MONTREAL, April 23, 2002 (PRIMEZONE) -- BusinessWay International Corporation (OTCBB:BITL) is pleased to announce the signing of a letter of intent with Pourslo International Development Inc., a leader in the biomass energy co-generation power plant technology sector.
Under the terms of the letter of intent, BusinessWay will form a new power corporation subsidiary that will acquire the rights, new contracts, power plant technology know-how, as well as the present key personnel of Pourslo International Development Inc.
The transaction is subject to completion of due diligence, execution of a definitive agreement and any regulatory approvals. Both companies intend to close the transaction by the end of May 2002.
Except for factual information contained herein, certain matters set forth in this press release are forward-looking statements that are subject to uncertainties, including, but not limited to, government regulation, taxation, spending, competition, general economic conditions and other risk factors.
For additional information: www.businessway.com/investors. Or Pourslo International Development Inc Website at: www.pourslo.com