SKGV - NEWS!
SkyGivers Signs Agreement to Merge with IMOJO Inc.
Business Editors & High-Tech Writers
PENN YAN, N.Y.--(BUSINESS WIRE)--March 15, 2001--SkyGivers Inc.
(OTCBB:SKGV) today announced that it has signed an agreement to merge
with IMOJO Inc., a privately held Delaware corporation, in a
stock-for-stock merger. IMOJO Inc. is presently a group of five
technology companies targeting deficiencies in multiple marketplaces.
Completion of the merger is subject to IMOJO's due diligence. As a
result of the merger, IMOJO's shareholders will control approximately
68% of the outstanding Common Stock of SkyGivers and, through the
exercise of warrants, can presently purchase up to approximately an
additional 12% of the outstanding common stock for a period of up to
five years, for a purchase price of $15 million. Upon the closing of
the merger, SkyGivers will change its business model to that of
IMOJO's. Subsequent to the completion of the merger SkyGiver's name
will be changed to that of IMOJO's. Also upon completion, Carol
Fitzgerald will resign as CEO and director of SkyGivers. Kathleen
Tyler, the CFO of SkyGivers, was terminated effective March 1, 2001.
Contact Information: SkyGivers Inc. 165 Main St., Penn Yan, NY
14527, Attn: Carol Fitzgerald, Phone 315/536-9967 Fax: 315/536-9985
E-mail contact: Carol@SkyGivers.com
The Private Securities Litigation Reform Act of 1995 provides a
"safe harbor" for forward-looking statements. Certain information in
this press release (as well as information included in oral statements
or other written statements made or to be made by the Company)
contains statements that are forward-looking, such as statements
relating to the future anticipated direction of the Internet industry,
plans for future expansion, various business development activities,
planned capital expenditures, future funding sources, anticipated
sales and potential contracts. Such forward-looking information
involves important risks and uncertainties that could significantly
affect anticipated results in the future and, accordingly, such
results may differ from those expressed in any forward-looking
statements made by or on behalf of the Company. These risks and
uncertainties include, but are not limited to, those relating to
development and expansion activities, dependence on existing
management, financing activities, domestic and global economic
conditions, changes in federal or state tax laws and market
competition factors.
--30--MJB/ho*
CONTACT: SkyGivers Inc., Penn Yan
Carol Fitzgerald, 315/536-9967
Fax: 315/536-9985
E-mail: Carol@SkyGivers.com
KEYWORD: NEW YORK DELAWARE
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS INTERNET
TELECOMMUNICATIONS MANAGEMENT CHANGES MERGERS/ACQ
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Mar-15-2001 15:35 GMT
Symbols:
US;SKGV
Source BW Business Wire
Categories:
MST/R/US/NY MST/R/US/DE MST/I/NET MST/I/TEL MST/S/PER MST/S/MRG |
