09.02
Toronto, Canada, September 2, 2010 — NW Tech Capital (NWTT; http://www.nwtechcapital.com)
Bermal Contracting is a Canada based company focusing on quarrying a high quality stone in British Columbia, Canada. Bermal is an operating subsidiary of NWTT. The company is aware that its share price is in peril, and is currently investigating the causes of this.
The company takes this matter quite seriously, and will engage an investigator, a forensic accounting, and discussions with ex-management to ascertain as to what amount if any shares and whom were issued prior to the merger of NWTT and Bermal. The company confirms that it is not deluding, and it is hopeful that the current downward share price that NWTT is experiencing is a temporally one, and the situation will rectify shortly.
On the day-to-day operations side, current Bermal day-to-day operations offer solid revenues, assets and operations. Company expansion plans include start of production of stone and pallets of varying size that will be sold directly to medium and high-end landscapers. At this time, the company is investing in equipment in order to start this expansion with a launch target date of mid- late 2011.
The company intends to keep its shareholders advised of any progress via its IR Company, postings and filings on both SEC, EDGAR filing system, and on Pink Sheets filing system. More updates will be made available as they crystallize. The company is taking this matter quite seriously.
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