SOURCE: W Technologies, Inc.

September 17, 2014 08:30 ET

W Technologies, Inc. Agrees to Sell Joint Venture With 1World Direct Hong Kong to Health Med Services, Ltd.

HUNTINGTON BEACH, CA--(Marketwired - Sep 17, 2014) - W Technologies, Inc. (PINKSHEETS: WTCG) announced today that it has agreed in principle to sell its Joint Venture with 1World Direct Hong Kong to Health Med Services, Ltd., (PINKSHEETS: HEME) for ten million shares of common stock of Health Med Services, Ltd.

Gary Koelsch, President of W Technologies, stated, "1World Direct of Hong Kong has several pending acquisitions, and joint ventures with other companies in the health and medical services business, and is expanding its network worldwide. In the best interest of W Technologies and its shareholders, we have decided to accept the offer from Health Med Services, Ltd. and sell our interest in the Joint Venture to them. The Health Med Services stock which will be issued to W Technologies, will be held by our corporate counsel until such time the transaction is closed and all the required reporting and filings have been completed. W Technologies will then distribute the Heath Med Services stock to its shareholders of record as an in-kind stock dividend. The closing date and shareholder of record date will be announced at a later time." 

Bruce Jay Howe, the new President of Health Med Services, said, "We know there is a lot of work to do in order to bring Health Med Services Ltd., back to the status of a full reporting company. However, with the guidance of our attorneys, accountants, and others, we look forward to the challenge, and to move forward with all the required and necessary filings as soon as we can. The 1World Direct JV the company is acquiring has a lot to offer Health Med Services in the way of new business, ideas, and technologies required to meet the growing and challenging needs for the worldwide health and medical services industry." 

About W Technologies, Inc.

W Technologies, Inc., whose stock is publicly traded under the symbol WTCG, is a diversified holding company with the mission to develop, manage and finance emerging companies. W Tech will be involved in the development of new social media and digital advertising technologies, new environmentally-safe oil and gas recovery technologies, new clean water technologies, and financial services involving residential and commercial real estate. The Company expects to bring a paradigm shift in the use of these new technologies in the respective business sectors and to develop new methods to finance its affiliated companies. Through its subsidiaries and affiliates with their experienced personnel, W Tech will seek to grow through acquisitions, joint marketing arrangements and organic growth in emerging markets.

Precautionary and Forward-Looking Statements
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude or risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's disclosures or filings with OTC Markets, Inc. You are further cautioned that stocks of smaller companies like W Technologies, Inc. are inherently volatile and risky and that no investor should buy this stock unless they can afford the loss of their entire investment.

Contact Information

  • Contact:
    W Technologies, Inc.
    Investor Relations
    800-850-9601