Market Alert: PXCE Up 241% in the Past 30 Days
Submitted by SmallCapVoice.com
Small Cap Market Update from SmallCapVoice.com
New Mobile Technology Breakthrough Company is about to Hit Market
An LOI was released under the ticker “PXCE,” announcing a merger with a yet unnamed global mobile tech company to be finalized in the next few weeks. Details are forth-coming, yet activity is increasing as the share price of the Company continues to rise even as the overall market remains weak..
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Hot Stocks To Watch
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Company: Pax Clean Energy, Inc. (OTCBB: PXCE)
Last Trade:
Price: 7.25
Change (%): + 0.00 (0.00)
Volume: 608
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Recent News
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Pax Plans Merger With Tech Company Targeting Exploding Mobile Social Media Market
WILMINGTON, DE–(MARKET WIRE)–Feb 11, 2009 — Pax Clean Energy, Inc. (OTC BB:PXCE) (”Pax” or the “Company”) announces today that it has approved a Letter of Intent (”LOI”) towards a merger with a technology company targeting applications in the exploding mobile social multi-media market. The company has shown that it has developed new market breakthrough technologies in mobile video sharing that can be leveraged to revolutionize how mobile video is used across wireless carriers and devices. This privately owned, stealth-mode, American company has developed a platform technology that can be used to provide multiple solutions and applications to mobile users and wireless carriers world-wide. According to market research house Infonetics, revenue from mobile video services worldwide hit US$5.6 billion in 2008, growing dramatically from US$46.2 million in 2005. The merged Company will target this expanding opportunity with its breakthrough technologies.
The transaction is subject to all customary closing conditions. One of the conditions of the merger includes the cancellation of all shares owned by the current management and any of their corporations, leaving just 17.64 million common shares outstanding. As consideration for the merger, the private company will receive 16 million preferred shares that will be restricted from sale or trade for a period of not less than three years, unless certain strategic transactions or events occur prior to that time. These terms will not be negotiated and will be included in the final agreement.
Due to confidentiality and non-disclosure agreements, details of this acquisition will only be announced upon completion of the final contracts.
For more information please contact our investor relations department toll free at: (866) 949-5749 M-F 10AM-10PM EST.
For more information please contact our investor relations department toll free at: (866) 949-5749
M-F 10AM-10PM EST.
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Disclaimer
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