NETgraphe becomes Quebec Internet leader
NETgraphe Inc WWW
Shares issued 34,691,500 Dec 10 close $6.75
Mon 13 Dec 99 News Release
Mr. Normand Drolet reports
Netgraphe and InfiniT Inc., property of TVA Group, Videotron Communications
Inc. and Simgesco LTD, have successfully completed the merger of all their
Internet operations under Netgraphe and have now become the Internet leader
in Quebec.
Following the agreement's approval by the companies' boards and by the
regulatory authorities, the parties involved have finalized this morning,
in Montreal, the transaction authorizing the transfer of all of InfiniT's
Internet assets, including the InfiniT.com portal, as well as its
agreements, partnerships and investments. In addition to these assets
valued at 72.7-million, there is a capital investment of 11.75-million,
payable by the issuance of 48,245,290 shares of Netgraphe. As well, InfiniT
is acquiring a million shares directly from the company's founders. With
this transaction, Videotron Communications and TVA Group hold 54 per cent
of the share capital of Netgraphe, the remaining shares being held by
company management and the general public.
Netgraphe has made application to transfert its listing to the Toronto
Stock Exchange and the stock exchange has indicated that the closing of
this transaction with InfiniT is the major condition to the transfer.
With a team of 75 experienced managers and professionals, Netgraphe will
rely on the support, creativity, business acumen and the strong networks of
its new partners, Videotron Communications and TVA Group, to pursue
development projects and accelerate its growth.
Netgraphe's management team is now as follows:
Normand Drolet, president and chief executive officer;
Pierre Simon, chairman of the board;
Marc Copti, president of Netgraphe International;
Yves Williams, vice-president, La Toile du Quebec;
Denise Chartrand, vice-president, InfiniT.com.
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