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$AAO.ca Augusta Announces its Shareholders’ Meeting and Provides Sales Update

Posted by AGORACOM-Eric at 10:28 AM on Thursday, May 17th, 2018

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  • Marcon International Inc. sales orders of $612,000, with a backlog of $962,838.71
  • Shareholders’ meeting has been scheduled for July 11, 2018

Toronto, Ontario–(Newsfile Corp. – May 17, 2018) – Augusta Industries Inc. (TSXV: AAO) (the “Corporation”) is pleased to announce that it wholly owned subsidiary, Marcon International Inc. (“Marcon”), has entered into new agreements with various departments of the United States government for the supply of instrumentation and equipment. The aggregate value of the agreement entered into was $612,522.38. The current backlog of orders, including these new contracts, is $962,838.71 as of May 15, 2018.

“The Corporation is pleased to enter in these new contracts as it is a reflection of the continued efforts and hard work of the Corporation’s sales staff,” stated Allen Lone, President of the Corporation. “The Corporation’s sales efforts continues to result in increased sales and the Corporation will continue to focus on entering into additional contracts and developing additional relationships and opportunities with its existing clients.”

The Corporation also announces its shareholders’ meeting has been scheduled for July 11, 2018.

About the Corporation:

Through its wholly owned subsidiaries, Marcon, Fox-Tek Canada Inc. (“Fox-Tek”) and Paragon Blockchain Inc. (“Paragon”), the Corporation provides a variety of services and products to a number of clients.

Marcon is an industrial supply contractor servicing the energy sector and a number of US Government entities. Marcon’s principal business is the sale and distribution of industrial parts and equipment (Electrical, mechanical and Instrumentation.) In addition to departments and agencies of the U.S. Government, Marcon’s major clients include Saudi Arabia-Sabic Services (Refining and Petrochemical), Bahrain National Gas Co, Bahrain Petroleum, Qatar Petroleum, Qatar Gas, Qatar Petrochemical, Gulf of Suez Petroleum, Agiba Petroleum and Burullus Gas Co.

Fox Tek develops non-intrusive asset health monitoring sensor systems for the oil and gas market to help operators track the thinning of pipelines and refinery vessels due to corrosion/erosion, strain due to bending/buckling and process pressure and temperature. The Corporation’s FT fiber optic sensor and corrosion monitoring systems allow cost-effective, 24/7 remote monitoring capabilities to improve scheduled maintenance operations, avoid unnecessary shutdowns, and prevent accidents and leaks.

Blockchain technology has the potential to unlock substantial new opportunities capable of impacting the business of Marcon. Specifically, Marcon seeks to create an eco-system in the supply chain management of clients to change the dynamics of the scoping and bidding process by providing vendors and subcontractors with A.I. data mining tools to proactively drive the process. Blockchain technology is of critical importance to FOX-TEK as well particularly the expansion of its’ non-intrusive technology in the oil & gas industry, whose clients include many of the biggest companies in the world.

Corporation contact:

Allen Lone, President, CEO, Augusta Industries Inc.
Tel: (905) 275-8111 Ext 226, email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

$AAO.ca Augusta Industries Signs an NDA with Natural Resources Canada and a Term Loan Agreement with the Business Development Bank

Posted by AGORACOM-Eric at 3:04 PM on Monday, August 28th, 2017
Augusta Industries
  • (NDA) between Natural Resources Canada’s research laboratory and FOX TEK Canada Inc., a wholly owned subsidiary of Augusta Industries Inc
  • Allows for evaluation and exploration of confidential information relating to pipeline leak detection technology
  • Augusta subsidiary: Marcon International Inc. (“Marcon”), reached an agreement with the Business Development Bank and Signed a term loan for $250,000.00
Toronto, Ontario–(Newsfile Corp. – August 28, 2017) – Augusta Industries Inc. (TSXV: AAO) is pleased to announce that a two-way non-disclosure agreement (NDA) was signed between Natural Resources Canada’s CanmetMATERIALS research laboratory and FOX TEK Canada Inc., a wholly owned subsidiary of Augusta Industries Inc.

The NDA will permit FOX-TEK and CanmetMATERIALS to evaluate and explore confidential information relating to pipeline leak detection technology in order take the next step towards formalizing a collaborative working relationship between the parties.

CanmetMATERIALS conducts applied research, and develops and deploys technologies, to improve all aspects of producing and using value-added products from minerals and metals in collaboration with industry. Natural Resources Canada is the federal government department that seeks to enhance the responsible development and use of Canada’s natural resources and the competitiveness of Canada’s natural resources products.

We have confidence that this is a great stepping stone towards further collaboration between the Corporation and Natural Resources (” Canada”) stated Allen Lone, President of the Corporation.

Augusta Industries Inc is also pleased to announce that its wholly owned subsidiary, Marcon International Inc. (“Marcon”) has reached an agreement with the Business Development Bank (“Canada”) (“BDC”) and Signed a term loan for $250,000.00 The Loan is to fund future orders and contracts. The Loan is guaranteed by the company’s assets and Allen Lone personally. BDC is a Crown corporation and operates at arm’s length from the sole shareholder, the Government of Canada.

We are pleased with the BDC facility offered and its confidence in Marcon. This will allow the company to finance current and future contracts stated Allen Lone, President of the Corporation.

About the Corporation:

Through its wholly owned subsidiaries, Marcon International Inc. (“Marcon”) and Fox-Tek, the Corporation provides a variety of services and products to a number of clients.

Marcon is an industrial supply contractor servicing the energy sector and a number of US Government entities. Marcon’s principal business is the sale and distribution of industrial parts and equipment (Electrical, mechanical and Instrumentation.) In addition to departments and agencies of the U.S. Government, Marcon’s major clients include Sabic Services, BNGC, BAPETCO, Qatar Petroleum, QGas & Qatar Petrochemical.

FOX-TEK develops non-intrusive asset health monitoring sensor systems for the oil and gas market to help operators track the thinning of pipelines and refinery vessels due to corrosion/erosion, strain due to bending/buckling and process pressure and temperature. The Corporation’s FT fiber optic sensor and corrosion monitoring systems allow cost-effective, 24/7 remote monitoring capabilities to improve scheduled maintenance operations, avoid unnecessary shutdowns, and prevent accidents and leaks.

Corporation contact:

Allen Lone, President, CEO, Augusta Industries Inc.
Tel: (905) 275 8111 Ext 226, email: [email protected]

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

This press release contains forward-looking statements based on assumptions, uncertainties and management’s best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation’s periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.