thats 2 deent asx anouncements in a row
congrats
regards gaga
newbies do your own research
IMT has renegotiated its relationship with its US Phoslock licencee, Purezza Marketing
Inc.
IMT first licenced Purezza in 2001, receiving a substantial licence fee and shares in
Purezza. Those arrangements were modified in July 2004 to recognise the subsequent
development of Phoslock granules and pellets and the establishment of IMT’s
manufacturing capability in China.
The directors of Purezza decided that more direct assistance from IMT was necessary to
successfully establish the Phoslock business in the US.
It has therefore been agreed as follows:
•IMT will take board and management control of Purezza.
•IMT will move to 51% equity in Purezza by subscribing for additional shares.
•Purezza will apply for listing of its shares on the OTC Board with the intention of
transferring to NASDAQ as soon as the relevant criteria are met. This will not be for
the purpose of raising funds but to provide liquidity for the minority shareholders.
Taking control of Purezza will allow IMT to immediately drive the business by:
•Completing the project to be funded by the US Department of Agriculture.
•Undertaking the treatment of the waste ponds at a large dairy farm and a piggery in
order to reduce the phosphorus loads in the discharge to the environment.
•Treating the holding ponds at two catfish farms to prevent the growth of blue-green
algae during the catfish growing cycle. The existence of blue-green algae affects
mortality and growth rates.
•Securing a contract with a US based wastewater treatment company to incorporate
Phoslock into a number of its products. The products include open lagoon liners and
processes for removing phosphorus from waste streams.
•Marketing to industries such as sugar, abattoirs, chicken, citrus and tobacco to
reduce their phosphorus discharge.
This transaction returns control to IMT of one of the potentially largest and most valuable
markets. IMT has been undertaking considerable marketing activity in the US in the last
few months and sales early in 2005 are expected.
IMH
imt holdings limited
