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nCoat, Inc. (OTCBB: NCOA) ("nCoat" or the "Company") formerly Tylerstone Ventures Corporation (OTCBB: TYLV) today announced that the Company will henceforth operate under the name nCoat, Inc., which best reflects management's current strategic outlook and planning.
The name change became effective when Tylerstone acquired all issued and outstanding shares of nCoat Automotive Group, Inc. nCoat intends to focus on the implementation of its business plan, concentrating on the development of proprietary nanotechnology coatings formulations into commercially viable nano-formulated coatings and materials in multiple industries including the automotive, diesel engine and aerospace industries.
The general global coatings industry is a long-established, $30 billion market with multiple competitors. The competition in the high performance coatings industry, a market segment of more than $2 billion in annual revenues, is characterized by hundreds of small privately owned coatings companies with market share in several market segments.
Management plans to fund the acquisitions of profitable high performance coatings (surface treatment) companies from within the current highly fragmented cottage industry environment and to provide operating and expansion capital for growth of those acquisitions. After acquisition, the Company will introduce new nano-formulated coating into the acquired product mix, thereby raising performance of the coatings leading to increased marketshare.
About Tylerstone Ventures Corp.
The Company currently operates two wholly owned subsidiaries:
(1) High Performance Coatings, Inc. ("HPC"), a 25-year-old Oklahoma company that was founded on the sales of thermal barrier, corrosion resistant, lubritic and appearance high performance coatings for the motor sports industry. nCoat has expanded HPC's market-base to include manufacturers of commercial trucks, RVs, defense applications, motorcycles, aerospace components, aviation parts, oil and gas industry suppliers, energy producers and other sophisticated users, while continuing to provide coatings and services to the after-market customer.
(2) nTech, Inc. ("nTech"), a Delaware corporation that is a wholly owned subsidiary of nCoat, designated to develop and hold proprietary intellectual property for the group and develop licensed coatings facilities on-site at their customers manufacturing plants.
nCoat will operate nTech, High Performance Coatings, Inc., and other future acquisitions to develop, integrate and sell commercially viable proprietary nano-formulated and traditional coatings products.
Further information will be released in the upcoming weeks as available. The name change and new business direction is effective immediately.
Except for statements of historical fact, the information presented herein may contain forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which nCoat, Inc. and Tylerstone Ventures Corp. has little or no control.
ON BEHALF OF THE BOARD
Paul Clayson, Chief Executive Officer
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Investor Relations Contact:
Bakerview Investor Relations Inc.
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