TRIT news :-))))
Triden Telecom, Inc. and Total Telecommunications Partners LLC. Sign Letter of
Intent
Business Editors
TYLER, Texas--(BUSINESS WIRE)--March 23, 2000--Robert S. Hardy,
CEO of Triden Telecom (OTCBB:TRIT), announced today that Chicago-based
Total Telecommunications Partners LLC and Triden Telecom signed a
letter of intent on March 22, 2000 for the merger of Total
Telecommunications Partners LLC. into a new subsidiary of Triden in a
tax-free, stock-for-stock exchange.
The letter of intent sets forth the basic terms pursuant to which
Triden Telecom would acquire Total Telecommunications through a stock
purchase agreement whereby a newly formed subsidiary of Triden will
acquire 100% of Total Telecommunications (including all options,
warrants, etc., and any shares issued upon the exercise of any
options, warrants, etc.) for 25% of the newly formed Triden
subsidiary.
Total Communications Partners LLC. is a telecommunications
management company with agreements in place to provide services to the
property portfolio of U.S. Realtel Co. NASDAQ (USRT - OTC) using the
technology of Sphere Communications Inc. (www.spherecom.com) Mr. Hardy
stated additional information will be made upon the closing of the
letter on intent, expected within 90 days.
In addition, Mr. Hardy further stated that management is engaged
in ongoing negotiations involving possible additional mergers and/or
acquisitions for Triden to bring further value to shareholders and the
combined companies.
This information herein contains forward-looking statements (as
such term is defined in the Private Securities Litigation Reform Act
of 1995), which reflect the views of TRIT and the proposed new members
of management with respect to the future events. These forward-looking
statements are subject to certain uncertainties and other factors that
could cause actual results to differ materially from such statements.
Readers are cautioned not to place undue reliance on these forward
looking statements, which speak only as the date the statement, was
made. There can be no assurance that the forward-looking information
contained herein will in fact transpire.
--30--jlm/in*
CONTACT: Triden Telecom, Inc.
Robert S. Hardy, CEO
903/581-2040
Email: triden@iamerica.net
KEYWORD: TEXAS
INDUSTRY KEYWORD: TELECOMMUNICATIONS
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