CMSF merges with Plures Technologies

SIMI VALLEY, USA: CMSF Corp. has no significant operations. Its stated purpose has been to seek a merger with an operating company. CMSF announced that it has entered into such an agreement to merge with Plures Technologies Inc. Plures, through its 95 percent-owned subsidiary, Advanced MicroSensors Corp., is a semiconductor foundry with unique expertise and capabilities to develop and fabricate high-quality, high-margin micro-electro-mechanical-systems (MEMS) and spintronics solutions.

On May 23, 2011, RENN Universal Growth Investment Trust PLC and RENN Global Entrepreneurs Fund, Inc. purchased $1,500,000 and $500,000 Plures promissory notes, respectively. At the same time, CMSF agreed to a merger with Plures. The merger will be consummated in the coming months. Simultaneous with the consummation of the merger, RENN Universal and RENN Global will convert their debt to equity in the combined Plures-CMSF entity, which will be called Plures Technologies, Inc.

After the closing of the merger (and upon conversion of debt to equity), 72.5 percent of the combined entity’s outstanding common stock will be owned by the current stockholders of Plures, 20.5 percent of the stock will be owned by RENN Universal, 6.8 percent will be owned by RENN Global and 0.2 percent will be owned by existing CMSF shareholders unrelated to Plures, RENN Universal or RENN Global.

Stephen Crosson, CEO of CMSF, stated: “After a long, thorough search for a merger partner, we believe our patience has been rewarded. We are fortunate to have found a growing technology company like Plures with which to merge and we are eager to see the company succeed.”

Russell Cleveland, president of RENN Capital Group Inc., investment adviser to both RENN Universal and RENN Global, stated: “Plures is a specialized company with unique capabilities in the semiconductor business. It has the ability to deliver to customers what others cannot. We have, in Plures, invested alongside an entrepreneurial management team and we are looking forward to working with them as they take a world-class technology to the next level.”

“We are pleased to welcome CMSF, RENN Universal and RENN Global as investment partners. With the backing of CMSF, RENN Universal, RENN Global and our other partners, we will be able to fully utilize our extensive experience and know-how in MEMS and spintronics as we implement our growth initiatives in these two markets, each of which is projected to deliver double-digit annual growth through 2015” stated Glenn Fricano, president of Plures.