LONDON--(Marketwired - Jul 29, 2013) - Harmonic Energy Inc. (
On January 16th Harmonic announced the signing of a term sheet to provide the company with up to $10 million in financing with Exelerate Group for the roll out of its core projects. Due to the Unauthorized Listing on Berlin Borse Exchange and the unfavorable stock price, management felt the terms and conditions under which the financing could take place were no longer in the best interest of the company and its shareholders in moving forward.
Currently Mr. Mann is talking with other potential funding partners and is aggressively seeking other opportunities for the company and will update the shareholders as soon as any terms are met.
The company is still pursuing an answer to the unauthorized listing on the Berlin Exchange and will update the shareholders with progress.
About Harmonic Energy Inc.
Harmonic is a company that focuses on a comprehensive solution to the disposition of scrap tyres worldwide. Harmonic's plans include the utilization of proven technologies that ensure each scrap tyre is either remanufactured and put back on the road as a new tyre or is completely recycled and reduced into marketable chemical commodity products. Both the tyre remanufacturing and carbonization technologies that will be utilized by Harmonic are commercially proven and have viable operating commercial facilities.
Harmonic plans to be the first company to integrate these two technologies to provide a comprehensive 'closed-loop' solution for the management of scrap tyres. By design, Harmonic plans to offer a solution that replicates nature's intentions by developing symbiosis between waste, energy supply and sustainable growth. For more information please visit ASUV's website -- www.harmonicenergyinc.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.