LEUNA, Germany--(BUSINESS WIRE)--CalciTech Ltd. (OTCBB: CLKTF) announces that following the Board’s approval of the project at Piesteritz, Germany, CalciTech Synthetic Minerals Europe Ltd, (“CSME”) is pleased to announce the registration of CalciTech Piesteritz GmbH. Initially formed with minimum share capital of €25,000, this will be increased on determination of the project funding. This Company is 100% owned by CSME and its purpose is to construct and operate a Synthetic Calcium Carbonate (“SCC”) plant.
CSME’s chairman, Michael J.B. Brickell will act as the new company’s first Geschäftsführer. Mr. Brickell commented “The registration of this new project company will now allow us to move forward with the project in the New Year.”
About CalciTech Ltd:
CalciTech Ltd has developed and patented unique technology for the production of Synthetic Calcium Carbonate, “SCC” a specialty material that may be widely used in industrialized parts of the world and is developing operating licensees in these territories, the first being in Europe. With its technological capabilities, CalciTech will continue to develop the product potential into other areas.
About CalciTech Synthetic Minerals Europe Ltd:
The Company, recently established in England, has been granted an exclusive license for Europe to execute on the business plan to develop the use of SCC specialty products within the high end valued segments of paper, paint, polymer and related areas, food and pharma applications. CSME, independently managed, is seeking funding through the London market for investment in Europe.
The directors of the company take responsibility for this announcement.
This press release contains "forward looking statements" including forward looking statements as that term is defined in section 27a of the United States Securities Act of 1933 and section 21e of the Securities and Exchange Act of 1934. Statements in this press release, which are not purely historical are forward looking statements and include any statements regarding beliefs, expectation or intentions concerning the future. Forward looking statements in this press release include, but are not limited to statements which are subject to a number of contingencies and uncertainties, including, but not limited to, market acceptance for CalciTech's products, manufacturing of CalciTech's products in a commercial setting, obtaining adequate financing and construction management for production and obtaining appropriate permits.
It is important to note that the corporation's actual outcomes may differ materially from those in forward looking statements contained in this press release. Although the company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations and intentions will prove to be accurate. Readers should refer to the risks disclosures in the company's public filings with the Securities and Exchange Commission.