China Youth Media, Inc. (CHYU) surges on news of merger
Posted on: June 27th, 2011Written by:
China Youth Media, Inc. (OTCBB: CHYU) shares leaped 44.4% to 1.3 cents on word of a merger with Midwest Energy Emissions Corp. (ME2C), a North Dakota corporation, the result of which ME2C has become a wholly-owned subsidiary of CHYU. Share volume topped 789,000, compared to an all-day average of less than 18,000.
By virtue of the merger, all of the outstanding shares of common stock of ME2C have been converted into shares of Series B Convertible Preferred Stock of CHYU so that the shareholders of ME2C will upon conversion of the merger shares own 90.0% of CHYU’s issued and outstanding capital stock as of the closing date after giving effect to the merger.
In the June 27 press release announcing the merger, newly-minted China Youth Media CEO John Norris declared, “We are extremely pleased to have completed this important step in our corporate development. We are now looking forward to aggressively deploying our field proven and patented technology throughout the world.”
ME2C develops and delivers patented, cost effective mercury capture systems and technologies to power plants and other coal-burning units in the United States and Canada.
China Youth Media, Inc. is a China-focused youth marketing and media company whose business is to deliver advertising and content to one of the most sought after and fastest growing demographics in the world.
