July 29, 2009 (FinancialWire) — MonArc Corp. (OTC: MONA) has closed the sale of its ITI Biotech International Inc. subsidiary to Global General Technologies, Inc. (OTC: GLGT) in an all-stock deal using GLGT common shares.

The transaction was scheduled to close over six weeks ago but was delayed due to certain planned distributions to MonArc shareholders. MonArc said the details and logistics are still being worked on by the new MonArc management.

MonArc said it will now focus its energies on its recently acquired H T Processing.

Montreal-based MonArc focuses on bringing private companies into the public markets. The company is currently active in China.

MonArc acquires a company, usually via a share exchange agreement, then works to builds general awareness of that company. Once sufficient investor interest is created, MonArc spins the company off into a dedicated shell company, and hands it off to its network of strategic partners, who provide the necessary financial, corporate and legal consulting roles.

As part of the spin-off process, MonArc takes a position in the new public shell company, and distributes stock dividends to our own shareholder base. MonArc said it has five different projects at various stages of completion.

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