Wolverine Technologies Corp. (OTCQB: WOLV) (“Wolverine”) has signed a Share Purchase Agreement with Dr. David Chalk, a director of Wolverine, whereby Dr. Chalk will invest, one-third of the net proceeds received by Dr. Chalk from the sale of Dr. Chalk’s 15% interest in Decision-Zone Inc. (“DZI”), in a private placement of 400,000,000 common shares of Wolverine. DZI is a potential acquisition target by a major technology company.
Overview of Decision-Zone Inc. and DZAudit
DZI is the leading developer of next generation cyber security and business efficiency technology. DZI developed and patented the DZAudit technology. The patent for DZAudit was issued on March 15, 2011, see link below this commentary. The patent explains that to detect anomalies, current approaches evaluate transaction data statistically and to validate whether the transaction is indeed anomalous requires significant storage, processing power and human resources. The new approach (DZAudit) audits events as they happen against the business process definition. Events that do not follow the right sequences and conditions of the process definition are identified to be anomalous. Current audit methodologies are not automated and have a big latency factor that precludes them from being used for real time transactional validation.
The proceeds from the sale of Dr. Chalk’s interest in DZI and subsequent private placement will be used by Wolverine to acquire and develop new leading edge technologies.
On behalf of the Board
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Notice Regarding Forward-Looking Statements
This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding the Share Purchase Agreement.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with technology development and difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
SOURCE: Wolverine Technologies Corp.