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Dotronix to spin off wind power company
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Translate: FROM English | TO English
Dotronix, Inc. (OTCBB:DOTX) has decided to engage in the rapidly growing industry of generating electricity through wind power for commercial sale to one or more power utilities. We have completed substantial planning and conducted key meetings with various experienced industry sources to assist us with entering into this business. Our initial wind farm most likely will be constructed in a rural farm location somewhere near the border of Minnesota and the Dakotas. This region is one of the premier locations in the country for generating environmentally harmless “green” electricity from wind turbines. We have been considering certain selected sites in this area for our initial wind farm development. We anticipate our initial wind farm when completed will generate 20,000 to 25,000 megawatt hours (MWh) per year of electric power.
Due to the substantial and significant differences between the wind power business and the business of developing and marketing OTC healthcare products, we have decided to separate the two businesses totally through a spinoff distribution of the common stock of our PuraMed BioScience subsidiary to all Dotronix shareholders on a pro rata basis. We anticipate the record date for this spinoff will be on or about January l5, 2007, and that its effective date will be within 30 days thereafter. After this spinoff stock distribution is completed, there will be no further direct operational or management connection between or common to the two companies.
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