5BARz International has acquired a 60% controlling interest in Cellynx Group. 5BARz International is in the process of developing the global commercialization of a patented product technology branded under the name 5BARz™.
5BARz International Inc. (OTCBB: BARZ), (Boerse-Berlin: O5B), (www.5BARz.com) (hereafter “5BARz” or the “Company”) and Cellynx Group, Inc. (OTCBB: “CYNX”)(hereafter “Cellynx”) announce that on March 28, 2012, 5BARz International Inc. has acquired a 60% controlling interest in Cellynx Group, Inc.
5BARz International Inc. completed the acquisition of Cellynx Group, Inc. shares pursuant to a January 7, 2011 agreement with the founding shareholders of Cellynx. In addition, the Company converted certain debts provided to Cellynx Group, Inc. into share capital.
Over the past several years the Companies operated under a set of agreements, comprised of an Asset Purchase Agreement, Revolving Line of Credit Agreement and a Master Global Marketing and Distribution Agreement. These agreements have been amended (see 8K filed at www.sec.gov), to finalize asset ownership, define operating parameters, and address the funding of the Cellynx net liability position.
Mr. Daniel Bland, President and CEO of 5BARz International Inc., states, “The Management and Directors of both 5BARz International Inc. and Cellynx Group, Inc. consider the actions that we have taken in consolidating the operations of these two entities to be a substantive business development that will streamline the business of the Companies. In our opinion, this consolidation of ownership and objectives will serve to accelerate the global deployment of the 5BARz technology as we continue to implement our business plan with the main goal of increasing shareholder value.”
About 5BARz International Inc.
5BARz International Inc. along with its consolidated subsidiaries are in the process of developing the global commercialization of a patented product technology branded under the name 5BARz™.
5BARz™ is a cellular network infrastructure device for use in the small office, home and mobile market places. 5BARz™ incorporates a patented technology to create a highly engineered, single-piece, plug ‘n play unit that strengthens weak cellular signals to deliver high quality signals for voice, data and video reception on cell phones and other cellular equipped devices. 5BARz™ represents a key solution for cellular network operators in providing clear, high quality signal for their subscribers with a growing need for high quality connectivity.
5BARz International Inc.’s shares are publicly traded on the OTCBB under the ticker symbol BARZ in the US and on the Berlin Stock Exchange under symbol “O5B.”)
Cellynx Group, Inc. shares are publicly traded on the OTCBB under the ticker symbol “CYNX”.
On behalf of the Board of Directors
“Mr. Daniel Bland” CEO & Director
5BARz International Inc.
“Mr. Norm Collins” CEO & Director
Cellynx Group, Inc.
Legal Notice Regarding Forward-Looking Statements
The information contained in this release consists of forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Such forward — looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to product development, marketing, market acceptance, future capital requirements, and competition in general that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward — looking statements whether as a result of new information, future events or otherwise.