Syntec buys catalyst rights

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BY Michael Shirek

Posted Oct. 3, 2007, at 10:21 a.m. CDT

Vancouver, B.C.-based Syntec Biofuel Inc. has come to an agreement with Montilla Capital Inc. to purchase the rights to catalyst technology to convert biomass or syngas into alcohols such as ethanol, butanol, methanol and propanol. The agreement also includes Montilla's research and development assets.

Terms of the agreement include Syntec issuing 11 million shares and assuming liabilities not exceeding $350,000. The company's board of directors has approved the purchase.

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