HOLLYWOOD, Fla., Feb. 26 /PRNewswire-FirstCall/ -- Publicly traded MAC1 INDUSTRIES CORP. (Pink Sheets: MIRA) has merged with TYCOON INDUSTRIES, LLC, formerly known as Tycoon Telecom. Tycoon Industries' Managing Member, Mr. M. Benchimol and MAC1 Industries' CEO, Sam Abecassis have signed a Securities Exchange Agreement whereby all privately held membership units of Tycoon Industries, LLC were tendered to MAC1 Industries Corp. in exchange for a portion of Sam Abecassis' shares of common stock of MAC1 Industries Corp.
According to in-house counsel and director of business development, Eddie Nurieli, Esq. the stock exchange of Mr. Abecassis' shares were made as a strategic move for the benefit of MAC1 and its shareholders to prevent dilution of the stocks. New board members will be installed from both entities to solidify the board of directors. According to Mr. Nurieli, in the forthcoming weeks, MAC1 will file with FINRA an application for the issuance of a new symbol and name change, and additional information will be released and a new symbol will be issued, representing MAC1 Industries as the parent company of Tycoon Industries, LLC.
"This is a great day for both companies, our technology, know-how, and intellectual properties that we are bringing to the table to MAC1 will greatly enhance the overall company value of MAC1 and directly increase shareholder value. Most importantly, Tycoon Industries' financial strength will boost MAC1's credit worthiness and financial abilities," stated Mr. Benchimol upon the execution of the merger documents. Tycoon Industries' D&B credit rating of 1A3 evidences strong sales for 2008 and 2009. Tycoon is projecting $40 million sales for 2009 on mobile VoIP and trading of cellular handsets. Mr. Benchimol went on to say that the merger will prove to be beneficial largely due to the correlation between the two companies. Both companies utilize, advocate, and distribute green technologies.
Tycoon Industries is involved in the following technologies: -- Telecom - mobile/VoIP -- Pharmaceuticals -- Healthcare - Telemedicine -- Chemicals -- Solar nano-tech technologies -- Telelaw -- Mobile advertising -- Freight & Logistics
Most notably Tycoon Industries is known as the company that developed the international SIM card without roaming charges. Tycoon Industries' disruptive technology enables cellular phone users to travel globally and connect locally. Tycoon's SIM card is a pre-paid Smart Card that offers travelers and business people GSM service with simple low international roaming charges that saves users up to 85% on all outgoing calls. More information on the products can be found on the company's website http://www.simcards4us.com/ .
Other technologies that are in Tycoon's pipeline involve amazing breakthroughs in science and technology.
Tycoon Industries, LLC became a subsidiary of MAC1 Industries Corp. and will remain operating independently to continue with its business model, technologies and channels of distribution. Tycoon will cooperate with MAC1 to cross distribute MAC1's patented LED energy savings light bulbs and solar technologies.
As a result of the growing demand for LED lights by commercial and consumers, MAC1 has added SIGNARAMA as an authorized distributor of MAC1's energy saving LED light bulbs and fixtures. LED lighting is a multi-billion dollar industry. MAC1 Industries Corp. forecasts they can capture a large percentage of this marketplace through future operations and the merger with Tycoon Industries.
