SOURCE: ProTek Capital, Inc.

November 14, 2013 08:30 ET

ProTek Capital, Inc. Plans Spinoff of Artfest International, Inc. and Dividend Issue of Artfest Stock to ProTek Shareholders

DALLAS, TX--(Marketwired - Nov 14, 2013) - ProTek Capital, Inc. (OTC Pink: PRPM) management met with attorneys and investors to develop plans for the spinoff of the Company's subsidiary, Artfest International, Inc.

ProTek acquired Artfest assets earlier this year. The acquisition was announced in June (

The Artfest assets will be spun-off within a newly organized subsidiary organization. Stock of the subsidiary will be issued to ProTek shareholders through a dividend distribution. Further details regarding the capital structure of the subsidiary to be spun-off and the timing of the spinoff and dividend are forthcoming.

The agenda of the management, attorneys and investors meeting this week include the development of plans for the disposition and spinoff of ProTek's other subsidiaries in conjunction with the Company's recent refocusing on the Clean Technology market sector. Several announcements regarding specific steps toward the Clean Technology sector have recently been released:

As details on the planned spinoff's and property dividends are worked out, ProTek intends to regularly issue shareholder updates regarding developments surrounding the new planed pursuit of the Clean Technology market and the corresponding anticipated spinoff of existing subsidiary operations.

About ProTek Capital, Inc.

ProTek Capital, Inc. has historically concentrated on acquiring a portfolio of unique and promising, high-growth potential companies. The portfolio industry focus has changed and evolved over time and the recently announced Clean Technology acquisition represents the next evolutionary step into a burgeoning market for low cost, high efficiency "greener" power-train systems.

Forward-Looking Statements: The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.

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