CALGARY, ALBERTA— M.P. Technologies, Inc. and Guest-Tek Interactive Entertainment Ltd. have entered an agreement through which MPT will be able to obtain a controlling interest in Guest-Tek and provide for an optional liquidity event for existing Guest-Tek shareholders. According to Guest-Tek’s President/CEO, Arnon Levy, MPT’s ownership of Guest-Tek common shares will make it easier for Guest-Tek to enter certain international markets, particularly Asia. By the end of April, Guest-Tek plans on making an issuer bid for a maximum of 2.5 million common shares at a price of $6.50 per share. The offer price under the issuer bid represents a 44% premium to the 20-day average closing price of the common shares as of Jan. 5. Following the issuer bid, MPT will purchase— through a private placement from Guest-Tek’s treasury— the shares tendered to the issuer bid, but no more than two million common shares at $6.50 a share.
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