NEW YORK, Oct 21, 1999 (BUSINESS WIRE) -- Global Network Inc.
(OTCBB:GNNU) announced today that various significant shareholders have
cancelled approximately two thirds of the outstanding shares of the
Company's stock.
The Company has either received or received notice from brokerage firms
that approximately 21,150,000 shares are being retired. Following this
retirement there will be approximately 10,800,000 shares outstanding of
which approximately 9,200,000 shares are restricted.
Jim Mason, President of Global Network said, "We are extremely pleased
that we were able to complete the reduction in outstanding shares we
had announced on September 17, 1999. We believe this will be of
significant long term benefit to our shareholders and to the Company as
well."
For more information, go to GNNU's web site at dgonn.com or
globalnetworksonline.com.
Statements in this press release other than statements of historical
fact including statements regarding the company's plans, beliefs and
estimates as to projected market size are "forward-looking statements."
Such statements are subject to certain risks and uncertainties and
actual results could differ materially. These forward-looking
statements represent the company's judgment as of the date of this
release. The company disclaims, however, any intent or obligation to
update these forward-looking statements.
|
