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Bestip Development International Limited Emerges as Publicly-Traded Company Through Closing of Reverse Acquisition of Wyoming Oil & Minerals, Inc.

Publication: Business Wire
Publication Date: 16-JUN-05
Format: Online
Delivery: Immediate Online Access

Article Excerpt
HONG KONG -- Bestip Development International Limited ("Bestip"), a designer and manufacturer of micro motors, today announced it has completed the closing of its reverse acquisition of Wyoming Oil & Minerals, Inc (OTCBB: WYOI), pursuant to which WYOI acquired all of the outstanding ordinary shares of Bestip in exchange for a controlling interest in WYOI. Through the reverse acquisition, Bestip will become a publicly-traded company.

Pursuant to a securities purchase agreement between the parties, the shareholders of Bestip have transferred to WYOI all of the outstanding capital shares of Bestip in exchange for WYOI's issuance of 28,000,000 shares of its common stock to the shareholders of Bestip (representing approximately...

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