NEWS
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Corporate Vision, Inc. Enters Into Letter of Intent of Partial Sale of Its Internet Holdings
February 14, 2000 12:18 PM
TULSA, Okla., Feb. 14 /PRNewswire/ -- Corporate Vision, Inc. CVIA has agreed in principle to the terms of a letter of intent regarding the divestiture of its interests in the following internet sites IPOSITE.COM, IPOSITE.NET, MASTERPIECE-AUCTION.COM, MASTERPIECE- AUCTION.NET and CAR-SHOPPING.COM to Berlington Securities. Berlington Securities is a Wall Street Investment Banking group who intends to purchase these internet sites on behalf of their underwriting endeavor, an internet incubator company.
Corporate Vision, Inc. President and CEO Keith A. Anderson issued this statement, "The Board of Directors and Management of CVIA feel that consummation of this agreement with Berlington Securities will not only add immediate and considerable shareholder value to our stock, but it will also allow expedited execution of the business models developed on the behalf of these sites. It is expected that many of the terms of this agreement would allow CVIA a participation in what is anticipated to be one of the larger and more highly anticipated Internet IPO's of the up-coming year. As negotiations continue, details cannot yet be disclosed regarding the terms of the letter of intent but will be made available to our shareholders as warranted."
For additional information please contact Barry Hall at Corporate Vision, Inc., 918-307-2243.
SOURCE Corporate Vision, Inc.
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