Attached files
| file | filename |
|---|---|
| 8-K - 8-K - Abtech Holdings, Inc. | v191194_8k.htm |
| EX-2.1 - Abtech Holdings, Inc. | v191194_ex2-1.htm |
Exhibit
99.1
Abtech
Holdings Enters into Definitive Binding Agreement to Merge with AbTech
Industries
SCOTTSDALE, AZ – (MARKETWIRE – July
19, 2010) – Abtech Holdings, Inc. (OTCBB: ABHD) (“the “Company”) is
pleased to announce that it has entered into a definitive binding agreement and
plan of merger with AbTech Industries, Inc., a Delaware corporation (“AbTech
Industries”).
Under the
terms of the agreement, a wholly-owned subsidiary of the Company will acquire
all of the issued and outstanding capital stock of AbTech Industries in exchange
for the shareholders of AbTech Industries acquiring a controlling ownership
interest in the Company. At the closing of the merger transaction, AbTech
Industries would become a wholly-owned subsidiary of the Company and the board
of directors and management of AbTech Industries would become the board of
directors and management of the Company. The reverse merger is subject to a
number of closing conditions, including approval by the shareholders of AbTech
Industries.
About Abtech Holdings, Inc.
(OTCBB: ABHD)
Details
about the pending merger transaction and about Abtech Holdings' business,
finances, appointments and agreements can be found as part of the Company's
continuous public disclosure as a reporting issuer under the Securities Exchange
Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR
database.
About
AbTech Industries, Inc.
AbTech
Industries has been a privately held company since its founding over a decade
ago as a startup R&D venture. AbTech Industries' operations have been funded
by over $20 million dollars invested to-date. Its patented Smart Sponge®
technology is a unique and innovative chemically selective polymer technology
capable of removing hydrocarbons, sediment and other foreign elements from still
(ponds, lakes and marinas) or flowing water (curbside drains, pipe outflows,
rivers and oceans). The product is installed in over 13,000 locations across
America and in 8 foreign countries. AbTech Industries is currently working on a
variety of efforts to deploy its technology in the Gulf of Mexico and throughout
the US public sector and DOD markets. For more information please visit:
www.abtechindustries.com.
Notice
Regarding Forward-Looking Statements
This news
release contains "forward-looking statements" as that term is defined in Section
27A of the United States Securities Act of 1933, as amended and Section 21E of
the Securities Exchange Act of 1934, as amended. Statements in this press
release which are not purely historical are forward-looking statements and
include any statements regarding beliefs, plans, expectations or intentions
regarding the future. Such forward-looking statements include, among other
things, the development, costs and results of new business opportunities. Actual
results could differ from those projected in any forward-looking statements due
to numerous factors. Such factors include, among others, the inherent
uncertainties associated with new projects and development stage companies.
These forward-looking statements are made as of the date of this news release,
and we assume no obligation to update the forward-looking statements, or to
update the reasons why actual results could differ from those projected in the
forward-looking statements. Although we believe that any beliefs, plans,
expectations and intentions contained in this press release are reasonable,
there can be no assurance that any such beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consult all of the
information set forth herein and should also refer to the risk factors
disclosure outlined in our annual report on Form 10-K for the most recent fiscal
year, our quarterly reports on Form 10-Q and other periodic reports filed from
time-to-time with the Securities and Exchange Commission.
Exhibit
99.1
ON BEHALF
OF THE BOARD
Abtech
Holdings, Inc.
Mandi
Luis, President
Investors
Relations
Phone: +1
(480) 320-4738
Email: info@abtechinfo.us
Source:
Abtech Holdings, Inc.