Real Time Measurements

CALGARY, ALBERTA, CANADA, May 30, 2024 /EINPresswire.com/ -- Real Time Measurements Inc. (the "Company") announces today that, further to its news release dated April 23, 2024, it has closed the sale of all assets to ScarlettPL Tools Ltd. (the "Purchaser"), a private Alberta company (the "Vend-out Transaction"). The Purchaser acquired all assets related to the Company’s downhole pressure gauge business that are used in the oil and gas industry for $200,000 (CDN). The Vend-out Transaction was arm’s length.

After completion of the Vend-out Transaction, the Company has no assets other than cash. The Company will begin the process to complete a future share consolidation, name change, and preparation of updated financial statements to bring the Company into good standing with regulators (the "Reorganization"). It is expected that once the Reorganization is complete the Company will look to complete a transaction, reconstitute its Board of Directors and seek a listing on a Canadian stock exchange.

The Company wishes to express its thanks to all shareholders for their support and patience over the past several years.

For further information please contact:
Mr. Glenn Boyd, President
Real Time Measurements Inc.
Suite 113, 12111 – 40th Street SE
Calgary, Alberta T2Z 4E6
T: 403 720 3444
glenn@rty.ca

Glenn Boyd
Real Time Measurements Inc.
+1 403-720-3444
email us here

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