ORCUTT, Calif., July 1, 2009 (GLOBE NEWSWIRE) -- Insight Management Corporation (OTCBB:ISIM) today announced that the merger with Microresearch (MCEA) was completed on June 29, 2009, subject to the appropriate filing with the SEC. It was previously announced on April 24, 2009, that a definitive merger agreement was signed under which MCEA would become a subsidiary of ISIM. Pursuant to the agreement, MCEA shareholders receive 1.5 ISIM shares for each share they own in MCEA. Prior ISIM shareholders will not change their holdings in ISIM.
Microresearch President and CEO Jennifer Rapacki, who will be leading the company, noted, "Despite a challenging capital markets environment, we are pleased to take this important next step in our company's development and growth. The transaction validates the company's strategy to continually improve market awareness of its efforts and move the company on to a more senior exchange."
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About Insight Management Corporation
Insight Management Corporation (ISIM) is a public holding company whose core business is focused in the oil and gas industry. The company has a strategic plan for growth through acquisition and functions from the perspective of an engineering firm. This is the nucleolus that directs what acquisitions are made and creates strategic alliances, develops proprietary technology and patents that bring the expertise and ultimately creates the real value for Insight Management. The Company expects to retain the strong management teams in each business unit, capitalizing on their local knowledge of competitors and operating climate, along with their loyal customer relationships.
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This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. ISIM has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the ISIM's current beliefs and are based upon information currently available to it.
Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the ISIM's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. ISIM undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.