must finalize the definitive agreements no later than October 31, 2024.Safe Harbor StatementThis release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words \"may,\" \"should,\" \"plans,\" \"expects,\" \"anticipates,\" \"continue,\" \"estimates,\" \"projects,\" \"intends,\" and similar expressions. Forward looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not lim...