News release:
Wednesday April 5, 9:55 am Eastern Time
Company Press Release
booktech.com, Announces American Stock Exchange Listing and Completion of Reverse Merger
Trading Under Symbol "BTC"
WOBURN, Mass.--(BUSINESS WIRE)--April 5, 2000--
booktech.com, Inc. (AMEX: BTC - news) announced that its common stock has been accepted for listing on The American Stock Exchange ("AMEX") under the symbol "BTC" and will commence trading on AMEX at the opening of business today.
In conjunction with booktech's raise of $7 million in new capital the Board of Directors of booktech.com, inc. approved a reverse merger with EG Acquisition Corporation, a wholly owned subsidiary of Ebony & Gold Ventures, Inc. The common stock of Ebony & Gold Ventures was, until the close of business on Tuesday April 4, 2000 quoted on the OTC Bulletin Board under the symbol "EBGV."
The Company has selected Spear, Leads & Kellogg, which is the largest specialist firm on the trading floor of AMEX (as measured by both committed capital and the number of companies for which it has been assigned responsibility by AMEX), as its specialist.
Morris A. Shepard, Ph.D., Chairman and Chief Executive Officer of the Company, commented: "We are very excited about our transition to AMEX. With the support of our specialist, Spear, Leads & Kellogg, we hope that trading on AMEX will increase the effective marketability of our common stock to institutional investors, boost the visibility of our accomplishments and provide greater access to growth capital."
AMEX is the nation's second largest floor-based exchange. On AMEX, trading is conducted through an advanced centralized specialist system, combining the speed of computer-delivered orders with the liquidity of customer-driven markets. A traditional "floor-based" market, AMEX is structured to consolidate all incoming stock orders and channel trades for a particular stock through a single dealer, called a specialist. The specialist plays a central role for listed companies, providing key market information on how their stock is performing directly from the trading floor. The specialist works to match buy orders with sell orders for a company's stock, matching and executing orders as they are received. More than 70% of the volume traded on AMEX consists of matched investor orders. In an absence of customer orders, specialists trade for their own accounts, providing additional liquidity, and establishing the public quote for stock. At a company's assigned location on the trading floor, all buy and sell orders pass through the specialist, who is accountable to the company, its investors and its Board of Directors.
About booktech.com
booktech.com (www.booktech.com), headquartered in Woburn, MA, is a 4 1/2 year-old, digital and on-demand publisher of custom textbooks and coursepacks. It has built a customer base of over 2,500 professors and students in some 500 American colleges and universities, ranging from Harvard University to the University of Alaska.
In addition to colleges and universities, booktech.com has become an important custom publishing resource in the k-12 market with such noteworthy titles as: Breaking the Spanish Barrier, Breaking the French Barrier, Trade Routes, and Choices.
This communication may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on the beliefs of the Company and its management. When used in this document, the words "anticipate," "believe," "continue," "estimate," "expect," "intend," "may," "should," and similar expressions are intended to identify forward-looking statements. Such statements reflect the current view of the Company with respect to future events and are subject to certain risks, uncertainties and assumptions, including, but not limited to, the risk that the Company may not be able to implement its growth strategy in the intended manner, risks regarding currently unforeseen competitive pressures and technological changes. In addition, the Company's business, operations and financial condition are subject to the risks, uncertainties and assumptions which are described in the Company's reports and statements filed from time to time with the Securities and Exchange Commission. Should one or more of those risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein.
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Contact:
booktech.com
Steven Encarnacao, 781/933-5400
Chief Marketing Officer
or
The Investor Relations Group
Juan Dominguez or
Dian Griesel, Ph.D.
212/736-2650
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