SOURCE: Microelectronics Technology

August 03, 2011 13:40 ET

Microelectronics Technology Co. Enters Into Letter of Intent

MONARCH BAY, CA--(Marketwire - Aug 3, 2011) - Microelectronics Technology Co. (PINKSHEETS: MELY) (hereafter "The Company" ) is pleased to announce that it has entered into a letter of Intent for the purchase of all of the existing outstanding shares of Cloud Data Corporation.

The terms and condition of the share exchange have been finalized and the closing is subject to certain due diligence to be completed over the following weeks. It is anticipated that the transaction will close and be effective August 26, 2011.

Further details regarding the transaction and the various Internet assets that Cloud Data Corp currently owns and operates, as well as the projects under development, will be made available upon completion of the due diligence period.

Cloud Data Corp is a full service Internet applications incubator within the cloud computing sector.

Legal Notice Regarding Forward-Looking Statements
Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward-looking statements are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions or that events or conditions "will," "would," "may," "can," "could" or "should" occur.

Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors such as the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain permits, potential delays or obstacles in operations and interpreting data, the likelihood that this business model business is not successful. Additional information on risks for the Company can be found in the Company's periodic filings filed from time to time with US Securities and Exchange Commission at

This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). They may not be offered or sold in the United States (as defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act.

Contact Information

  • For further Information:
    Microelectronics Technology Co.
    Mr. Edward Manetta
    1 866 587 2860