Ramoil Management, Ltd. (OTC:RAMO) Announces MOU to Purchase the CWT3 Program and Related Business
CLEARWATER, Fla., Dec. 15, 2011 /PRNewswire/ — RAMOIL MANAGEMENT, Ltd. (OTC:RAMO) and TERLYN INDUSTRIES, INC. (TLI) announce the signing of a memorandum of understanding, outlining the purchase and sale of the CWT3 Program and related business to Ramoil Management, Ltd.
Customers already use the CWT3 Program throughout the United States and thus with this purchase Ramoil will also be purchasing revenues starting immediately with the closing of this purchase contract.
Michael J. Goeree, Ramoil Mangement’s Chairman and CEO said, “My apologies for the long delay but I had personal health issues to deal with. However, it is my absolute privilege to announce today our MOU to purchase the CWT3 Program from TERLYN Industries, Inc. With this purchase, RAMO will immediately realize revenues with and through existing customers of CWT3. I appreciate all of the shareholders’ patience in and through tough times but now see a great future in RAMO. True to my promise, there will be no additional stock issuances involved in this purchase. This purchase of the CWT3 technology will be for 200 million restricted shares. Concurrently, I will surrender for cancellation an equivalent number of my shares. The transaction will also involve the assumption of approximately $1,135,000 existing debt related to the CWT3 Program.”
Mr. Goeree continued, “Upon completion of this purchase, Ramoil Management, Ltd. will be changing its corporate name to TERLYN Technologies, Inc., moving its domicile to Florida from Wyoming and moving its address, from its present location in Long Beach, California, to the 15,000 square foot office and warehouse facility presently occupied by TERLYN at 3631 131st Avenue North, Clearwater, FL 33762. Further to the coming changes, Alex Taranu will resign from RAMO, I will be stepping back to Director and Exec. Vice President and COO, Lynn A. Rushmore of TERLYN will become the new Chairman, President and CEO and Terence “Terence” M. Rushmore will become the new Exec. Vice President and Chief Technical Officer (CTO).
Lynn Rushmore, the incoming Chairman and CEO said, “I am excited to be taking the CWT3 product in this new direction. I believe in complete transparency and thus have already begun assembling the new accounting and audit team, preparing a new 15c-211 filing and preparing to resume filing reports with the SEC. Michael and Terence will be charged with growing the revenue side of our business.”
The new website for this venture will be www.terlyntech.com.
About the CWT3 Program:
The TERLYN Cooling Tower Water Conservation Program reduces standard water treatment’s wastewater bleed-off requirements by approximately 90%!
This is possible because our proprietary cooling tower water treatment scale inhibitor, CWT3, has a molecular bonding strength that is exponentially higher than any other treatment in the industry allowing us to hold a much higher amount of solids in solution without scale formation.
As a result, our program is able to prevent scale while allowing the level of minerals in a cooling tower to concentrate well beyond the limitations of traditional water treatment. This capability allows us to reduce standard cooling tower bleed by 90% without scale formation.
In most cases, the amount of water saved by utilizing our program is so great, that it exceeds the monthly treatment cost. As a result, companies with cooling towers are actually profiting by upgrading to our system, while simultaneously saving millions of gallons of water for our environment.
About TERLYN Industries, Inc.
TERLYN Industries, Inc. (“TLI”), of Clearwater, FL, (www.terlyn.com) was founded in Michigan in 1996 and moved the corporate and manufacturing facilities to Clearwater, Florida in 2001. In this time, TERLYN has developed nine different and distinct water treatment products and also designs and manufactures a series of peristaltic feed pumps, all of which are sold on a national scale.
About Ramoil Management, Ltd.
Ramoil Management, Ltd. (RAMO), is a development stage capital company, focusing on green projects, asset management and other niche technologies temporarily headquartered in Long Beach, California. Ramoil’s present strategy is to identify buy-out and/or merger opportunities in the “environmental sector” and “niche technologies sector” which will immediately impact and grow our asset and revenue base. Through our world-wide network of brokers and scientists we already have one and possibly more such projects identified and are working through the due diligence process on each of these projects.
Forward Looking Statements
This news release contains forward-looking statements made by RAMOIL MANAGEMENT, LTD. All such statements included in this press release, other than statements of historical fact, are forward-looking statements. Although Management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements. The following risk factors, among others, could cause actual results to differ materially from those described in any forward-looking statements. These risks and uncertainties include, but are not limited to, economic conditions, changes in the law or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward looking statements. Forward-looking statements are typically identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events.
Company and Investor Relations Contact:
Mr. David Reiter at 323-952-3754
SOURCE Ramoil Management, Ltd.