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GREM USA (the "Company") (OTCBB: GRUS). Edward Miers, President and CEO, announced today that GREM USA has entered into negotiations to acquire Nanogold Corp., a Canadian R&D corporation specializing in Nano Gold Technology. Nanogold Corp. is presently involved in a joint venture with a prominent Chinese University to develop Nano Metal Applications.
Nanogold Corp. is developing chemical processing for the production of Nanoscale Gold Powder. The research team at the Chinese University has several years experience in chemical processing for the production of nanoscale metals and oxide powders. They have successfully produced nanoscale powders of Ag, Ni and numerous oxides such as Fe(2)O3, CuO, ZnFe(2)O4. Based on the investigation of their literature and their research experience, it is possible to make nanoscale gold powder by means of their chemical processing.
The properties of "nanogold," or gold particles are so tiny -- containing hundreds or even tens of atoms -- they must be measured in nanometers. (One nm is equal to one one-billionth of a meter.) As is true with other materials, gold in "nano" form exhibits significantly different properties from bulk gold. As is known, normal bulk gold is shinny, gold in color, and inert, as well as it conducts electricity. However, if gold is shrunk to a nanoparticle, its properties change dramatically. Its color changes, it becomes a very good catalyst, and it turns into a high performance semiconductor.
The unique properties of gold at the nanoscale are ensuring that gold is the candidate material for nanotechnology applications in the diverse areas of electronics, catalysis, colors and coatings and the biomedical sector. Specific examples of technologies considering or already using gold are listed below as follows:
-- Low resistance printable gold nanoparticulate inks for flexible
-- Gold nanowires for interconnections in future leading edge electronic
-- Nanoparticulate gold colloid for rapid tests and biomedical assays
-- Gold-silica nanoshells for targeted destruction of cancer cells
-- Improved decorative coatings using thiol stabilized gold nanoparticles
-- Thermosetting gold nanoparticle containing paints exhibiting novel
-- Nanoparticulate gold catalysts for pollution control and chemical
-- Fuel cell electrocatalysts based on carbon supported nanoparticulate
In each case, major industrial end-users are pursuing the development of these technologies. It is considered that gold will be a key material in many future nanotechnology based products and processes.
Nanogold Corp. believes it will be in position to supply Nano Gold Powder to the emerging Industries utilizing the nano gold in the development of new products.
GREM USA contemplated and compelling objectives with this anticipated acquisition are to work with Nanogold Corp and the prominent Chinese University in the development of Nano Gold Powers utilizing proprietary chemical processes; once fully developed, patent protection will be sought.
The management of both GREM USA and Nanogold Corp., as part of their due diligence process, will be traveling to China in the near future to finalize this joint venture with the Chinese University for this new and innovative technology.
About GREM USA
GREM USA is a development stage company focusing on design and manufacturing of custom hand crafted and mass-produced electric guitars.
This press release contains certain "forward-looking" statements as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements which are not historical facts, are forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties. There can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to the Company's ability to consummate and complete operations, the Company's access to future capital, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors that may be identified from time to time in the Company's public announcements. The Company undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
This press release is provided for information purposes only and is not intended to constitute an offer to sell or a solicitation of any offer to buy securities.
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