BELGIUM, Wis., Jan. 5 Mach One Corporation(Pink Sheets: MNCN), a biological solutions company that develops productsthat produce a positive long term benefit to the agricultural and consumermarket, announced today that it has entered into a non-binding letter ofintent dated December 30, 2008 related to a proposed transaction with ModularProcess Constructors LLC (dba MPS BioPharm) (the "Seller" or "BioPharm") toacquire all of the outstanding member interests of the Seller.
The proposed transaction is subject to satisfactory completion of duediligence by the Purchaser, the execution of a definitive agreement and theapproval of both the board of directors and the members of Seller.
The non-binding terms of the letter of intent provide that all members ofSeller would receive shares of the Purchaser in exchange for 100% of theirinterest of BioPharm. The terms include issuance of preferred stock withconversion rights at .25 per share in Mach One Corporation common stock.
There can be no assurance that any definitive agreement will be enteredinto, that any proposed transaction will be approved by the members ofBioPharm or that any transaction will be completed as a result of theexecution of the letter of intent.
Monte Tobin, CEO of Mach One Corporation commented, "This proposedacquisition of Modular Process Constructors, a systems company supplyingpharmaceutical companies with processing skids, would fill out an importantpart of our future growth plans- dealing with world class customers andincreasing our presence in the pharmaceutical space. Our business plan callsfor us to eventually provide our Bridge(TM) product line into the human marketand an acquisition now of BioPharm poises us for that future event on a globalscale. This marks our third transaction in the 4th quarter with eachtransaction occurring at a substantially higher price. We anticipate ourcorporate development activities will continue to take place at increasinglyhigher valuations (non-dilutive) utilizing both organic and acquisitiongrowth."
About Modular Process Constructors LLC (dba MPS BioPharm)
MPS BioPharm currently designs and builds skid based solutions to thebiopharmaceutical markets. These skids allow the acceleration of productionof biopharmaceutical products on a global basis.
About Mach One Corporation:
Mach One (www.machonecorp.com) currently manufactures and sells Bridge(TM) , a colostrums replacement, supplement and prophylactic, in sterilepowder form, which can be administered orally or intravenously. VDx is alsofurther developing a proprietary procedure to allow for large scalemanufacturing of colostral replacement products for market that includes anadded ingredient for elimination of mastitis and Johnnes disease.
Cautionary Statement: This news release may include certain"Forward-looking statements" within the meaning of Section 21E of the UnitedStates Securities Exchange Act, as amended. All statements, other thanstatements of historical fact, included in this release are forward-lookingstatements that involve various risks and uncertainties. There can be noassurance that such statements will prove to be accurate and actual resultsand future events could differ materially from those anticipated in suchstatements. This notice expressly qualifies all forward-looking statements inthis release.
SOURCE Mach One Corporation