HOUSTON, June 07, 2016 (GLOBE NEWSWIRE) -- Anasazi Energy Corporation (OTC.US:ANSZ) today announced the Company has entered into a Reorganization and Stock Purchase Agreement (RSPA) with Solar Quartz Technologies Limited, incorporated in New Zealand. The parties have agreed that the value of SQT’s assets and future cash flows is US$530 million. Final closing is scheduled for on or before June 30, 2016.
Upon closing, the name of ANSZ will be changed to Solar Quartz Technologies, Inc. (“SQTI”), with a new trading symbol. ANSZ will issue shares of common stock as payment to SQTI that will be equivalent to 95% of the Company’s shares on issue. The Company does not anticipate any further reorganization of its common stock. Upon closing, SQTI plans to immediately prepare audited financial statements and become fully reporting with the SEC, and then uplift SQTI to trade on the more senior OTCQX exchange or NASDAQ. SQTI anticipates qualifying to trade on a more senior exchange prior to December 2016.
Jeff Freedman, President of Anasazi stated "We are pleased to make this important strategic acquisition capitalizing on the dominant emerging Solar Energy market, both here in the USA and globally. The directors of Anasazi are confident that upon completion, the SQTI business operations will provide substantial additional value to our shareholders.”
SQTI is a High-tech HPQS Production Business
Solar Quartz Technologies Limited is positioned as a High-Tech Refining and Processing manufacturer entirely focused on the production of commercial quantities of High Purity Quartz Sand (“HPQS”) to meet world demand. HPQS is an essential component necessary for the manufacture of all PV Solar Panels, Semi-conductors and all high-end electronics. The longevity of the SQT operations is well assured due to its extensive supplies of feedstock raw material for refining HPQS, located at its wholly owned high-purity silica/quartz mineral deposits (JORC 14 million tons), located in Queensland, Australia.
SQT’s primary focus is on re-establishing the highly profitable production of commercial quantities (30,000 -80,000 tpa.) of High Purity Quartz Sand from new commercial facilities both in Australia and the USA. The SQT management team has extensive hands on experience (8 years) in all technical aspects and operational management areas of the highly profitable HPQS manufacturing business.
SQT has few competitors, as there are only a handful of manufacturers capable of producing both consistent quality and commercial quantities of HPQS worldwide. HPQS is traditionally in a demand position of under supply compared to global industry requirements. The burgeoning global demand for large capacity power generating solar farms, both in the USA and worldwide, is further consolidating the increased demand for high purity quartz production.
PV Solar Panel Feedstock Production Materials – Solar-grade Silicon
SQT can produce low-cost solar-grade PV silicon due to its sole ownership extensive deposits of natural high purity silica/quartz feedstock, combined with ability to utilize new processing technologies. A high degree of interest from several large Global end users of PV solar grade silicon has been expressed as potential joint venture partners to capitalize on SQTI’s unique cost advantages by establishing a PV Silicon production facility for the production of solar grade PV silicon at below market cost.
SQT is well positioned to become a dominant global supplier of all raw materials required in the production of both PV Solar panels, and HPQS, as well as fulfilling demand from many other segments of the Semiconductor, and all high-end electronics manufacturing industries.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Clearwave Telecommunications encourages those interested in our Company to rely only on information included in our filings which can be found at www.otcmarkets.com. Statements released by Clearwave Telecommunications that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions, and strategies for the future. Investors are close cautioned that forward-looking statements involve risk and uncertainties that may significantly affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental, and technological factors. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
Source:Anasazi Energy Corporation