CSGGP...I hope people saw this one...it is going A LOT higher...here is todays news:
Wednesday April 21, 5:45 pm Eastern Time
Company Press Release
Concorde Strategies Group, Inc. Announces Agreement and Plan of Share Exchange with W3 Group, Inc.
NEW YORK--(BUSINESS WIRE)--April 21, 1999--Concorde Strategies Group, Inc. (OTCBB: CSGG and OTCBB: CSGGP) announced today that a formal Agreement and Plan of Share Exchange has been entered into with W3 Group, Inc. whereby Concorde will acquire 100% of the capital stock of W3 in exchange for shares of Concorde's Common Stock. The exchange shares are to be determined following the approval by the Concorde Board of Directors and shareholders of a plan for the reverse split of Concorde's common stock.
Mr. Robert Gordon, President of Concorde, stated, ''We believe that the proposed acquisition of W3 will mark the beginning of a new era for Concorde. By moving aggressively into the area of Internet technology we are confident that our shareholders will benefit from this acquisition. Concerning the reverse split of our Common Stock, management has worked diligently to work out a restructuring plan that will provide our existing shareholders with a continuing ability to participate in our future growth. The overall restructuring of Concorde must first be approved by the Board of Directors before being submitted to our shareholders. As soon as this is accomplished we intend to announce the terms of the final plan.''
W3 is a privately held corporation recently formed to serve as an incubator and acquire and develop young companies whose businesses involve the development of Internet related technology.
This press release contains forward-looking statements that involve a number of risks and uncertainties. The proposed transaction is subject to a non-binding letter of intent, with a definitive agreement to be negotiated and is subject to the satisfaction of certain conditions, some of which are outside the Company's control. Accordingly, there can be no assurances that the transaction will be completed. Other factors could cause actual results to differ materially from those reflected in forward-looking statements made from time to time in news releases, reports, proxy statements, registration statements and other written communications, as well as oral statements made from time to time by representatives of the Company.
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Contact:
Concorde Strategies Group, Inc.
Robert Gordon, President
or
Shareholder Relations
212/317-0060
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