Duratech Group Inc. Becomes Fully Reporting Publicly Traded Company
Market Wire, September, 2008
Duratech Group Inc (OTCBB: UPSN), an Alberta-based manufacturer of residential homes, today announced it has completed its reverse merger with UpSnap Inc, a Nevada corporation presently trading on the Over-the-Counter Bulletin Board (OTCBB) under the ticker symbol "UPSN."
The company has now completed all necessary filings with the United States Securities and Exchange Commission (SEC). Pursuant to the merger, the company will be filing with the NASDAQ to receive a new stock symbol, which the company expects to announce in the next 60 days.
As required by the United States Securities Exchange Act of 1934, as amended, Duratech Group shall be issuing public quarterly reports, annual reports, corporate development reports, audited financial statements and will otherwise comply with all reporting and disclosure requirements of OTCBB issuers.
President and CEO, Tony Philipp has resigned from the company and been replaced by Peter Van Hierden, president and CEO of Duratech Group.
"The successful completion of this transaction coupled with Duratech's listing on the OTC Bulletin Board are both major milestones for us," said Peter Van Hierden, president and CEO of Duratech Group. "As a fully reporting company, we hope to attract both individual and institutional investors to the company, and to create a thriving market for our stock. We look forward to updating the investment community as we reach key milestones and implement our growth strategy with a goal to consistently enhance shareholder value."
Additional information may be found on the company's recent filing on Form 8k.
About Duratech Group Inc.
Duratech Group Inc. is an Alberta-based traditional home construction builder and manufacturer of built off-site residential homes. Duratech operates through two business units Duratech Contracting and Duratech Structures.
All trademarks are property of their respective owners. ©2008 Duratech Group Inc. All Rights Reserved.
Forward Looking Statements: With the exception of historical information, the matters discussed in this press release are "forward looking" statements that involve a number of risks and uncertainties. The actual future results of the Company could differ from those statements. Factors that could cause or contribute to such differences include, but are not limited to, the continued demand for the Company's products and services, worldwide economic conditions, changes in governmental regulations and policies, the emergence of competitive products and services, unforeseen technical issues and those risk factors contained in the Company's filings with the SEC.
Contacts: Duratech Group Inc. Janeen Norman (403) 567-0333 Email: jnorman@duratechgrp.com
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