AquaLiv Technologies, Inc. Announces Purchase of 85 Million Shares by Corporate Officers
14:15 29.01.13
PR Newswire
SIOUX FALLS, S.D., Jan. 29, 2013
SIOUX FALLS, S.D., Jan. 29, 2013 /PRNewswire/ -- AquaLiv Technologies, Inc. (OTCQB: AQLV), a vertically integrated premium natural food producer and life sciences research and development company, announced today that two of its corporate officers have purchased over 85 million common shares with voting rights previously held by a former Officer by paying off the underlying note to Infrared Applications, Inc. The share purchase is part of the company's plans for reducing external debt obligations and consolidating the corporation's securities to further enhance long term shareholder value.
As part of the transaction, the corporate insiders made the final payment to Infrared Applications, Inc. in the amount of $103,500. The remaining 85,572,170 shares held in escrow are being released from the escrow agent and will remain as restricted shares. A Form 4 will be filed. During the time that the Officer held voting rights over the shares held in escrow, none of the shares had been sold into the open market and he remained a supportive stockholder.
"We are pleased to be able to bring these shares back into the hands of persons and entities with a long term view of the future for the company," said Duane Spader, CEO of AquaLiv Technologies, Inc. "Since our merger with AquaLiv Technologies, retiring external debt and positioning our balance sheet for the future is a commitment of the company."
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About AquaLiv Technologies (www.aqualivtech.com)
AquaLiv Technologies, Inc., through its subsidiaries, Verity Farms and Aistiva Corporation, is a vertically integrated premium natural foods producer utilizing advanced food production technologies.
About Verity Farms (www.veritycorp.com)
Verity Farms is dedicated to providing consumers with safe, high quality and nutritious food sources through sustainable crop and livestock production (see video). Verity has built the foundation for expansion that is diversified into three distinct, yet interlinked, divisions operating six business units. The three divisions: Soil Preservation, Water Systems and Consumer Products. Soil Preservation consists of Verity Farms and Verity Turf; Verity Water Systems comprises its own division; and, Verity Consumer Products will consist of Verity Meats, Verity Produce and Verity Grains. The common goal within each Verity Business Unit is to decrease chemical dependency, to diminish the need for genetic modification, to preserve the family farm, and ultimately, to provide a nutritious, high-quality food source to consumers. |
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