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VSE Notices - Notice
Notices are available for companies which are currently listed on the VSE.
GLOBAL NET ENTERTAINMENT CORP. ("GET")
[formerly Mt. Tom Minerals Corp. ("MTK")]
NOTICE TYPE: Filing Statement, Change of Business, Escrow Agreement, Shares for Debt, Name Change
NOTICE DATE: October 20, 1999
The Vancouver Stock Exchange has accepted for filing the Company's Filing Statement dated October 14, 1999
which discloses the following transactions:
Change of Business
The Vancouver Stock Exchange has accepted for filing an agreement dated May 18, 1999 between Julius Csurgo
and Peter Zmudzki (the 'Vendors') and the Company. The Company has agreed to issue 2,500,000 escrowed
performance shares to the Vendors in exchange for all the shares of Global Net Entertainment Corp. ('Global'). For
more information about the business of Global, please refer to the Company's Filing Statement dated October 14,
1999.
Escrow Agreement
The Vancouver Stock Exchange has accepted for filing an escrow agreement dated October 4, 1999 between
Pacific Corporate Trust Company, Julius Csurgo, Peter Zmudzki (the 'Vendors') and the Company. The Vendors
are entitled to a release of one escrowed performance share for each $0.12 of audited Cumulative Cash Flow as
defined by VSE Policy 19. Any performance shares not earned out of escrow within the 5 years ending October
20, 2004 must be surrendered for cancellation. The 2,500,000 escrowed performance shares shall be issued as
follows:
Julius Csurgo 1,250,000
Peter Zmudzki 1,250,000
Shares for Debt
The Vancouver Stock Exchange has accepted for filing the Company's proposal to issue 92,593 shares at a
deemed price of $0.27 per share to settle outstanding debt as follows:
Creditor Price Shares Amount Owing
Sheldon Kales $0.27 92,593 $25,000.00
The Company shall issue a news release when the shares are issued and the debt extinguished. |
