30% of float buyback
M&A West, Inc. Announces Stock Buyback Program
San Bruno, CA - Oct. 19, 1999—M&A West, Inc. (OTCBB:MAWI),
announced today that its Board of Directors has authorized the repurchase of
up to 500,000 shares of its Common Stock over the next several months.
Purchases will occur from time-to-time in the open market
M&A West, Inc. Chief Executive Officer and President, Scott Kelly,
commented, "Our cash position continues to improve and we view our stock
as a very positive investment option. This new buyback program along with our
internal growth plan should positively affect long-term shareholder value."
M&A West, Inc. has four primary business objectives. The first is to become a
meaningful player in the acquisition and development of Internet and
technology companies. The second is to provide seed capital to newly
emerging Internet companies. The third is to provide a full line of business
services to emerging micro-cap and small-cap companies to increase
awareness of their business. The fourth is to create and grow offshoot
Internet-related companies under the M&A West, Inc. umbrella.
M&A West, Inc.'s current investments include:
Online venture capital portal VentureList.com (www.venturelist.com),
E-Commerce and Web development company Digital Bridge, Inc.
(www.digitalbridge.com), Online gaming portal Virtualwagering.com, Inc.
(www.virtualwagering.com) and Online grocery provider Virtualgroceries.com,
Inc. (www.virtualgroceries.com).
The company recently announced the launch of its Pokemon Web sites:
winpokeman.com, drawpokemon.com.
On October 4, 1999, M&A West, Inc. announced a profit of $.16 per share for
the first quarter, 2000.
For more information on M&A West, Inc. please visit www.mawest.com.
Statements regarding financial matters in this press release other than
historical facts are ``forward-looking statements' within the meaning of Section
27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act
of 1934, and as that term is defined in the Private Securities Litigation Reform
Act of 1995. The Company intends that such statements about the Company's
future expectations, including future revenues and earnings, and all other
forward-looking statements be subject to the safe harbors created thereby.
Since these statements (future operational results and sales) involve risks and
uncertainties and are subject to change at any time, the company's actual
results may differ materially from expected results.
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