Filed In: Medina International, MIHI, Jet Boats, boating, rescue boats, watercrafts, Medina Marine, WinTec, CORTAIN
On July 01, 2011 Medina International Holdings, Inc announced that it has entered into a Contribution and Exchange Agreement with WinTec Protective Systems, Inc. Medina has agreed to issue 3,000,000 shares of its restricted common stock in exchange for 20,400,000 shares of the common stock of WinTec. The exchange resulted to Medina holding 51% of the issued and outstanding common stock of WinTec, therefore making WinTec a subsidiary of the Company.
Medina believes that the acquisition of WinTec is another milestone for the company, enabling them to have access on WinTec’s products that are naturally complementing with their watercraft business. WinTec is a developer of high propriety products like CORTAIN, an anti-corrosion material for small marine craft.
Medina International company web site: http://harborguardboats.com/
Profile on Medina International: http://stockguru.com//about/mihi/
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