Posted by: africanpressorganization | 11 July 2011

Adama Technologies in Advanced Negotiations to Purchase Mining Asset in Africa

 

Adama Technologies in Advanced Negotiations to Purchase Mining Asset in Africa

 

[11-July-2011]

 

    NEW YORK, July 11, 2011 /PRNewswire/ —

 

 

Adama Technologies Corp. (OTCBB: ADAC), a clean-tech company dedicated to the remediation of contaminated brownfields, today announced the company has entered into advanced negotiations to purchase a major mining asset in Africa.

Purchase of the asset is intended to improve the company’s ability to raise capital toward the development of new and existing projects.

The company entered into negotiations on the African mining asset following attempts with a separate party to negotiate the sale of Adama’s existing asset in Romania. A previously announced offer to purchase a renewable energy project in Bucharest currently held by Adama has been withdrawn.

As a result, intended dividend payments to shareholders will not be issued as announced.

“Adama is continuously advancing business development activities that will bring the company the capital necessary to fully finance new and existing projects,” said Aviram Malik, CEO of Adama Technologies. “We believe this acquisition can add significant value to our company and broaden our ability to attract investors in the near future.”

About Adama Technologies Corp.

Adama Technologies Corp. acquires, decontaminates and revitalizes brownfields using patented Molecular Bond Solution (MBS) Technology. The Technology has successfully completed the site testing program of the Environmental Protection Agency, and is ready for commercial use.

To learn more about Adama Technologies and MBS Technology, please visit http://www.adama-tech.com.

Forward-Looking Statements

This letter contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of Adama Technologies Corp., and its technologies. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release, as actual results may differ materially from those indicated in the forward-looking statements. Adama Technologies’ public filings may be viewed at http://www.sec.gov.

Contact:

Aviram Malik, CEO

Tel +972-54-494-3953

Aviram@adama-tech.com

 

SOURCE Adama Technologies Corporation    

    

Company Codes: OTC-BB:ADAC     


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