Message #21 From:
NewsBot Date: November 28, 2006 07:33:00 AM
WTAF News Wataire Industries to Issue 1 for 1 Share Dividend
VANCOUVER, British Columbia--(BUSINESS WIRE)--The Board of Directors of Wataire Industries Inc. (Pink Sheets:WTAF) is
pleased to announce that shareholders of record, as of June 30, 2005,
will receive a dividend of one restricted Wataire Industries Inc. share
for every share held as of that effective date and will implement its
dividend share program within as reasonable a period of time as is
practical.
On May 9, 2006, the Company originally announced that, under the then
terms of a licensing agreement with Global Wataire Inc., shareholders of
record would be issued Preferred D stock of Global Wataire. The
Preferred D stock was intended as compensation for Global Wataire’s
exclusive world wide licensing agreement to distribute Wataire
Industries Atmospheric Water Generator technology. That agreement was
subsequently terminated and no Preferred D stock was issued to Wataire
Industries Inc.
However, the Company does value the continued support of its original
shareholders and will honor its original intent by dividending
restricted stock to its shareholders of record on a one-to-one basis.
The Company is encouraged by the ongoing sales success of Wataire
International Inc (OTCBB:WTAR), the exclusive worldwide marketing and
distribution licensee of the Company’s
innovative technology. Wataire Industries will continue to invest
heavily in ongoing research and development programs to fully exploit
the revolutionary nature of its exclusive turbine technology as well as
continue to improve the performance and benefits of its current safe
drinking water products.
Max Weissengruber, Company President stated that, “By
partnering with Wataire International, we have acquired the resources
and entrepreneurial spirit that will allow for rapid worldwide sales
expansion. Wataire International will also provide ongoing customer
research and feedback to help drive our technology and product
development strategies.”
Forward-Looking statements in this release are made pursuant to the safe
harbor provision of the Private Securities Litigation Reform Act of
1995. Investors are cautioned that such forward-looking statements
involve risks and uncertainties, including without limitation, continued
acceptance of the Company’s products,
increased levels of competition for the Company, new products and
technological changes, the Company’s
dependence on third-party suppliers, and other risks detailed from time
to time in the Company’s periodic reports
filed with the Securities and Exchange Commission.
