Beverly Hills, Calif., June 8, 2020 – W Technologies (WTCG Pink) decides not to move forward with assignment of an LOI to distribute medical devices after careful consideration and due diligence.
On April 20, 2020, W Technologies Inc. [ “Company”] announced that it had been assigned a Letter of Intent (LOI) for the exclusive and global rights to a proprietary technology designed to remove viruses.
After extensive and very careful due diligence of the German company warranting the technology of the devices, The Company has decided not to proceed with the deal and has terminated the LOI.
The Company is now exploring other opportunities and will update shareholders in a timely fashion.
About W Technologies Inc. (WTCG – Pink)
W Technologies is an investment company that seeks to enhance shareholder value over the long term by opportunistically making various investments in manufacturing and production facilities.
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