San Jose, CA– June 11, 2009– NANOTECH ENTERTAINMENT (OTCBB:NTEK) today announced it has completed its merger with Aldar Group, Inc, a publicly traded company. The merged entity, which will be operating under the NanoTech Entertainment name, has been granted an updated symbol for its Over the Counter Bulletin Board (OTCBB) Listing. The new symbol, NTEK, reflects the operations new NanoTech Entertainment name. The company will focus on delivering next generation entertainment products utilizing the company’s innovative software and hardware technology for consumer and arcade gamers worldwide.
Leveraging his over 27 years in Gaming and Entertainment, Robert DeKett will lead NanoTech as the President and Chief Executive Officer. Mr. DeKett helped revolutionize the arcade industry by creating the first touch screen countertop arcade machine. Entrepreneur David R. Foley joins the company as Chief Operating Officer. Mr. Foley has developed entertainment software and hardware for over 20 years and is credited with designing several award winning gaming products. Rounding out the NanoTech executive team is Aldar executive, Ken Liebscher, who will serve as Chief Financial Officer. All three individuals form the Board of Directors for the newly merged company.
“NanoTech Entertainment is now in a position of strength to continue to meet our objectives of releasing new and innovative products for the consumer and commercial gaming markets,” stated DeKett.“We believe that the OTC Bulletin Board ( www.otcbb.com), where the securities of more than 3,500 issuers trade, offers our investors the opportunity to buy and sell our shares on a widely recognized, regulated quotation system. More importantly, it is a step closer for NanoTech Entertainment toward seeking a listing of our common stock on the NASDAQ exchange in the future."
About NanoTech Entertainment
Headquartered in San Jose, California, NanoTech Entertainment is a technology company that has a unique business model operating as a virtual manufacturer. NanoTech develops its technology and games, and then licenses them to third parties for manufacturing and distribution in order to keep its overhead extremely low and operations efficient in the new global manufacturing economy. With an ever-expanding lineup of technology and products, NanoTech is redefining the role of developers and manufacturers in the globalgaming market. More information about NanoTech Entertainment and its products can be found on the web at www.nanotechent.com.
"Safe Harbor" Statement: Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.
# # #
The NanoTech Entertainment logo, Xtreme Rally Racing, MultiPin and NanoNET are trademarks of NanoTech Entertainment, Inc. All rights reserved. All other marks are the property of their respective owners.