Attached files
| file | filename |
|---|---|
| 8-K - KENSINGTON 8K - Gepco, Ltd. | kensington_8k.htm |
| EX-10.1 - SHARE EXCHANGE AGREEMENT - Gepco, Ltd. | ex10_1.htm |
Exhibit
99.1
Kensington
Leasing Agrees to Acquire WealthMakers, Ltd.
Friday
August 27, 2010
REDLANDS,
Calif –Kensington Leasing, Ltd. (OTCBB: KNSL) today announced that it had
entered into a definitive agreement with WealthMakers, Ltd. to acquire 100% of
their outstanding shares in a stock transaction.
WealthMakers,
a privately held Wyoming corporation with 15,354,000 shares issued and
outstanding, is a web-based predictive research technology company that connects
to automated trading platforms for stocks, indexes, bonds, options,
commodities and currencies and can trade in up to 80 markets around the world in
a single universal account provided by a leading online broker.
KNSL
shall issue 3,838,500 shares of its common stock with a market value of
$15,737,850 in exchange for 100% of the issued and outstanding capital shares of
WealthMakers. The value of the KNSL common stock exchanged is based
on the closing price reported on the over-the-counter bulletin board as of
August 16, 2010. The closing of the transaction is subject to a
number of conditions, and is anticipated to occur in late September or early
October.
Making
the announcement Angelique de Maison, Chairman and CEO of Kensington Leasing
said, “We are very pleased to reach an agreement to acquire
WealthMakers. We are very excited about the WealthMakers business and
opportunities. Financial information and automated trading based on
this information is a hot topic on Wall Street lately. Computer-based
analysis and automated trade execution comprise up to 70% of the daily trading
volume on US stock exchanges.”
* * *
FORWARD
LOOKING STATEMENT: This press release contains forward-looking statements,
including statements about the consummation and timing of the purchase of
WealthMakers by Kensington Leasing, the business plan and prospective financial
condition of Kensington Leasing. The forward-looking statements are
subject to risks and uncertainties, including that the parties may not complete
the transaction or that when completed, the transaction might be different than
presently contemplated. Readers should not place undue reliance on
the forward-looking statements. Neither Kensington Leasing nor
WealthMakers undertakes any obligation to publicly revise these forward-looking
statements to reflect subsequent events or circumstances. In
addition, any forward looking statements regarding forward expected industry
patterns and other financial and business results that involve known and unknown
risks, uncertainties and other factors that may cause our actual results, levels
of activity, performance or achievements to differ materially from results
expressed or implied by this press release. Such risk factors include, among
others: whether Kensington Leasing can successfully execute its operating plan;
its ability to integrate acquired companies and technology; its ability to
retain key employees; its ability to successfully combine product offerings and
customer acceptance of combined products; general market conditions; and whether
Kensington Leasing can successfully develop new products and the degree to which
these gain market acceptance. Actual results may differ materially from those
contained in the forward-looking statements in this press release.
Contact:
Kensington
Leasing, Ltd.
Angelique
de Maison
CEO
909-708-4303
investorrelations@kensingtonleasing.com