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VeruTEK Technologies, Inc. Completes Acquisition of
Publicly Traded Streamscape Minerals, Inc.
Glastonbury, Conn. - May 17, 2007 - VeruTEK Technologies, Inc.
announced today that it has completed its acquisition of publicly traded
Streamscape Minerals, Inc. (SSMI.OB). The merged entity will operate
under the name VeruTEK, Inc. and will trade on the Over-the-Counter
Bulletin Board ("OTCBB") under its new ticker symbol VTKT.OB.
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VeruTEK has developed several new, patent-pending, green
nanotechnologies that remedy environmental contamination, especially at
complex waste sites, eliminating the need for costly excavation and
minimizing the impact to the surrounding community.
The environmental remediation market is estimated at $20 Billion
annually (USEPA 2004). Government mandated corporate reserves for
remediation often exceed $100M and can exceed $1000M (SEC 2006).
VeruTEK's turnkey, in-place solution remedies soil contamination from
petroleum, chlorinated solvents, pesticides, herbicides, PCBs, dioxin,
and other toxic chemicals. The Company is currently working on projects
in multiple countries and expects to enter the $2.0 trillion distressed
(contaminated) real estate market (National Brownfield Association 2006)
in Q4 2007.
VeruTEK's management team is comprised of seasoned scientists and
engineers with decades of experience studying subsurface remediation and
consulting for Fortune 500 companies and federal government agencies
About VeruTEK Technologies, Inc.
VeruTEK (VTKT.OB) provides proprietary, patent-pending, green
nanotechnology solutions for cleaning up the environment. For more
information, please visit
www.verutek.com.
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Safe Harbor Statement
The statements contained herein, which are not
historical, are for ward-looking statements that are subject to risks
and uncertainties that could cause actual results to differ materially
from those expressed in the forward-looking statements including, but
not limited to, certain delays beyond the Company's control with respect
to market acceptance of new ?technologies, products and services, delays
in testing and evaluation of products and services, and other risks
detailed from time to time in the Company's filings with the Securities
and Exchange Commission.
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