NanoTech Entertainment, Inc. (NTEK: OTC Link) | NANOTECH ENTERTAINMENT (NTEK) COMPLETES BUYBACK OF TEN PERCENT ITS COMMON STOCK

NANOTECH ENTERTAINMENT (NTEK) COMPLETES BUYBACK OF TEN PERCENT ITS COMMON STOCK

Jan 25, 2013

OTC Disclosure News Service

Las Vegas, NV

800×600

FOR IMMEDIATE RELEASE

 

Contact:         
Denise Clifford

Phone:  
          (702) 518-7410

Email:
             denise@nanotechent.com

                 

                                                    

NANOTECH ENTERTAINMENT (NTEK)
COMPLETES BUYBACK OF TEN PERCENT ITS COMMON STOCK

                                                                                       

Completes Phase One of Buyback Plan to Reduce Overall Outstanding
Shares

                                                            

 

Las Vegas, NV
– January 23, 2013 –
NANOTECH
ENTERTAINMENT
(PINKSHEETS:
NTEK
) today announced that it has completed the first phase of a plan to
buy back shares of its common stock.  The
NanoTech Board of Directors had previously authorized a share repurchase
program under which the company plans to repurchase a total of roughly 25% of
its outstanding common stock on the open market or in privately negotiated
transactions.  The program identified two
stages, whereby a total 75 million shares would be acquired in phase one and 120
million shares would be acquired in phase two.

 

“The share
repurchase program emphasizes our continued commitment to building long-term
shareholder value and our confidence in the growth potential of NTEK,”
stated Jeffrey A. Foley, President and CEO of NanoTech. “The combination
of the rollout of new products hitting the market driven by the compelling
value proposition of our proprietary technology solutions positions the company
to maintain its positive momentum and growth.”

 

NanoTech plans
on completing phase two by the ends of January 2013.  All repurchased shares will be available for
use in connection with NanoTech’s stock plans, partnership contracts and for
other corporate purposes.  Foley closed
by stating ”As we examine and prioritize our opportunities to extend our
existing assets and relationships there will likely be opportunities to
increase investments in RD as well as other strategic partnerships and acquisitions.  The buyback puts us in a stronger position as
we evaluate all such opportunities.”

 

 

About NanoTech Entertainment

Headquartered in Las Vegas, NV, NanoTech Entertainment is a
technology company that focuses on all aspects of the entertainment
industry.  With three business units,
focusing on Gaming, Media IPTV and Mobile Apps, the company has a unique
business model.  The company has a
diverse portfolio of products and technology. 
NanoTech Gaming Labs operates as a virtual manufacturer, developing its
technology and games, and licensing them to third parties for manufacturing and
distribution in order to keep its overhead extremely low and operations
efficient in the new global manufacturing economy.  NanoTech Media develops proprietary
technology which it licenses to publishers for use in their products as well as
creating and publishing unique content. 
NanoTech Communications develops and sells proprietary apps and
technology in the Mobile and Consumer space. 
NanoTech is redefining the role of developers and manufacturers in the
global market. More information about NanoTech Entertainment and its products
can be found on the web at www.NanoTechEnt.com.

 

NanoTech Entertainment (PINKSHEETS: NTEK) trades on OTC
Pink, the open marketplace for a wide spectrum of equity securities. Investors
can find real-time quotes and market information at www.otcmarkets.com.

 

“Safe Harbor” Statement: Under The Private
Securities Litigation Reform Act of 1995: The statements in the press release
that relate to the company’s expectations with regard to the future impact on
the company’s results from new products in development are forward-looking
statements, within the meaning of the Private Securities Litigation Reform Act
of 1995.  Since this information may
contain statements that involve risk and uncertainties and are subject to
change at any time, the company’s actual results may differ materially from
expected results.

 

 

 

 

 


#  #

 

 

The NanoTech Entertainment logo is a trademark of NanoTech
Entertainment, Inc. All rights reserved. All other marks are the property of
their respective owners.  “The Future of Television” is a service mark of
NanoTech Entertainment, Inc., All Rights Reserved

 

 

Normal
0

false
false
false

EN-US
X-NONE
X-NONE

/* Style Definitions */
table.MsoNormalTable
{mso-style-name:”Table Normal”;
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-parent:””;
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin:0in;
mso-para-margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:10.0pt;
font-family:”Calibri”,”sans-serif”;}

This release includes additional documents. Select the link(s) below to view.

2013-01-25 – Buyback Phase 1.pdf

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/NTEK/news?id=57911

Leave a Reply

WP Facebook Auto Publish Powered By : XYZScripts.com
Bunk Beds