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Americas Wind Energy Corp. and Emergya Wind Technology Holdings (EWT) have entered into a letter of intent for EWT to acquire all issued and outstanding shares of Americas Wind Energy in a cash merger transaction.
The transaction is subject to EWT's due diligence and a definitive merger agreement, Americas Wind Energy stockholder approval and third party and regulatory approval. EWT will control the exclusive right to manufacture, distribute and sell the Directwind turbine product line in North America. Americas Wind Energy had licensed those rights since 2004. Americas Wind Energy is based in Toronto, Ontario, Canada and EWT has its headquarters in the Netherlands.
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