ARUNDEL, AUSTRALIA / ACCESSWIRE / April 24, 2023 / China Dasheng Biotechnology Co. (OTC PINK:CDBT) today signed a Share Exchange Agreement for the purchase of all of the outstanding shares of Cycclone Magnetic Engines, Inc.
Cycclone Magnetic Engines, Inc. (CME) was incorporated in Nevada in January 2005 with 10,004,918 common shares being issued pro rata, pari passu to shareholders of record in Roadships Logistics limited as of December 14, 2004. In 2005, CME issued 1,271,018 preferred shares to existing and high-net-worth shareholders raising AUD$1,271,050.00. In January 2005, CME purchased all of the assets, documents, intellectual property, trademarks and trade secrets, 3D engine models, plant and equipment associated with Cycclone Magnetic Engines from Roadships Logistics Limited.
Cycclone Magnetic Engines (CME) base engine model is a "turbine style" engine configuration which was featured in 4 approved prospectuses (1 ASX listing) in Australia and New Zealand.
Cycclone Magnetic Engine Developments Limited (and subsidiaries), which is under effective control of CDBT, base engine model is the "Y opposing piston, divaricate cylinder engine" configuration.
With CDBT acquiring the original founding company, Cycclone Magnetic Engines, Inc., it becomes the complete package for the company forging forward. With all of the intellectual property, all of the work to date, plant and equipment coming under one corporate roof. Further, it drives home the creed of Cycclone founders, management, and stakeholders to "never leave a shareholder behind, regardless of the external attack".
The acquisition of CME will become the merger name change entity and the proposed new name is now, Cycclone Magnetic Engines, Inc.
/S/ Micheal Nugent
CEO of CDBT
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CDBT. Cycclone Magnetic Engine Developments, Inc.
On September 30, 2022, CDBT and Cycclone Magnetic Engine Developments Limited entered into an Operating Agreement for The Amended Share Exchange Agreement giving effective control of Cycclone Magnetic Engine Developments Limited and the wholly owned subsidiaries.
Cycclone Magnetic Engine Developments Limited is engaged in the development and commercialization of new geometric configuration low carbon emission engines and other clean technology solutions with a view to create technologies that improve efficiency and reduce levels of greenhouse emissions. Cycclone has shareholding, assets and interests in transport operations in Australia. Cycclone Magnetic Engine Developments Limited operations are based in Australia.
Contact:
Micheal Nugent
mnugent@nugent.com.au
www.cdbtcycclone.com
+61438158688
Safe Harbor Statement
Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Risk factors that could cause actual results to differ materially from those projected in forward-looking statements include, but are not limited to, general business conditions, managing growth, and political and other business risks.
SOURCE: China Dasheng Biotechnology Co.
View source version on accesswire.com:https://www.accesswire.com/750851/CDBT-Enters-Agreement-to-Acquire-Cycclone-Magnetic-Engines-Inc-the-Founding-Company-of-the-Magnetic-Engine-Project
