Toronto, Canada, September 3, 2010 -- NW Tech Capital NWTT.OB, http://www.nwtechcapital.com
Bermal Contracting is a Canada based company focusing on quarrying a high quality stone in British Columbia, Canada. Bermal is an operating subsidiary of NWTT. The company is aware that its share price is in peril, and is currently investigating the causes of this.
The company takes this matter quite seriously, and will engage an investigator, forensic accounting, and discussions with ex-management to ascertain as to what amount if any shares and whom were issued prior to the merger of NWTT and Bermal. The company confirms that it is not deluding, and it is hopeful that the current downward share price that NWTT is experiencing is a temporary one, and the situation will rectify shortly.
On the day-to-day operations side, current Bermal operations offer solid revenues, assets and operations. Company expansion plans include start of production of stone and pallets of varying size that will be sold directly to medium and high-end landscapers. At this time, the company is investing in equipment in order to start this expansion with a launch target date of mid- late 2011.
The company intends to keep its shareholders advised of any progress via its IR Company, postings and filings on both SEC, EDGAR filing system, and on Pink Sheets filing system. More updates will be made available as they crystallize. The company is taking this matter quite seriously.
Safe Harbor Statement Information in this news release may contain statements about future expectations, plans, prospects or performance of NW Tech Capital Inc., that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project" and similar words and phrases are intended to identify such forward-looking statements. NW Tech Capital Inc. cautions you that any forward-looking information provided by or on behalf of NW Tech Capital Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. NW Tech Capital Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond NW Tech Capital Inc.'s control. In addition to those discussed in NW Tech Capital Inc.'s press releases, public filings, and statements by NW Tech Capital Inc.'s management, including, but not limited to, NW Tech Capital Inc.'s estimate of the sufficiency of its existing capital resources, NW Tech Capital Inc.'s ability to raise additional capital to fund future operations, NW Tech Capital Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match NW Tech Capital Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. NW Tech Capital Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
SOURCE: NW Tech Capital Inc.
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