Classic Golf Corp. Acquires Indexonly Technologies Inc
BURNABY, British Columbia--(BUSINESS WIRE)--Sept. 1, 1999--
Classic Golf Corp. (OTC BB:CSGC) announced today that at the company's
annual general meeting, shareholders were asked to vote on certain
matters concerning the acquisition of Indexonly Technologies Inc.
The company is pleased to report that all matters were voted in
favor on the following issues:
1) Approval of the acquisition of Indexonly Technologies Inc. The
company has executed a 1 to 25 reverse stock split, and will now
issue 20,150,000 Restricted shares to Indexonly shareholders in
exchange for the shares of all the shareholders of Indexonly and
the assets and business of Indexonly;
For 3,855,208 Against 157,300 Abstain 0
2) Approval of the Amendment of the company's Articles of
Incorporation, to change the name of the company to Indexonly
Technologies Inc.;
For 8,567,286 Against 197,800 Abstain 0
3) Election of three directors to replace Damian Loth, Richard
Freeman and Ben Clarke. The new directors are Cliff Sweeney,
Clarence Joy and Norm Friend;
For 8,586,111 Against 0 Abstain 178,895
4) Ratification of the 1999 Stock Option Plan;
For 3,372,758 Against 433,750 Abstain 206,000
5) Ratification of the appointment of the company's independent
accountants for fiscal 1999;
For 8,844,811 Against 436,100 Abstain 231,675
The company will be applying for a new trading symbol.
The purpose of Indexonly.com is to create the first commercial
directory that will allow a searcher, with little or no knowledge of
the Internet, to easily and quickly access specific, clearly defined
and geographically targeted information. The proprietary technology
and systems in the final stages of development will position
Indexonly.com as the prime source for searching commercially related
information via the Internet. Indexonly will also revolutionize the
way advertising is conducted over the Internet.
Further information on the Internet business can be obtained by
viewing the corporate web page at www.indexonly.com
Forward-looking statements in this release are made pursuant to
the Safe Harbor provisions of the Private Securities Litigation Reform
Act of 1995. These Forward-looking statements are subject to certain
risks and uncertainties and actual results could differ from those
discussed. This material is information only and is not an offer or
solicitation to buy or sell the securities.
CONTACT:
Classic Golf Corp., Burnaby
Cliff Sweeney, President, 604/419-4401
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