Imagin Molecular Corp. Acquiring Planet Green Bottle

Imagin Molecular Corp. (IMGM), Chicago, has agreed in a letter of intent to issue 49 percent of the post capitalization of the company in exchange for 84,000,000 Indiana-based Positron Corp.’s common shares plus 100 percent of the equity of the Planet Green Bottle.

All IMGM shares are to be distributed to shareholders or affiliates of Planet Green. Certain Planet Green shareholders have agreed to accept IMGM Preferred Shares which will be convertible into IMGM common shares only if the new company is successful in achieving milestones of revenue of at least $10, $25, $50 and $100 million a year over the next seven years.

Directors of Imagin have agreed to recommend a name change of IMGM to Planet Green BioTechnology, Inc. Meanwhile, Imagin will increase its position as a major shareholder of Positron Corp.

Planet Green Bottle Corp. is negotiating to acquire proprietary additives defined as oxo-biodegradable technology that, triggered by oxygen and UV light, can cause the 500 billion PET plastic bottles made annually to biodegrade in a fraction of the estimated 1,000 or so years estimated generally. Separately Planet Green plans to develop of its own next generation biodegradable additive for PET plastic bottles and containers.

A Planet Green Bottle affiliate financed the development by Wells Plastics of an oxo-biodegradable PET plastic bottle.

"Planet Green is experiencing a wave of interest around the world. Planet Green's proprietary additive branded Reverte can be used in any and all of the 500 billion PET plastic bottles being sold a year, 75 percent of which are not being recycled. Planet Green is a unique clean tech company in that is targeting to become a solution to breakdown the plastic bottle back to CO2 and biomass,” said Nick Haverecroft, CEO of Planet Green.

Planet Green is particularly focused on China where it has a joint venture agreement with the Chinese plastics firm Fuli, which has agreed to finance the joint venture expansion across China.

Separately Planet Green is identifying and negotiating with chemical compounding firms to develop the next generation of additive to enhance current oxo-biodegradable technology Planet Green intends to continue to promote its Planet Green logo as a brand enhancer for consumer branded products."