MONTREAL, QC, April 12 /CNW Telbec/ - Mindready Solutions Inc. (TSX: MNY)
announces that it was informed yesterday, after the market close, that its
offer submitted to the interim receiver of UTTC United Tri-Tech Corporation
("UTTC") to purchase the assets of UTTC was not accepted and that the assets
of UTTC were sold to a third party.
Concurrently with its negotiations with the interim receiver of UTTC,
Mindready has obtained from the court an order to safeguard until
June 3, 2006, which prevents the former shareholders of UTTC from trading the
shares they hold in the capital of Mindready. Such order was rendered in the
course of the legal procedures filed by Mindready to cancel the acquisition of
UTTC completed on November 30, 2005.
Given these new developments, Mindready continues to examine all means at
its disposal to ensure its rights are respected and that it receives
compensation from all parties involved.
Mindready Solutions Inc. (TSX: MNY) is a leading supplier of innovative
end-to-end solutions for new electronic product introduction, from design to
manufacturing and test systems, serving the aerospace & defense, wireless
telecommunication and automotive & transportation markets. Mindready serves
clients such as Lockheed Martin, Raytheon, Northrop Grumman, Boeing, Visteon,
Rockwell Collins, NASA, Ford, Nissan, Motorola, Panasonic, Renault, Harris,
Flextronics, Nortel and Alcatel. More information about Mindready and its
products, systems and engineering services can be found at www.mindready.com.
The statements regarding the company's future operating results,
performance and business prospects contained in this press release, and any
other statements not constituting historical information, are forward-looking
statements. These forward-looking statements reflect the company's current
opinions and assumptions with respect to future business decisions and
results, and are based on the information currently available to the company.
Accordingly, these statements are subject to risks, uncertainties and
contingencies that could cause the company's future operating results,
performance or business prospects to differ from those expressed in, or
implied by, these statements.
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