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CoolCan Technologies Inc. - Enters Into Funding Agreement
CALABASAS, Calif.--Oct. 29, 2001--CoolCan Technologies Inc. (the "Company") announced today that it has entered into a funding agreement with Bay Financial S.A. ("Bay Financial"), a shareholder of the Company. Under the terms of the funding agreement, Bay Financial will have the right to provide up to $1,000,000 US of funding on a private placement basis in tranches over the next 12-month period.
The purchase price for restricted shares purchased under the funding agreement will be 75% of the average closing price of the Company's common shares for the 10 day period immediately preceding receipt by the Company of a notice from Bay Financial of its intention to fund. Bay Financial has provided the Company with a notice of a first tranche of funding in the amount of $50,000 US. The Company intends to utilize the capital provided through the financing with Bay Financial to complete its product development program and for general working capital purposes. The Company believes the capital provided by Bay Financial will be sufficient to complete its current development program for its patented INSTACOOL(TM) self-chilling beverage container technology. Coolcan Technologies Inc. is the owner of a unique proprietary patented technology, INSTACOOL(TM), which may be utilized with any aluminium, glass or plastic (PET) container for soft drinks, beer, juice or water and which chills the beverage quickly when opened by the consumer. Retail sales of beverages have reached over $500 billion worldwide and over 100 billion cans are produced annually in the U.S. alone. For more information please visit the company web site at www.coolcantech.com or telephone toll free investor relations at 866-266-5226 (866-Cool-Can) company contact: David Parfitt. This Press Release contains, in addition, to historical information, forward-looking statements within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's expectations and beliefs, and involve risks and uncertainties, including statements regarding Cool Can's execution of its business plan. These statements may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. A key factor that could cause actual results to differ materially from those described in forward-looking statements is the ability of Cool Can to achieve the financing required to enable Cool Can to implement its business plan, of which there is no assurance. Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release. CoolCan Technologies Inc. Bruce Leitch, President
ChevronTexaco and Invensys sign marketing agreement for PETRO Refinery Planning System FOXBORO, Massachusetts (August 16, 2002) - A unit of ChevronTexaco has signed an agreement with Invensys Production Management, a resource productivity company, designed to provide Invensys with global marketing rights for the PETRO Linear Programming (LP) refinery planning system. Georgia Gulf to Announce Third Quarter Earnings ExpectationsATLANTA, Aug. 19 -- Georgia Gulf plans to release third quarter earnings expectations on Monday, September 23, 2002, following close of market. The company will discuss third quarter expectations via teleconference and Webcast on Tuesday, September 24, 2002, at 9:00 AM EDT. Praxair Announces Joint Venture With Belgian Manufacturer of Steelmaking EquipmentDANBURY, Conn.-- Aug. 16, 2002--Praxair, Inc. today announced that it has formed a joint venture in Belgium to manufacture steel-refining equipment. Eurotech, Ltd. Plans Management ChangeFAIRFAX, Va. --Aug. 19, 2002--Eurotech, Ltd., www.eurotechltd.com, today announced that late in the day on Friday, August 16, 2002, Todd J. Broms, a Director and the President and Chief Executive Officer, notified the Company of his intention to resign all three positions. CIDX, GPA join forces to promote XML StandardsALEXANDRIA, Virginia (August 20, 2002) - The Chemical Industry Data Exchange (CIDX) and Gas Processors Association (GPA) have formed an agreement to collaborate on the adoption of XML-based standards within the gas processing industry and implementation of the Chem eStandards to facilitate electronic trade within and between the gas processing and chemical industries. Cap Gemini Ernst & Young introduces Quick ConnectPHILADELPHIA, Pennsylvania (October 22, 2001) – Cap Gemini Ernst & Young has launched Quick Connect, a packaged solution designed to allow buyers, suppliers and trading partners to leverage digital commerce. 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AspenTech establishes Technology Advisory BoardCAMBRIDGE, Massachusetts (October 23, 2001) - Aspen Technology (aspentech.com) has established a Technology Advisory Board (TAB) to help provide strategic direction for the company’s long-term software development. According to AspenTech, the 13-member TAB will ensure the company’s software continues to utilize technical solutions to generate value for process industry customers. CheMatch and ForwardVue Technologies form strategic marketing agreementHOUSTON (October 22, 2001) – CheMatch.com (CheMatch.com), an Internet-based marketplace and information resource for buying and selling commodity chemicals, polymers, feedstocks and fuel products, and ForwardVue Technologies (forwardvue.com), a developer of supply chain risk management software solutions, have formed an agreement to co-market ForwardVue products to the chemical industry. Symyx Technologies Announces Grant of Patent for Parallel Pressure ReactorSANTA CLARA, Calif. --Oct. 24, 2001--Symyx Technologies, Inc. today announced the granting of a U.S. patent covering Symyx' Parallel Pressure Reactor, or PPR. Symyx uses the PPR for various research activities, such as polymer research, in its Industry Collaborations and internally funded programs. In addition, the PPR is an integral part of Symyx' Discovery Tools business through which it has been sold as a part of a polyolefins research workflow to Dow Chemical, ExxonMobil, Sumitomo Chemical and others. Symyx also earns royalties from the sale of the Endeavor, a product licensed to Argonaut Technologies, Inc. based on the Symyx PPR technology. DuPont Reports Fourth Quarter DividendWILMINGTON, Del., Oct. 24 – DuPont today declared a fourth quarter common stock dividend of 35 cents per share, payable Dec. 14 to stockholders of record Nov. 15. This dividend is the same as that paid in the third quarter 2001. This is the 389th consecutive quarterly dividend since the company's first dividend in the fourth quarter of 1904. Borouge prepares for start up of Polyethylene Plant in RuwaisABU DHABI (October 25, 2001) - Borouge, a joint venture company between Abu Dhabi National Oil Company (ADNOC) and Borealis, one of Europe’s largest polyolefin producers, is gearing up for the official operations of its polyethylene plant in Ruwais which has been scheduled for the end of the year. Dow Reports Third Quarter EarningsMIDLAND, Mich., Oct. 25 -- Dow Reports Third Quarter Earnings ChemConnect unveils new e-commerce negotiation tools and servicesDUSSELDORF, Germany (October 25, 2001) – ChemConnect (chemconnect.com), a provider of end-to-end e-commerce solution for buyers and sellers of chemicals and plastics, has revealed a range of online negotiation tools and services on its Exchange Floor. Moldflow Reports First Fiscal Quarter 2002 ResultsWAYLAND, Mass--Oct. 24, 2001--Moldflow Corporation, the world leader in process wide solutions for optimizing the design and manufacture of plastic products, today reports results for its first fiscal quarter ended September 29, 2001. Revenue of $8.2 million for the first quarter of fiscal 2002 was down 7% from the corresponding quarter of fiscal 2001. ATG Announces the Appointment of Frank Chiu as CFOHayward, Calif.--Oct. 24, 2001--ATG, Inc., a leading multi-technology Radioactive Waste and Radioactive Mixed Waste treatment services, today announced a change in roles and responsibilities in its management structure. In a five to zero Board decision, the Company accepted the departure of its Vice President of Finance/Chief Financial Officer, Phillip Jordan, who has been with the Company since June 25, 2001. 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Eastman Announces Third-Quarter EarningsKINGSPORT, Tenn.--Oct. 25, 2001---Eastman Chemical Company today announced third-quarter 2001 earnings of $0.55 per diluted share excluding certain nonrecurring items versus $1.05 per diluted share excluding certain nonrecurring items for the same period in 2000. Including certain nonrecurring items, third-quarter 2001 earnings were $0.31 per diluted share.
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