Monday August 23, 7:01 pm Eastern Time
Company Press Release
STARUNI Corporation Completes the Purchase of 50% Interest in The Agent's Hotel Guide, Inc. from AmeriResource Technologies, Inc.
BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Aug. 23, 1999--Bruce Stuart, president, announced today the finalization for the purchase of 50% interest in The Agent's Hotel Guide, Inc., has been completed effective Aug. 23, 1999.
STARUNI (OTC BB:SRUN - news) acquired 50% ownership of the guide from AmeriResource Technologies, Inc. (OTC BB:ARET - news). AmeriResource had acquired the Guide from Global Datatel, Inc. (OTC BB:GDIS - news) formerly Gold Coast Resources, Inc. In recent years, the guide provided booking accommodations and location information on more than 10,000 major hotels and resorts located throughout the United States, Canada, Mexico and the Caribbean.
STARUNI will issue restricted stock at a value of $1,750,000.00 for the 50% interest in The Agent's Hotel Guide, Inc. STARUNI will guarantee the value of the stock for a one year period. STARUNI will provide the expertise and capital resources to build the Web-Site via the Internet.
STARUNI is a rapidly growing Internet Service Provider, with a customer base that exceeds 5,000 subscribers through their own website and their recently announced joint venture with a Canadian ISP, UniTransact Business Solutions Inc. (OTC BB:UTNS - news).
The UTNS joint-venture has allowed STARUNI immediate penetration in the Canadian market. The company provides a wide array of Internet services that are tailored to meet the needs of individuals and small business. STARUNI is aggressively seeking expansion of their customer base through the acquisition of existing providers.
Bruce Stuart, president, stated ''We are excited about completing this business transaction which allow STARUNI and its recent Joint-Venture partner, Canadian ISP, UniTransact Business Solutions Inc. (OTC BB:UTNS - news) to enter the huge Internet travel industry that is growing tremendously. The Agent's Hotel Guide, Inc. in most recent years had a huge following of subscribers that will allow our ISP to continue to expand our network of our current clients nationally and now internationally.''
The release may contain forward looking statements that involve risk and uncertainties, including, without limitation, continued acceptance of that company's products and services, increased levels of competition, new products and technological changes.
Contact:
STARUNI Corporation
Bruce Stuart, 310/358-2340 |
