MIDLAND PARK, N.J., June 14 /PRNewswire-FirstCall/ -- Roger L. Fidler Esq. is pleased to announce that the Board of Directors of Global Agri-Med Technologies, Inc. (Pink Sheets: GAGO) has entered into a Letter of Intent to acquire the assets of Quad Energy of Canada through a reverse merger with Quad Energy being the surviving public entity.
The Letter of Intent is subject to completion of satisfactory due diligence, the satisfaction of closing conditions customary to transactions of this nature and receipt of closing proceeds.
Upon execution of a definitive sales agreement, Quad Energy will own the majority of GAGO.
Quad Energy Corporation is an oil & gas company based in Calgary, Alberta with an experienced management team including the following:
Fred DaSilva – President and CEO
Mr. DaSilva is responsible for the sourcing of oil and gas prospects for acquisition and the leasing of key properties for exploration for Quad. He was President and a member of the Board of Directors of Quartz Ventures Inc from September 25, 2008 to June 2010 and during the past 20 years has been closely involved with a variety of private and public companies providing expertise in the areas of business planning and development, mergers and acquisitions and financing. He has also been directly involved in raising investment capital for several companies in the oil and gas sector, ranging from start-up to emerging high growth public companies. From 1986 through 2001, Mr. DaSilva was a senior procurement officer involved in negotiations and strategic planning for Pan Canadian Petroleum.
MONTY SCORY - Vice President, Field Operations
Mr. Scory will be directly responsible for coordinating efforts to bring Quad Energy's recently drilled oil wells into production and planning future drilling. Mr. Scory brings over 20 years of oil industry experience. He has worked in drilling and work over production of oil and gas for major and junior oil companies. Mr. Scory has also focused on the safety aspects of the industry and has an outstanding safety record.
Quad's development strategy is to complete and put into production its existing drilled wells (4 oil and 5 gas wells) in order to achieve immediate cash flow, further explore and develop its approximately 10,000 acre landholding and opportunistically acquire properties with previously drilled wells and bring them back on stream for immediate production.
For more information on Quad Energy, please see the company's web site www.quadenergy.ca
Roger L. Fidler Esq. was quoted as saying that "I am very excited about our movement into the resource space. The current state of the oil and gas market presents compelling opportunities for an experienced management team such as Quad's. This acquisition will add substantial long term value to the holders of Global Agri-Med securities."
Safe Harbor Notice
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Global Agri-Med Technologies, Inc. cautions that statements made in this press release relating to the change of control and new business direction constitute forward-looking statements and makes no guarantee of future performance. Actual results or developments may differ materially from projections. Forward-looking statements are based on estimates and opinions of management at the time statements are made.
SOURCE Global Agri-Med Technologies, Inc.