Spring Creek Capital Corp. (SCRK.OB) Disposes of their Eco Blends, Inc. Shares in Exchange for Royalty-Free Perpetual License
Yesterday, Spring Creek Capital Corporation announced the sale of their 30 percent interest in Eco Blends, Inc. through a termination agreement executed May 21, 2010. The termination agreement calls for Spring Creek to sell their shares of Eco Blends, Inc. This is in addition to withdrawing their representative from the Eco Blends, Inc. Board of Directors as well as terminating their existing consulting and investment agreements with Eco Blends, Inc. Eco Blends, Inc., in exchange, granted to Spring Creek a royalty-free, perpetual, transferrable license to use all formulations of the patent-pending, DEET-free insect-repellent developed by Eco Blends, Inc. The insect-repellent…