Friday March 9, 5:15 am Eastern Time
Press Release
SOURCE: IVG Corp.
IVG Corp. Completes Strategic Name Change and Reincorporates in Delaware
HOUSTON, March 9 /PRNewswire/ -- IVG Corp. (OTC Bulletin Board: ITVI - news; www.IVGCorp.com) today reported that it has completed its previously announced name change and changed its state of incorporation from Florida to Delaware. The name change and reincorporation were accomplished by merging Internet Venture Group, Inc., a Florida corporation, into IVG Corp., a Delaware corporation formed for the purpose of these transactions. Each issued and outstanding share of common stock of Internet Venture Group, Inc. was automatically converted in the merger into one share of common stock of IVG Corp.
In the press release from March 7, 2001 titled, ``IVGCorp Completes Strategic Name Change,'' the new name, IVG Corp., was missing the space. Also, the symbol will be changed on Monday March 12, 2001 to ``IVGG''.
Elorian Landers, President of IVG Corp., stated, ``Our new name, IVG Corp., reaffirms that our strategic focus extends beyond the Internet. Additionally, it complements our efforts to create a single brand for our acquired companies, regardless of the nature of their business. Our reincorporation in Delaware permits us to operate under Delaware's well-established principles of corporate governance. The prominence and predictability of Delaware corporate law provides a reliable foundation on which IVG Corp.'s governance decisions can be based. We believe that our shareholders will benefit from the responsiveness of Delaware corporate law to their needs and the needs of their company.''
Effective Monday, March 12, 2001, IVG Corp. common stock will begin trading on the OTC Bulletin Board under the symbol ``IVGG''. The Company's common stock has been assigned the new CUSIP number 45071A106 effective February 28, 2001. The Company's Transfer Agent, Computershare Trust Company, Inc., will forward a letter of transmittal to the Company's shareholders of record to enable them to exchange their stock certificates for certificates bearing the new name, state of incorporation and CUSIP number.
IVG Corp. is a Houston-based human resource and technology company that focuses on the acquisition, development and operation of promising revenue- generating companies. IVG Corp.'s business strategy is to acquire, develop and operate unique companies that are leaders in their commercial niche by virtue of a compelling business model, technology and/or proprietary service. IVG Corp. provides a value-added corporate structure intended to enable its portfolio companies to quickly leverage their expertise and deploy their business strategy by utilizing the management, financial and corporate resources of the Company.
For more information on IVG Corp., visit www.IVGCorp.com, or contact Richard Twardowski at 713-596-9313.
This press release includes forward-looking statements, including statements relating to the business strategy of IVG Corp. These statements are made under the ``safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These risks and uncertainties include, among others: risks relating to the ability of IVG Corp. management to successfully accomplish fund raising activities, the ability to achieve or sustain profitability; limited operating history; possible financing needs; risks associated with identifying and completing acquisitions; risks associated with the integration of acquired technologies, operations and personnel; risks of being deemed an investment company; exposure to unforeseen liabilities of acquired companies; the requirement to record additional future operating costs for the amortization of goodwill and other intangible assets, which amounts could be significant; business conditions in the e-commerce and Internet industries generally; the impact of market competitors and their product and service offerings; and the economic, competitive, governmental, technological and other factors identified in IVG Corp.'s filings with the Securities and Exchange Commission. These factors are described in further detail in IVG Corp.'s filings with the Securities and Exchange Commission, available online at freeedgar.com.
Contact: Richard Twardowski
Investor Relations
713-596-9308
Richard@ivgcorp.com
SOURCE: IVG Corp. |
