New Century Resources Corporation to Acquire Emissions Zero Module LLC

Rhea-AI Summary

New Century Resources Corporation (Pink OTC: NCRE) has signed a Letter of Intent to acquire all shares of Emissions Zero Module LLC. This acquisition involves New Century's restricted common stock and aims to enhance its capabilities in reducing emissions and improving fuel efficiency through the EZM Module. The deal entails confidentiality regarding specific terms, pending due diligence, and requires majority shareholder approval. Notably, the acquisition could provide strategic advantages in the environmental technology sector.

Positive

• Acquisition of Emissions Zero Module LLC could lead to enhanced product offerings in emission reduction and fuel efficiency.
• Possession of patents, cash, and equipment from Emissions Zero Module supports future development initiatives.
• Potential for revenue growth by marketing the EZM Module or licensing it to third parties.

Negative

• The transaction is subject to the completion of due diligence and shareholder approval, which introduces uncertainty.
• No specific financial terms disclosed, raising concerns about potential undisclosed liabilities.

TUCSON, Ariz., Sept. 20, 2021 /PRNewswire/ -- The following is being issued by New Century Resources Corporation (Pink OTC:NCRE):

New Century Resources Corporation is pleased to announce that it has executed a Letter of Intent to acquire all the issued and outstanding shares of Emissions Zero Module LLC, a Wyoming Corporation for New Century's restricted common stock.

The principal assets of Emissions Zero Module consist of patents, cash and equipment. New Century will have the right to continue developing, and then producing and marketing the "EZM Module" or license third parties to do so. The EMZ Module is designed to materially decrease the emissions from Gasoline and diesel engines and substantially improve fuel efficiency.

The terms and condition of the Letter of Intent will remain confidential and subject to the completion of each entity's due diligence obligations and the completion of audited consolidated financial statements; and is subject to the majority approval of each Company's shareholders.

This communication to shareholders and the public contains certain forward looking statements. Actual results may vary materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding, estimated future production, and the value thereof, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

View original content:https://www.prnewswire.com/news-releases/new-century-resources-corporation-to-acquire-emissions-zero-module-llc-301379706.html

SOURCE New Century Resources Corporation

FAQ

What is the purpose of New Century Resources Corporation's acquisition of Emissions Zero Module LLC?

The acquisition aims to enhance New Century's capabilities in reducing emissions from gasoline and diesel engines and improving fuel efficiency.

What are the principal assets of Emissions Zero Module?

The principal assets include patents, cash, and equipment related to the EZM Module.

What are the expected benefits of the EZM Module?

The EZM Module is designed to materially decrease emissions and substantially improve fuel efficiency.

What approval is required for the acquisition to proceed?

The acquisition requires majority approval from the shareholders of both New Century Resources Corporation and Emissions Zero Module LLC.

What risks are associated with this acquisition for NCRE shareholders?

The acquisition is subject to due diligence and shareholder approval, creating uncertainty about its completion and potential undisclosed liabilities.