Synpan Will Spend $500 Million to Acquire a Web Site
Wellness Universe Corporation (OTC Bulletin Board: WELU) Will be Part of the
Cash and Stock Transaction.
NEW YORK, Dec. 23 /PRNewswire/ -- New York based The Synpan Group of Companies is seeking to acquire an existing web site which will be used as a platform for the formation of THE SYNPAN GLOBAL VIRTUAL SHOPPING MALL.
Negotiations have started for the search and a web site has been selected currently being evaluated at a price of $500 million. Mutual confidentiality agreements signed.
Additionally, other web sites are being examined as prospective acquisition web sites. Further options are to reach a Joint Venture agreement with leading e-commerce conduits that will give our company an immediate critical mass intentionality for people power.
George Charles Pappas, Synpan.com Chairman and CEO says, "We will be very aggressive in attaining our goal of creating a SYNPAN Global Shopping Mall that will deliver the promise of the Internet not only to wellness e-seekers through a unique user experience, but also to business (e-partners) striving to more efficiently deliver their services and products to consumers.
Mr. Pappas further says "E-partners benefit by extending their brand through the use of our SYNPAN Mall. The end result is a wealth of knowledge and targeted information for the e-seekers and a highly-qualified target audience for each SYNPAN PARTNER."
THE SYNPAN DIGITAL HEADQUARTERS:
It is a one stop, one shop online marketplace, to promote the wellness revolution of WEALTH, HEALTH AND SPIRITUALITY. Additionally, THE SYNPAN MALL will be responsive to other users needs: FINANCIAL SERVICES, STOCKS AND BONDS, INSURANCE, MORTGAGES, AND HI-TECH MERCHANDISE.
Currently Mr. Pappas is seeking to recruit a named, well-recognized, e-commerce business executive that will replace him as Chairman and CEO. Mr. Pappas will remain as Vice-Chairman of the Board in charge of Corporate Development.
SOURCE The Synpan Group of Companies
CO: Synpan Group of Companies; Wellness Universe Corporation
ST: New York
IN: MLM FIN
SU: PDT
12/23/1999 08:30 EST prnewswire.com |
