Merger Agreement to List OrioleSystems.com on OTC Bulletin Board
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: ORIOLE SYSTEMS INC.
VSE SYMBOL: OOL
JULY 7, 1999
Oriole Systems is Finalizing Merger Agreement to List
OrioleSystems.com on OTC Bulletin Board
VANCOUVER, BRITISH COLUMBIA--The Board of Directors of Oriole
Systems Inc. (OOL-VSE) announced today that it has retained
attorney at law Frank J. Hariton of New York, New York as U.S.
counsel for Oriole and its wholly owned subsidiary,
OrioleSystems.com. Mr. Hariton is acting in connection with a
merger of OrioleSystems.com with and into a corporation currently
trading on the U.S. OTC bulletin board, to finalize agreements and
to complete filings required under the U.S. Securities Exchange
Act of 1934 as amended. Mr. Hariton is an expert in general
corporate/commercial law and the securities laws of the United
States and the various states.
Oriole corporate counsel Linda J. Hogg, a member of Page Fraser &
Associates, is representing the company in the merger agreement
for legal due diligence and filings required under the B.C.
Securities Act. The agreement is subject to the approval of the
directors of both companies and the regulatory authorities in
British Columbia and the United States.
Upon successful completion of the merger, further announcements
will be made. To keep Oriole shareholders informed, Oriole wishes
to advise that the merger is in the final stage of negotiation.
As a result of the merger Oriolesystems.com will be gaining public
trading status. Oriole Systems Inc. will continue to trade on the
Vancouver Stock Exchange.
Oriole provides Internet software solutions focused on e-commerce
solutions with its partners including
NCompass Labs - ncompasslabs.com,
OSS/Magic Software - magic-sw.com and
IBM SanFrancisco Project -
ibm.com.
For more information, please phone or fax one of Oriole's message
centers or email to: investorinfo@oriolesystems.com
Toronto (416) 352-5899 New York (212) 504-2818
Vancouver (604) 608-5600 San Francisco (415) 707-2170
Investor information contact is Marie Antoinette Shields at
1-800-419-6019.
This news release may contain forward-looking statements
considered genuine by the author and are based upon the author's
experience and knowledge. However, forces of which the author may
have little or no ability to affect will ultimately determine the
outcome. Any forward-looking statements should not be considered
guarantees of results
On behalf of the Board
Al Gerenser, President
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Oriole Systems Inc.
Marie Antoinette Shields
Investor Relations
1-800-419-6019
Email: info@oriolesystems.com
Website: www.oriolesystems.com
The Vancouver Stock Exchange has not reviewed and does not accept
responsibility for the accuracy of this news release |
