Exhibit 99.1
LETTER OF INTENT TERMINATED BETWEEN MERCURY WASTE SOLUTIONS AND ENVIRONMENTAL
TECHNOLOGIES CORP.
Mankato, Mn - October 10, 2000
EVTC, Inc, t/a Environmental Technologies, Corp. (NASDAQ: EVTC) and Mercury
Waste Solutions, Inc. (NASDAQ: MWSI) jointly announced the termination of a
letter of intent whereby EVTC had agreed to purchase a controlling interest in
MWSI through a friendly tender offer to acquire up to a maximum of 70% of MWSI's
outstanding shares. The letter of intent was terminated primarily due to EVTC's
inability to raise the required capital following the dramatic drop in the per
share price of its common stock and other disagreements on the terms of the
tender offer. There are currently no future discussions planned between EVTC and
MWSI.
EVTC, through its wholly-owned subsidiaries engages in the marketing and sale of
refrigerants, refrigerant reclaiming services, recycling of flourescent light
ballasts and lamps and, through e-solutions, inc., directly markets business to
consumer services via the internet.
MWSI provides mercury waste recycling services. The Company has sales and
processing facilities in Union Grove, WI, and Roseville, MN; sales and storage
facilities in Marietta, GA and Indianapolis, IN; storage facilities in Albany,
NY and Kenosha, WI; and corporate offices in Mankato, MN.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: Certain statements contained in this press release are "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements are subject to risks, uncertainties and
other factors that could cause actual results to differ materially from future
results expressed or implied by such forward-looking statements. Investors are
cautioned that any forward-looking statements are not guarantees of future
performance and involve risks and uncertainties and that actual results may
differ materially from those contemplated by such forward-looking statements.
CONTACT: EVTC, Inc. t/a Environmental Technologies, Corp.
Investor Relations
Phone (817)282-0022
Fax (817)282-0033
[email protected]
Mercury Waste Solutions, Inc.
Todd J. Anderson, CFO
Phone (507)345-0530
Fax (507)345-4149
Page 5 of 5
