SMMM 1:10 split and real ugly spread
Stratcomm Announces Acquisition
WINTER PARK, FL, Oct 11, 2001 (INTERNET WIRE via COMTEX) -- The principals of
Stratcomm Media Ltd. (OTCBB: SMMM) and Space Systems International, Inc. of San
Diego California have signed a Letter of Intent for Stratcomm Media Ltd. to
acquire Space Systems International, Inc. through a tax free exchange of stock.
The transaction calls for SSI shareholders to exchange their SSI shares for
restricted 144 shares of Stratcomm Media Ltd.
"This is a wonderful acquisition for us," Roberto Veitia, Chairman of the Board
of Stratcomm Media Ltd. said. "It gives our shareholders an opportunity to
participate in the global economy as a provider of highly prized content, i.e.
high resolution images from Russian satellites (both archival and "on-demand").
In addition, through SSI's offices in Moscow, shareholders will have an
opportunity to participate in the wireless telecommunications industry."
"We will be streamlining our operations over the next few months in anticipation
of the change in focus of our efforts toward international opportunities,"
Veitia said. "This acquisition enables us to bring the key SSI executives
onboard as a new management team with substantial contacts and expertise in the
international arena for Stratcomm Media Ltd."
John Papazian, the CEO of SSI stated that: "We are very pleased by the synergy
that will arise as a result of this transaction. Dennis Appel, (President of
SSI) and I are working closely with the transition team from Stratcomm Media,
Ltd. to ensure everything runs smoothly. When everything is ratified and
approved by the shareholders Dennis and I will assume the leadership rolls of
CEO (myself) and President (Appel) of Stratcomm Media, Ltd. One of the first
things we will do as we move forward is complete (pending shareholder approval)
a one for ten (1 for 10) forward stock split. This will allow our shareholders a
greater chance to enhance and profit from their investment in SMMM. We hope to
announce the date for the forward split in the next two (2) weeks. For further
information please call Dee Colwell at 407 628-5700.
Safe Harbor Disclaimer: Certain statements contained herein constitute
forward-looking statements within the meaning of Section 27A of the Securities
Act and Section 21E of the Exchange Act. Such statements include, without
limitation, statements regarding business and financing plans, business trends
and future operating revenues and expenses. Although the Company believes that
the expectations reflected in such statements are reasonable, it can give no
assurance that such expectations will prove to be correct. Forward-looking
statements are typically identified by the words: believe, expect, anticipate,
intend, estimate and similar expressions, or which by their nature refer to
future events.
The Company cautions investors that any forward-looking statements made by the
company are not guarantees of future performance, and that the actual results
may differ materially from those in the forward-looking statements as a result
of various factors, including but not limited to, the Company's ability to be
able to continue its substantial projected growth, or be able to fully implement
its business strategies, or that management will be able to successfully
integrate the operations of its various acquisitions.
CONTACT: Dee Colwell
Stratcomm Media Ltd
407-628-5700
Copyright 2001 Internet Wire, All rights reserved.
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