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Wuhan Blower Companies Go Public in Reverse Merger and Complete ...
WUHAN, China, Feb. 8 /PRNewswire/ -- United National Film Corporation ("UNFC") (OTC Bulletin Board: UNTF.OB - News) announced today the closing of a share exchange transaction which resulted in the parent company of Wuhan Blower Co., Ltd., a manufacturing company located in the People's Republic of China, going public by succeeding to UNFC's public company status. UNFC will change its name to Wuhan General Group (China), Inc. and intends to apply for listing on NASDAQ in the near future. UNFC's shares are currently listed on the Over- the-Counter Bulletin Board ("OTCBB") under the symbol "UNTF.OB". The companies will operate on a consolidated basis, executing upon the current business plan of Wuhan Blower and its subsidiary, Wuhan Generating Equipment Co., Ltd. Immediately following the consummation of the share exchange transaction, UNFC closed a private placement of its convertible preferred stock through which it received approximately $24 million in gross offering proceeds, before payment of commissions and fees.
City reinstates gas leaf blower ban
Palo Alto will once again crack down on gas-powered leaf blowers - at least for now. City Manager Frank Benest announced Monday that the police department had found a "creative solution," enabling it to enforce the ban on gas-powered leaf blowers. The City Council instituted the ban in residential areas in July 2005 following years of debate, but enforcement of it was scrubbed last week due to budget cuts. Police Chief Lynne Johnson said that starting next week, a parking enforcement officer will respond to leaf blower complaints. A part-time temporary officer will be hired to cover the parking enforcement position, she said. The officer taking leaf blower calls will respond first to areas with the most complaints. "We are still not responding to anything unless we get three independent complaints," Johnson said.
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