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Adama Technologies Corp. (OTC:ADAC) Addresses Caveat Emptor Status on OTCMarkets.com
06/01/2018 | 03:04pm EST
LAS VEGAS, June 01, 2018 (GLOBE NEWSWIRE) -- Via OTC PR Wire – Adama Technologies Corp. (OTCPINK:ADAC) announced today that OTC Markets Group has made the Company aware of promotional activity regarding its shares and designated ADAC shares as “Caveat Emptor”.
On May 23, 2018 OTC Markets informed the Company via email that it became aware of certain promotional activities concerning ADAC and its common stock which were encouraging investors to purchase shares via an unsolicited email campaign by a source unknown to the Company. The Company has been informed that this promotional activity may have had a material effect on the trading activity and market for the Company's stock. Until informed by OTC Markets, the Company was unaware of the promotional activity and remains unaware of the full nature and content of this activity, the extent of the dissemination or the parties involved. OTC Markets has designated a Caveat Emptor on the stock for a minimum of 30 days, at which point we will be eligible for review.
"The Company would like to emphatically state to its shareholders and the general investing public that neither Adama Technologies Corp.., nor any member of its management team has ever initiated or participated in any promotion or awareness program for its common stock. Furthermore, neither the company nor any member of its management team authorized any third party to engage in any promotion or awareness program on the Company's behalf. Adama Technologies Corp. will fully comply with OTC Markets' policies regarding fraudulent promotional activity and will correct and dispel any misleading information that the Company becomes aware of. We look forward to curing this issue in the most expeditious manner possible."
Additionally, the Company has stated that they are very diligently working to complete their required financial filings and disclosures and will absolutely be making those filings and fully intend to be current in their financial reporting requirements moving forward.
The Company encourages those interested in the Company to rely solely on information provided directly from the Company via its official website, social media accounts, and press releases which can be found on the OTC Disclosure and News Service.
About Adama Technologies Military Defense Operations
Adama Technologies completed the acquisition of Alpine Industries in November of 2016. Alpine Industries is a precision machining and aerospace manufacturing company. Since its inception in 1974, Alpine has manufactured several hundred aerospace landing gear components and other spare parts. Alpine continues to work as a US government contractor and currently holds over 15 US Military contracts with the majority of them with the US Air Force. Presently, Alpine manufactures such items as M1 Mine Clearing Blades, hypo-chlorination units, tow bridles, 60 ton jacks for the C5A, AIM-9 missile body trainers, numerous bolts and screws, drag links for the F-16 fighter planes, and many other landing gear parts. In addition to the US military, Alpine also manufactures parts for several private companies including parts for drilling components used in oil and water wells, roller-coasters, motorcycles, zip line parts, crash pads, and drilling carts.
Contact Information: Address: 1000 N. Green Valley Suite 380 Henderson, NV 89074 Phone: (866) 859-8697 Website: www.AdamaTechnologies.com
Disclaimer This release contains forward-looking statements that are based on beliefs of Adama Technologies Corp. management and reflect Adama Technologies Corp.'s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities and Exchange Act of 1934, as amended. When we use in this release the words "estimate," "project," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," "can," the negative of these words, or such other variations thereon, or comparable terminology, are all intended to identify forward looking statements. Such statements reflect the current views of Adama Technologies Corp. with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance, or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements. The information contained in this press release is historical in nature, has not been updated, and is current only to the date shown in this press release. This information may no longer be accurate and therefore you should not rely on the information contained in this press release. To the extent permitted by law, Adama Technologies Corp. and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission. This press release incorporates by reference the Company's filings with the SEC including 10K, 10Q, 8K reports and other filings. Investors are encouraged to review all filings. There is no assurance Adama Technologies Corp. will identify projects of merit or if it will have sufficient financing to implement its business plan. There is no assurance that the Company's due diligence on the potential acquisition of oil and gas assets will be favorable nor that definitive terms can be negotiated. Information in this release includes representations from the private companies referred to which has not been independently verified by the company. A downturn in oil prices would affect the potential profitability of the proposed acquisition negatively.