VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2012) - Summus Solutions N.V. ("Summus" or the "Company") (TSX VENTURE:SS) is pleased to announce that it has entered into an option agreement (the "Agreement") with World Wide Water Systems AG ("WWWS") and InnoCap Beteiligungen AG ("InnoCap") dated November 26, 2012. Pursuant to the terms and conditions of the Agreement, InnoCap has granted to Summus an option (the "Option"), exercisable by Summus at any time on or before June 30, 2014, to acquire 74.75% of the issued and outstanding shares of WWWS, being 134,550 ordinary shares of WWWS (the "WWWS Shares") for a purchase price of 450,000 Euros. Prior to exercising the Option, the Company would seek approval of the TSX Venture Exchange.
In consideration for the grant of the Option, the Company has paid 10,000 Euros to InnoCap.
WWWS is an internationally active company. WWWS has its headquarters located in Hamburg and maintains an operating location in Erftstadt. WWWS develops and sells water analysis appliances, water treatment and desalination plants. The object of the company is trading in goods of all kinds and especially trading and selling automatic water analysis equipment, water treatment and desalination plants and other technical appliances and equipment including import and export of such goods and plant as well as conducting all related business transactions; the development of automatic water analysis appliances, water treatment and desalination plant and the installation of such plant at home and abroad (plant construction); trading in machines, consumable and spare parts as well as maintenance, service and repair work of all kinds.
About the Company
Summus is a junior oil and gas exploration and production company focused on identifying and exploiting hydrocarbon opportunities.
On behalf of the Board of Directors
Urs Meisterhans, President
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.