News is out!! The deal is done. Now let's see what starts to come out of the woodwork as far as real business is concerned.
Salut,
Leigh McBain
GLOBAL NET ENTERTAINMENT CORP. ("GET") [formerly Mt. Tom Minerals
Corp. ("MTK")] - Filing Statement, Change of Business, Escrow - Agreement, Shares for Debt, Name Change
The Vancouver Stock Exchange has accepted for filing the Company's Filing Statement dated October 14, 1999 which discloses the following
transactions: Change of Business The Vancouver Stock Exchange has accepted for filing an agreement dated May 18, 1999 between Julius Csurgo and Peter Zmudzki (the 'Vendors') and the Company. The Company has agreed to issue 2,500,000 escrowed performance shares to the Vendors in exchange for all the shares of Global Net Entertainment Corp. ('Global'). For more information about the business of Global, please refer to the Company's Filing Statement dated October 14, 1999.
Escrow Agreement The Vancouver Stock Exchange has accepted for filing an escrow agreement dated October 4, 1999 between Pacific Corporate Trust Company, Julius Csurgo, Peter Zmudzki (the 'Vendors') and the Company. The Vendors are entitled to a release of one escrowed performance share for each $0.12 of audited Cumulative Cash Flow as defined by VSE Policy 19. Any performance shares not earned out of escrow within the 5 years ending October 20, 2004 must be surrendered
for cancellation. The 2,500,000 escrowed performance shares shall be issued as follows:
Julius Csurgo - 1,250,000
Peter Zmudzki - 1,250,000
Shares for Debt The Vancouver Stock Exchange has accepted for filing the Company's proposal to issue 92,593 shares at a deemed price of $0.27 per share to settle outstanding debt as follows:
Creditor Price Shares Amount Owing
Sheldon Kales $0.27 92,593 $25,000.00
The Company shall issue a news release when the shares are issued and the debt extinguished. Name Change Pursuant to a special resolution passed by shareholders July 29, 1999, the Company has changed its name from Mt. Tom Minerals Corp. to Global Net Entertainment Corp. There is no consolidation of capital. Effective at the opening October 21,
1999, the common shares of Global Net Entertainment Corp. will commence trading on the Vancouver Stock Exchange, and the common shares of Mt. Tom Minerals Corp. will be delisted. The Company is classified as a 'Venture' company.
Capitalization: 100,000,000 shares with no par value of which
8,865,256 shares are issued and outstanding
Escrow: 2,516,226 escrow shares
Section: 3
Transfer Agent: Pacific Corporate Trust
Company Trading Symbol: GET (new)
CUSIP Number: 37939B 10 3 (new)
For further information, please refer to the Company's Filing Statement dated October 14, 1999 |
