This is HUGE news on FCFOF
Applies to -- FCFOF
Four Crown Foods Acquires Name Domain License Agreement
Four Crown Foods Acquires Name Domain License Agreement
VANCOUVER, British Columbia, Apr 13, 2000 (BUSINESS WIRE) -- FOUR CROWN FOODS
INC. (the "Company")(OTC BB:FCFOF) announces that the Company has acquired the
license rights to a domain registration agreement for the ".cc" Internet
registration domain, (the "License Agreement.") Under the License Agreement, the
Company will have the right to purchase up to 500,000 domain names under the
".cc" registration domain at a preferential price. The Company will issue
7,000,000 restricted common shares in consideration for the acquisition of the
License Agreement.
Mr. Allan Brown has been appointed to the Company's board of directors and will
succeed Mr. Edgar Rahal as President of the Company. Mr. Brown will oversee the
management and operation of the Company's domain name registration business. The
Company has received the resignation of Mr. Rahal as a director and President of
the Company. The Company has also received the resignation of Eugene Hodgson as
a director.
The board of directors of the Company have approved a private placement of up to
3,000,000 units at a price of $0.50 in order to raise funds in order to complete
domain name registrations under the License Agreement. Each Unit will consist of
one common share and one share purchase warrant which will entitle the holder to
purchase one common share at a price of $1.00 per share for a period of one
year. The offering will be completed in reliance of Regulation S of the
Securities Act of 1933. The board of directors has also approved the grant of
options to purchase 750,000 common shares at a price of $0.50 per share to the
Company's directors, officers, employees and permitted consultants.
Certain statements contained herein are "forward looking statements" (as such
term is defined in the Private Securities Litigation Reform Act of 1995), These
statements are based upon the belief of the Company's management, as well as
assumptions made beyond information currently available to the Company's
management. Because such "forward looking statements" are subject to risks and
uncertainties, actual results may differ materially from those expressed or
implied, Such "forward looking statements" include but are not limited to,
competitive factors, general economic condition, customer relations,
relationships with vendors, government supervision and regulation, product
introductions and acceptance, technological changes in industry practices, and
other factors discussed in filings made by the Company with the Securities and
Exchange Commission, on behalf of the board of directors of Four Crown Foods
Inc.
Distributed via COMTEX.
Copyright (C) 2000 Business Wire. All rights reserved.
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CONTACT: Four Crown Foods Inc.
Scott Houghton, 604/408-7692
John Boschet, 604/408-7696
KEYWORD: INTERNATIONAL CANADA
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