Allman Technologies Inc.

February 20, 2009 16:49 ET

Allman Technologies Withdraws from Capital Pool Program

TORONTO, ONTARIO--(Marketwire - Feb. 20, 2009) - Allman Technologies Inc. announces that due to adverse market conditions it will not be completing its proposed initial public offering. The Company has received consent of the TSX Venture Exchange to withdraw from the Capital Pool Program and has terminated its agency agreement with Blackmont Capital Inc. In addition, the Company has terminated the escrow agreement relating to 1,250,000 common shares, entered into with its shareholders and Olympia Transfer Services Inc.

The Company and its shareholders will review various strategic options available to the Company, which may involve a merger, acquisition or sale of the Company, with a view to maximizing shareholder value.

Shares Outstanding: 1,250,000

Contact Information

  • Allman Technologies Inc.
    Mr. Chris Irwin
    Chairman
    (416) 361-2515