Quantex Capital (CE) (USOTC:QCPC)
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Quantex Capital Corporation (PINK SHEETS:QCPC) President
and CEO L. Evan Baergen announced today that management has signed a
Memorandum of Understanding ("MOU") to purchase 51% of the issued
shares of Samlex Europe, B.V. The MOU is non-binding and is subject to
due diligence and financing. "We are thrilled to announce this major
development," said Baergen. "We have seen very positive results from
our purchase of Samlex America last year and the stellar year that
they have had, so when the opportunity to purchase a stake in Samlex
Europe was presented to us there was no hesitation."
Samlex Europe has been a distributor of power conversion units and
related products since 1990. There is no common ownership with Samlex
America. Both companies derived their name from one of their product
suppliers, Samlex Electric, based in Hong Kong. Samlex Europe was
formed by Jacob van Veen, who still continues to play an important
role in the day-to-day operations of the business. The company is now
run and owned by Mr. van Veen's son, Marcel.
"One of the important factors that encouraged us to sign the MOU
was the current ownership and management of Samlex Europe. The van
Veens are not only knowledgeable and professional, but their eagerness
to work together with Samlex America to capitalize on some very
synergistic opportunities was what really made this deal work. With
Samlex Europe's good history of profitable, strong management and
bright future, it was an easy deal to get done."
Quantex and Samlex Europe will work together over the next few
months to sign a binding legal agreement.
This news release may contain forward-looking statements that are
based on management's current expectations, which are subject to known
and unknown uncertainties and risks. This could cause actual results
to differ materially from those contemplated or implied by such
forward-looking statements. Maxxcapp is under no obligation to update
any forward-looking statements contained herein should material facts
change due to new information, future events or otherwise.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Quantex Capital Corporation (PINK SHEETS:QCPC)