Foy-Johnston Closes Its Liquid Gold International Inc. Acquisition
12 März 2010 - 6:47PM
Marketwired
Foy-Johnston Inc. (PINKSHEETS: FOYJ), a venture capital company, is
pleased to announce that it has closed its acquisition of Liquid
Gold International Inc. a leader in the enhanced oil recovery
business. The Company has non-exclusive license rights to the use
of new, cutting edge technology which creates new opportunities
within the industry. The business plan of Liquid Gold is centered
on the utilization of this heavy oil recovery system, which sets it
apart and gives it a distinct advantage over other companies in the
field.
The advantages of the Liquid Gold International process:
- No exploration Risk
- No international or offshore risk
- Compactness of unit and low cost of unit
- Unit is totally portable, very easily transportable
- No drilling costs
- Superior technology
- No polluting surfactants, no residual toxic solvents, no
green-house gases
- No pipeline or injection wells needed
- No separation techniques needed, oil contains no water,
solvents or sand.
With this acquisition Liquid Gold becomes a wholly owned
subsidiary of Foy-Johnston Inc.
Foy-Johnston has positioned its energy business as a significant
strategic business area and will continue to acquire attractive oil
assets in order to establish a more robust and well-balanced
business portfolio.
"We have been working for the last 3 months on closing this
acquisition as we feel that this company will be the future of the
oil industry and the revenues and profits derived from this
business will be substantial giving shareholders above average
returns," stated Winay Sangsomborn, President of Foy-Johnston
Inc.
About Foy-Johnston Inc.
Foy-Johnston is a venture capital firm that specializes in
discovering and exploiting new technologies that have enormous
commercial application and explosive revenue potential. The
enhanced oil recovery business presents those very qualities that
Foy-Johnston's management team has identified to meet those
criteria. Our website is www.foyj.us
Forward-Looking Statements
Please be advised that statements made herein, other than
historical data, constitute forward-looking statements that involve
risks and uncertainties that could cause actual results to differ
materially from those stated or implied by such forward-looking
statements. The potential risks and uncertainties include, among
others, potential volatility in the company's stock price,
increased competition, customer acceptance of new products and
services offered by the company, and uncertainty of future revenue
and profitability and fluctuations in its quarterly operating
results. Please also be advised that the company's stock is not
currently registered with the Securities and Exchange
Commission.
Contact: Investor Relations E-mail: info@foyj.us URL:
http://www.foyj.us
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