You've Got News....
MBT International Engages Investment Banking Firm of Sands Brothers & Co., Ltd.
Sands Brothers To Conduct $3 Million Private Placement and Explore Ways To Enhance Shareholder Value
CASTLE ROCK, Colo.--(BUSINESS WIRE)--June 17, 1999-- MBT International Inc. (OTC:MBTI - news), owner of the premier Internet web sites focused on e-commerce and auctions for the farming, agricultural and horse-related industries, today announced that it has engaged the New York City-based Investment banking firm of Sands Brothers & Co., Ltd. Sands Brothers will act as MBTI's exclusive financial advisor with respect to exploring ways to enhance shareholder value, initially focusing on MBTI's leading Internet portal, www.agrimall.com. Additionally, Sands Brothers will immediately begin working on a private placement for MBTI and its affiliates among institutional investors.
Commenting on the announcement, Andy McKinnon, Chairman and CEO of MBTI, stated, ''We are extremely pleased and excited about entering into an investment banking relationship with such a quality firm as Sands Brothers. We are confident that this strategic relationship will result in a better and more accurate valuation of MBTI's shares in the market as well as provide us with the capital to take advantage of the many opportunities that are before us.''
Mr. McKinnon continued, ''We believe Sands Brothers will play an important role as we continue to successfully execute our strategic business plan which calls for us to develop agriculturally related Internet portals. Sands Brothers will seek ways to enhance shareholder value for each of the sites we develop, as well as those already completed, such as AgriMall.com (www.agrimall.com).''
MBTI has over 400,000 users and is the parent company of AgriMall.com (www.agrimall.com), Horsenet.com (www.horsenet.com), LifeAtHome.com (www.lifeathome.com) and Bookstable.com (www.bookstable.com). MBTI's strategy is to acquire content-rich, value-added and sophisticated yet navigable web sites, and to become a leader in the $300 billion agricultural industry. MBTI continually evaluates highly focused acquisitions that will further increase both the traffic and volume of e-commerce at its Agrimall.com site. MBTI applies methodologies currently in use by online auction and marketing.
For additional information on MBTI, please visit the Company's web site at www.mbtinet.com.
Certain statements in this release are forward looking. Although MBTI believes its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results will not differ materially from its expectations. For factors that may cause actual results to differ materially from expectations and underlying assumptions, see reports by MBTI filed with the Securities and Exchange Commission |
