Monday, May 24, 2010

Eurocontrol updated information on transaction with Athlone Global Security Inc.

Eurocontrol Technics Inc., a Canadian public company specializing in the acquisition, development and commercialization of energy security, authentication and verification technologies, announced that the shareholders of Eurocontrol have approved the proposed acquisition of all of the issued and outstanding shares of the BVI company Athlone Global Security Inc., in exchange for common shares and warrants of Eurocontrol. The company announced that its shareholders, holding approximately 21 per cent of the issued and outstanding shares of Eurocontrol, voted for the transaction with more than 99 per cent of the votes cast.

The combined company will take the name Athlone Global Solutions Inc., and its common shares will trade on the TSX Venture Exchange under the symbol “AGH”.

Additionally, Eurocontrol announced that it has completed the first tranche of its previously announced non-brokered private placement financing of special warrants at a price of US$0.30 per Special Warrant, for gross proceeds of US$880,000.