LAS VEGAS, June 4, 2010 (GLOBE NEWSWIRE) -- Oteegee Innovations Inc. (OTCBB:OTGI) is announcing that the Company has completed its due diligence of Grail Semiconductor in accordance with its non-binding Letter of Intent to acquire all of the assets of Grail Semiconductor as well as the exclusive rights to a number of other independent innovative technologies. Based upon its review of the due diligence, the Company is satisfied the acquisition brings significant value to the Company and its shareholders, and will continue to proceed with the transaction. The Company is in the final stages of executing definitive agreements and will update shareholders in the coming weeks.
In addition, the Company is pleased to announce the launch of its new web site, www.oteegee.com. The new web site is a critical step in communicating the vision and strategic objectives of Oteegee Innovations and offers each visitor insight into the Company's technological developments.