HUGE NEWS OUT - Venturenet to buy 80% for $80 million
(PR NEWSWIRE) VentureNet to Acquire 80% of ATI Networks for $80 Million
VentureNet to Acquire 80% of ATI Networks for $80 Million
TEMECULA, Calif., March 28 /PRNewswire/ -- VentureNet.com Inc. (a Delaware
Corporation) announced that it will acquire 80% of the total authorized stock
of ATI Networks (OTC Bulletin Board: ATIW) at a price based on the greater of
the closing bid price per share on April 30, or $80 million. The purchase
price will be paid in a combination of cash and VentureNet.com Common Stock.
The officers of ATI Networks will retain their current positions in name and
function.
ATI Networks is building a global e-business using its state of the art
online technologies and proven marketing technologies to create high volume,
high margin, e-commerce Web sites. Additional product and investor
information is also available on the company's Web site at
atinetworks.com
VentureNet.com specializes in providing financing and management expertise
to pre-public and public emerging growth companies, demonstrating a high
growth potential. The core of the company's business is bringing together
companies and value seeking investors an opportunity for substantial returns,
while helping the most promising companies realize their visions for the
future.
VentureNet.com Inc. is a venture capital firm that specializes in funding
early stage and first round financing for consumer and technology-based
companies.
For further information, contact Tammy Billington in shareholder relations
at 909-693-1644.
Safe Harbor Statement
The foregoing news release may include numerous forward-looking statements
concerning the company's business and future prospects and other similar
statements that do not concern matters of historical fact. The Federal
securities laws provide a limited "safe harbor" for certain forward-looking
statements. Forward-looking statements in this news release relating to
product development, business prospects and development of a commercial market
for technological advances are based on the company's current expectations.
The company's current expectations are subject to all of the uncertainties and
risks customarily associated with new business ventures including, but not
limited to, market conditions, successful product development and acceptance,
competition and overall economic conditions, as well as the risk of adverse
regulatory actions. The company's actual results may differ materially from
current expectations. Readers are cautioned not to put undue reliance on
forward-looking statements. The company disclaims any intent or obligation to
update publicly these forward-looking statements, whether as a result of new
information, future events or for any other reason.
SOURCE ATI Networks
-0- 03/28/2000
/CONTACT: Tammy Billington of VentureNet.com, 909-693-1644,
absolute@iinet.com /
/Web site: atinetworks.com /
(ATIW) |
