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VT International Corp. (the "Company") announced today that it has completed its acquisition of Nanotailor, Inc., a Delaware Corporation ("Nanotailor"), effective April 30, 2008 in a stock-for-stock, tax free exchange transaction. Nanotailor licensed the rights to a manufacturing process to create Single-Walled carbon nanotubes developed at the National Aeronautical and Space Agency ("NASA") Goddard Space Flight Center. The inventor of that process retired from NASA and is now employed exclusively by Nanotailor. Carbon nanotubes ("CNTs") are nanoscopic building blocks comprised of geometrically aligned carbon atoms, which give the CNTs their extraordinary properties. Of all CNTs, Single-Walled CNTs have superior mechanical, electrical, and thermal properties that lend themselves to wide array of applications and industries. "We believe the acquisition of Nanotailor will bring good value to our shareholders. We are excited about Nanotailor's potential," commented Michael S. Williams, President of VT International Corp., who resigned effective with the closing of the acquisition. "We also believe Nanotailor's technology has potential across multiple industries. With their advantages, we believe Nanotailor has the opportunity to really stimulate the development of exciting leading edge technologies."
The Nanotailor management team is working diligently to trade on the public markets within the foreseeable future. Next week, VT International Corp. expects to file Articles of Merger in Arizona and Delaware to merge with and into a new Delaware corporation with the purpose of carrying on the Nanotailor name ("New Nanotailor"). Upon acceptance of the filings, New Nanotailor will be the Surviving Corporation domiciled in Delaware but will continue the Company's capital structure. Company shareholders may, but will not be required, to exchange their Company shares for New Nanotailor shares. New Nanotailor will also be seeking stockholder approval to affect a reverse stock split of its common stock outstanding. Peacock, Hislop, Staley & Given, Inc., a Phoenix, Arizona-based licensed broker-dealer has agreed to file a Form 211 with the Financial Industry Regulatory Authority to seek trading of Nanotailor's common stock. Upon completion of an audit, expected within 30 days, Nanotailor will then file a Form 10 Registration Statement with the Securities and Exchange Commission to become a fully reporting company.
"This is really an exciting time for us. We believe we have the right team, the right technology, and the right market opportunity to be successful," commented Ramon Perales, President and CEO of Nanotailor and now the Chief Executive Officer of the Company as well. "Having access to public capital will further assist us in solidifying relationships we have been courting with global companies and government organizations and accelerate our commercialization plans."
Further details regarding Nanotailor becoming a publicly traded company will be posted on Nanotailor's website, www.nanotailor.com, as more information becomes available.
About VT International Corp.
VT International Corp. was formed in 2004 to implement a reorganization plan of Visitalk.com, Inc. The Company's business plan became obsolete due to technical developments and so the Company has been looking for new growth opportunities.
About Nanotailor, Inc.
Nanotailor, Inc. is a nanomaterials company focused on the manufacturing of Single-Walled carbon nanotubes based upon technology that the Company has licensed from NASA's Goddard Flight Space Center. Nanotailor's Single-Walled carbon nanotubes are manufactured without the use of a metal catalyst and are functionalized upon formation. The inventor of the technology works exclusively for Nanotailor. Nanotailor was founded in March of 2007 and its corporate headquarters are located at 701 Brazos, Suite 500, Austin, Texas 78701. Nanotailor's phone number is (512) 334-6064.
Forward Looking Statements. Certain matters discussed within this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be attained. Such statements are inherently uncertain, and actual results and activities may differ materially from those estimated or projected. Certain factors that can affect the Company's ability to achieve projected results include, among others, uncertainties inherent in Nanotailor's business and limited capital. The Company has no obligation to update the statements contained in this release or to take action that is described herein or otherwise presently planned.
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