EKNO blasts off on LOI news.... me missed it, for now...impact dates of Jan 16 and Jan 31.
Penny King Holdings Corporation to Acquire 3,000,000 Shares Of eKnowledge
Group, Inc. for $1.5 Million
WASHINGTON and CORONA, Calif., Jan 2, 2002 /PRNewswire via COMTEX/ -- Penny
King Holdings Corporation, (PKH) a Delaware private investment holding company
and eKnowledge Group, Inc. (OTC Bulletin Board: EKNO) jointly announced today
that (PKH) has entered into a letter of intent to acquire 3,000,000 shares of
eKnowledge Group, Inc. common voting stock in a private transaction valued at
$1.5 million.
The transaction is subject to a Definitive Agreement being signed by no later
than January 16th, 2002 and a Closing Date of January 31st, 2002.
PKH and EKNO have entered into discussions for a licensing arrangement for a new
technology commonly known as ThoughtWare as it applies to the field of
education. "This technology will allow users of any handheld or desktop device
to communicate commands to their computers without a keypad, mouse, keyboard or
voice recognition," a spokesperson for PKH stated.
Background research on present applications of older versions of this new
advanced technology may be found at ibva.com .
"We have chosen to invest in eKnowledge Group, Inc. because of their track
record of excellence, their commitment to modernizing the systems of education,
and the outstanding integrity of the Board of Directors and its Officers", said
Mr. Acs, President of PKH.
"Mr. Acs is a truly one-of-a-kind figure with an immensely bold vision for the
future," said Gary S. Saunders CEO of eKnowledge Group, Inc., "We are excited to
work with Penny King Holdings and expect great things to develop out of this
relationship."
About Penny King Holdings Corporation
Penny King Holdings Corporation is a private Delaware Investment Holding Company
owned and controlled by Hungarian born financier Gabor Sandor Acs who has 21
years experience in the finance, real estate, venture capital, and world
financial markets.
PKH has exclusive Western Hemisphere distribution rights to a whole new series
of technologies under agreements with The Free and Clear Foundations of America,
Inc. a DC-based non-profit organization.
PKH is continuing its process of facilitating over $200 million in capital
investments to 50 different publicly and privately owned companies in the United
States, Canada and Hungary and most recently acquired 2.3 million shares of
Quintek Technologies, Inc., (OTC Bulletin Board: QTEK) another California
technology company.
More information may be found by visiting thepennyking.com .
About eKnowledge
eKnowledge Group, Inc. is a multifaceted e-learning provider with content in the
corporate and local government compliance areas as well as other e- learning
offerings. eKnowledge also facilitates customized e-learning by designing or
implementing other organizations' training, education, marketing, and other
programs for delivery over the Internet or on CD-ROM or DVD.
For additional information, visit the company's website at
eknowledge.com .
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: This news release contains forward-looking information within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements that include
the words "believes," "expects," "anticipates" or similar expressions. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause the actual results, performance or achievements of
eKnowledge Group Inc. (the company) to differ materially from those expressed or
implied by such forward-looking statements (such factors include, among others,
the risk factors contained in the company's Annual Reports and other filings
with the Securities and Exchange Commission). In addition, a description of
anyone's past success, either financial or strategic, is no guarantee of future
success.
The company will remain dependent upon future financing for its growth and
development, and for it to successfully implement its business plan. No
statement contained herein should be construed as indicating that such financing
is or will be available, and if available, will be on terms favorable to the
company.
This news release speaks as of the date first set forth above and the company
assumes no responsibility to update the information included herein for events
occurring after the date hereof.
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SOURCE Penny King Holdings Corporation
CONTACT: Robert Kennedy, Investor Relations, of Current Capital,
+1-877-859-5200 or Robert@currentcapital.com, for eKnowledge
roup, Inc.
URL: ibva.com
prnewswire.com
Copyright (C) 2002 PR Newswire. All rights reserved.
-0-
KEYWORD: District of Columbia
California
Delaware
INDUSTRY KEYWORD: FIN
SUBJECT CODE: TNM
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