EPMO NEWS:
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ePromo Acquires Qvergent Radio Corporation
KINGSTON UPON HULL, England, Nov. 27 /PRNewswire/ -- ePromo (the ``Company''), (OTC Bulletin Board: EPMO - news), a Nevada corporation, announces that it has entered into a definitive merger agreement to acquire Qvergent Radio
Corporation (www.qthat.com) for an exchange of company stock. ePromo will acquire 100% of Qvergent's 1,296,426
outstanding shares in exchange for 25% of ePromo's company's 4,025,000 shares of stock. Certain of ePromo's principal
shareholders, including its president Darren Everett and Marketing Director, Heimir Karlsson, will concurrently surrender an aggregate of 4,025,000 shares, resulting in no additional shares of ePromo being issued after the closing of the acquisition.
ePromo and Qvergent anticipate closing the merger on or before December 31, 2000. The merger is subject to the completion of the due diligence of the parties and is subject to numerous contingencies and terms, which are particularly described in the merger agreement, a copy of which will be attached to ePromo's form 8-K describing this transaction. Greg Barela, ePromo's CEO is also the CEO of Qvergent.
Qvergent provides a first of its kind interactive ``reQuest(TM)'' marketing service that provides consumers information\ requested via wireless devices, as well as landline phones, from radio and other advertising media to their personal email account. Information can vary from music selection and purchase to advertiser coupons or custom flash presentations and catalogs.
Known as the Q, this free service works by dialing a toll-free ``*Q'' number when a consumer hears a song or advertisement on the radio or sees a billboard, bus transit, window sign or any medium that contains a Q-enabled call to action that interests them. For example, information requested about a song (including title, artist, audio sample and purchase opportunity) or an advertisement (including advertiser, description of product or service, where to purchase the product and exclusive promotions
for Q users) is delivered via email to the Q subscriber. Long term, Qvergent intends to offer a variety of features and services including purchasing concert tickets, receiving music news and content relating by artist, album, song, record label, music video, etc., opt-in email opportunities, chat rooms, music search functions, CD sales, and a concert calendar. Qvergent intends to launch its Q service in first quarter 2001.
``The Q service was beta tested last summer in Los Angeles, California,'' say Greg Barela, CEO of ePromo and Qvergent
founder. ``Qvergent allows ePromo to expand its strategies into the fast paced wireless world.'' Mr. Barela was named ePromo CEO in September of this year.
ePromo's desire to acquire Qvergent is in support of its overall strategy to provide a broad spectrum of integrated, interactive, new media products and services to the market. ePromo currently markets a CD-ROM based marketing and promotion tool that allows businesses to deliver their messages in a customized, multi-media format that is unique to their particular business.
About Qvergent Radio Corp.
Qvergent was formed in 1999 with a mission to become the leading Direct ReQuest Marketing Service provider and ``Direct Data Transfer'' company, providing customer information that has been requested by end users and/or prospects directly to them via e-mail. QRC also intends to become an embedded service that can be utilized with all forms of advertising to provide a simple and easy means of delivering request information to a consumer.
About ePromo
ePromo provides high quality marketing tools that allow businesses to profile themselves and its products through
hardware/software technology in a number of different multi-media configurations contained on a custom shaped CD.
Information concerning Qvergent and its business was provided to ePromo by Qvergent.
Certain statements contained in this press release, including without limitation, statements containing the words ``believes,'' ``anticipates,'' ``hopes,'' ``intends,'' ``expects,'' and other words of similar import, constitute ``forward looking'' statements within the meaning of the Private Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from expectations. Such factors include the following (1) technological, engineering, quality control or other circumstances which could delay the sale or shipment of the
products; (2) economic, business, market and competitive conditions in the software industry and technological innovations which could affect the Company's business; (3) the Company's inability to protect its trade secrets or other proprietary rights, operate without infringing upon the proprietary rights of others or prevent others from infringing on the proprietary rights of the Company; and (4) general economic and business conditions and the availability of sufficient financing.
For any additional information contact Investor Relations, toll free at 877-899-9950.
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