AMEX Reports On Recent Developments
NEW YORK--(BUSINESS WIRE)--March 15, 2000--WAMEX Holdings, Inc. (OTC BB:WAMX), an internet and technology company dedicated to creating and dominating an efficient alternative market and exchange for individual and institutional investors, today reported on the status of recent developments and prospects.
Russell Chimenti, Chief Administrative Officer, stated, "Due to the increasing number of requests for information concerning recent developments and subsequent announcements, management felt it prudent to attempt to provide a more insightful view into the essence of the Company's activities."
Mitchell H. Cushing, Chairman and CEO, added, "Regarding yesterday's announcement of the acquisition of Illinois-based NIPHIX, a pioneer in the online Alternative Listing System (ALS) industry, we contend that NIPHIX has the unique ability to offer the public through its affiliation with WAMEX, the opportunity to participate in public offerings that would not normally be available to them. The combined WAMEX Alternative Trading System (ATS) technologies and NIPHIX ALS technologies, and our strategy concerning secondary market trading, we believe will create a 'total platform', not only leveling the playing field but creating the foremost global trading arena available."
"In addition to NIPHIX, the WAMEX alliances which include affiliates and partners such as Oracle, NYD2, iNYC, Cyberlinex and Net Holdings Group makes for a formidable foundation for our target of creating and dominating a global ATS market."
"The Company declared a dividend in the form of common stock. March 17th, 2000 is the `Date of Record'. Shareholders who have acquired WAMEX shares on or before this date and continue to hold their shares until the ex-Dividend date - April 7th, 2000, will be entitled to receive the dividend shares, which are payable on April 6th, 2000. Additionally, investors who purchase and hold WAMEX shares after March 17th, 2000 and through April 6th, 2000, will also be entitled to the dividend."
"As a result of the issuance of the dividend shares, the Company believes that a beneficial recapitalization, widely held and tradable security and well as a more obtainable share price to attract potential new shareholders, will be evidenced, "Cushing concluded.
The WAMEX lead product, the WAMEX Alternative Trading System (ATS), addresses one of the largest and most active industries worldwide. The proprietary system enables a community of self-empowered investors to consummate transactions more efficiently and at a lower cost.
Safe Harbor Statement: This release may contain certain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securites Litigation Act of 1995. Actual events or results may differ from the Company's expectations.
CONTACT: WAMEX Holdings, Inc.
Russell Chimenti
718/677-4111 ext. 154
or
DeMonte Associates
Cynthia DeMonte
212/473-3700
WAMEX HOLDINGS INC - WAMX
Price 15 1/2
Net Change +3/8
Volume (000) 250
Day High 15 3/4
Day Low 15 3/8
as of
03/15/00 13:58 PM EST
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