Art Cards, Inc. Announces Letter of Intent to Acquire uMember.com
DENVER--(BUSINESS WIRE)--Feb. 1, 2000--Art Cards, Inc. (OTCBB:ATCD) today announced the signing of a letter of intent to acquire 100% of the outstanding common stock of uMember.com, Inc.
("uMember") for newly issued stock in Art Cards.
The proposed transaction is intended to qualify as a tax-free reorganization and is subject to the completion of a definitive agreement and the approval of the respective Boards of Directors and shareholders.
Art Cards, a Colorado corporation, has divested itself of its original business of designing, manufacturing, producing and marketing greeting cards. uMember.com, a California corporation, is introducing a one-stop online "mega-store" offering a wide range of brand name, competitively priced merchandise and services to credit unions, large corporate groups, professional association members and employees of existing large corporate relationships.
CONTACT:
Phoenix Alliance
Phil Huss, 970/259-7241
KEYWORD: COLORADO
BW0386 FEB 01,2000
9:25 PACIFIC
12:25 EASTERN |
