Rolltech to Pursue International Caviar Market through value added caviar processing technology and proprietary products.
REDMOND, Wash. - Mar. 18, 2002 -- Rolltech Inc. (OTCBB "RLTE") today announced that on March 13, 2002, our wholly-owned subsidiary, Golden Caviar Corp., entered into an agreement with Sea Technology Enterprise, LLC and Dr. Vyacheslav Sova, pursuant to which Golden Caviar Corp. agreed to purchase certain assets from Sea Technology and to acquire an exclusive license to certain intellectual property from Dr. Sova.
REDMOND, Wash. - Mar. 18, 2002 -- Rolltech Inc. (OTCBB "RLTE") today announced that on March 13, 2002, our wholly-owned subsidiary, Golden Caviar Corp., entered into an agreement with Sea Technology Enterprise, LLC and Dr. Vyacheslav Sova, pursuant to which Golden Caviar Corp. agreed to purchase certain assets from Sea Technology and to acquire an exclusive license to certain intellectual property from Dr. Sova. The transactions contemplated in this Agreement closed on March 13, 2002. The assets that Golden Caviar Corp. purchased from Sea Technology consist of equipment that will, together with the technology licensed by Dr. Sova, permit Golden Caviar Corp. to produce salmon caviar and salmon caviar products. The license that Dr. Sova granted to Golden Caviar Corp. is a worldwide and exclusive license to use certain intellectual property that is the subject of a number of Russian patents, as well as other intellectual property (including certain proprietary recipes) with respect to the production of salmon caviar and salmon caviar products.
Dr. Sova assumed the position of president for Golden Caviar Corp on March 13th, with direct reporting responsibilities to Michael Scheglov the President of Rolltech.
"The supply of black caviar from sturgeon has declined 80-90 percent over the last 20 years due to over-fishing and environmental degradation. Dr. Sovas 30 years of research and industrial application of biochemistry and marine biology provides Golden Caviar with several proprietary processes and products which we believe will allow the company to present compelling products to meet the markets unmet demands" Said Michael Scheglov president of Rolltech.
Golden Caviar plans to commence operations in June 2002 following the establishment of the necessary infrastructure, including the construction of three planned primary processing facilities.
Legal Notice Regarding Forward-Looking Statements
Statements in this press release which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this release include but are not limited to: our belief that our processes and products will enable us to meet the markets unmet demands, and our plans to commence operations in June 2002 following the establishment of the necessary infrastructure.
It is important to note that the companys actual results and outcomes may differ materially from those contained in the forward-looking statements contained in this press release. Factors that could cause actual results to differ materially include, but are not limited to, risks and uncertainties such as: the fact that the commencement of our operations will be subject to receipt of all necessary regulatory approvals, licenses and permits; the successful development of the infrastructure required for our intended operations; the securing of adequate supplies of quality salmon roe; market acceptance of our caviar products; and the overall success of Rolltech and its subsidiary, Golden Caviar, in general.
Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Readers should refer to the risk disclosures outlined in the companys current report on Form 8-K dated March 15, 2002 filed with the Securities and Exchange Commission.
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