Global Network Announces Initiation of Stock Buyback Program
Wednesday November 29, 9:30 am Eastern Time
Press Release
NEW YORK--(BUSINESS WIRE)--Nov. 29, 2000--The Board of Directors of Global Network Incorporated, (OTCBB:
GNNU - news) announced today that they have authorized the initiation of a stock buyback program for up to 100,000 shares of common stock.
Share purchases will be made on the open market from time to time depending upon market conditions.
Jim Mason, the Company's President and CEO commented, ``Primarily due to market conditions and the relative downturn in Internet and particularly Internet
advertising and technology stocks, we feel Global Network shares are undervalued. Our Company's fundamentals continue to strengthen as we improve our
proprietary technology, conduct market tests with leading online publishing and advertising firms, procure new clients and develop strategic relationships. The
repurchase of shares at these undervalued levels is a great investment and builds long-term shareholder value.''
About Global Network Inc.
Global Network is an Internet marketing company with a business-to-business plan for servicing and supporting the Internet businesses of newspaper publishers.
Global Network utilizes proprietary software solutions for implementing complex online advertising campaigns and for generating real-time verification of customer
results. For more information, please refer to the Company's recent 10K and 10Qs filed with the Securities and Exchange Commission, or visit Global Network's
website at www.dgonn.com or www.globalnetworksonline.com or by contacting Dilek Mir, Vision Corp. Consulting, at 310-479-6620 or gnnu@visioncc.net.
Statements in this press release other than statements of historical fact, including statements regarding the company's plans, beliefs, and estimates as to projected
market size are ``forward-looking statements''. Such statements are subject to certain risks and uncertainties, including factors listed from time to time in the
company's SEC filings, and actual results could differ materially from expected results. These forward-looking statements represent the company's judgment as of the
date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.
Contact:
Global Network Inc., New York
Mr. James Mason, 212/605-0431
jcmason@dgonn.com
or
Vision Corporate Consulting, New York
Ms. Dilek Mir, 310/479-6620
gnnu@visioncc.net |
