Momentum Receives Expression of Interest

February 23, 2009 by · Comments Off on Momentum Receives Expression of Interest 

Webmaster NewsToronto, Ontario – Momentum Advanced Solutions Inc. (TSX:WWW), (“Momentum” or the “Company”), announced today that it had received a non-binding expression of interest from a company controlled by Sheldon Pollack and Phillip DeLeon, the Chief Executive Officer and President, respectively, of Momentum, with respect to the possible privatization of Momentum. The expression of interest indicated that the offeror would be prepared to pay $0.20 in cash per common share to the shareholders of Momentum (other than Messrs Pollack and DeLeon, their associates and affiliates).

Sheldon Pollack and Phillip DeLeon each own or control approximately 20% of the 64,105,577 outstanding common shares of Momentum. Read more