CHEYENNE, Wyo., Nov. 5, 2015 /PRNewswire/ -- The directors and management of Formosa Liberty Corp. (OTC PINK: FLIB) announce the following:
Formosa Liberty Corporation or "The Company" has consummated the previously announced agreement with N1 Technologies. As a result Formosa Liberty has acquired the Nanosave Technologies business assets including all proprietary lubricant formulas, licenses and affiliate retail relationships, accounts receivables and customer lists, and Oil, Lube and Paint Inventory. The sale also includes N1 Technologies' patent rights in the N1 Organic Bio Based Motor Oil and Tungsten Hull Coat Paint.
The Nanosave™ product line is available from affiliate retailers and Amazon: http://tinyurl.com/nanosave
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "will" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
Typically the longer sovereign debt has been in default, the less likely a settlement. Some debt is so old that the bonds have more current value as a historical document than as a security. Sovereign bonds that no longer trade on an exchange and have no current ISIN number should not be referred to as a security per se and are listed on the Company books as having no value. There can be no assurance that the Company will be able to successfully redeem the bonds in its inventory. Formosa Liberty makes no representation that defaulted sovereign debt can be redeemed or restructured successfully as a successful settlement depends on many factors beyond the control of bondholders of the Company.
SOURCE Formosa Liberty Corp.