latest news releases from the newsroom
Ontus Telcommunications Corp.
Ontus Telecommunications Exchanges 75 Million Common Shares
PORTLAND, Ore., Nov. 16, 2004 (PRIMEZONE) -- Ontus Telecommunications Corp. (Pink Sheets:ONTC), an FCC licensed international, long distance communications carrier and business class VoIP wholesaler, today announced that further to the news release dated November 1, 2004 announcing that certain shareholders of the Company had exchanged 55,213,900 ONTC common shares for 5,000,000 Series A preferred shares of the Company, David Hoffman and Ken MacDonald have agreed to exchange an aggregate of 74,889,480 restricted and free trading ONTC common shares for an equitable combination of ONTC Series B and ONTC Series C preferred shares. The exchange has reduced the availability of ONTC free trading common stock by 81%.
Aztec Oil & Gas, Inc.
Aztec Oil & Gas Announces Financing for Four New Wells
HOUSTON, Nov. 16, 2004 (PRIMEZONE) -- Aztec Oil & Gas, Inc. (OTCBB:AZGS) announced today that the Big Foot 2004-1 Drilling Program LP has received funds from two investment groups affiliated with shareholders of Aztec to fund the drilling phase of four (4) new infield oil wells to be drilled on the Z2 LLC properties, in which Aztec holds a 31.283% interest. These four (4) wells will be the first wells funded in accord with Aztec's business model that calls for participation from outside investors to assume the cost of drilling wells in exchange for a part of the revenues derived from the wells they finance.
Harsco Corporation Declares 9.1 Percent Increase In Quarterly Cash Dividend
HARRISBURG, Pa., Nov. 16, 2004 (PRIMEZONE) -- Harsco Corporation (NYSE:HSC) announced today that its Board of Directors has authorized a 9.1 percent increase in the Company's dividend rate and declared a regular quarterly cash dividend of $0.30 cents per share, or $1.20 per share on an annualized basis. The increased dividend is payable February 15, 2005 to stockholders of record as of January 14, 2005.
Pinnacle Developments, Inc.
Pinnacle Developments Announces Letter of Intent for Cantech Fibre Acquisition
VANCOUVER, British Columbia, Nov. 16, 2004 (PRIMEZONE) -- Pinnacle Developments Inc. (Pink Sheets:PNCV) is pleased to announce the signing of a letter of intent to acquire Cantech Fibre Inc., a B.C. hardwood manufacturing company. Cantech Fibre currently has a significant contract to manufacture and deliver hardwood cants for sale to China and other foreign markets. The contract specifies volumes that will ramp up over the next 90 days from 50,000 to 800,000 board feet per month. The contract is expected to generate revenues of $6,650,000 per year in gross revenues and result in $2,515,000 in earnings per year.
Wavestream Corporation Awarded Technology Innovation Award by Aviation Week
SAN DIMAS, Calif., Nov. 16, 2004 (PRIMEZONE) -- Wavestream Corporation (www.wavestreamcorp.com), a provider of innovative power amplifier solutions for today's complex communications and sensing systems, today announced that its PowerStream(tm) Grid Amplifier has been awarded the Technology Innovation Award from leading aerospace publication Aviation Week & Space Technology. PowerStream is a solid-state power amplifier which uses ground-breaking spatial power combining technology to fit big power amplifiers into small waveguide packages.