Sparx Technologies Group, Inc. (IPMG - pending new ticker symbol) Corporate Update
TORONTO, March 4, 2008 /PRNewswire-FirstCall via COMTEX/ -- Sparx Technologies Group, Inc., (previously International Precious Minerals Group), is pleased to announce that significant progress has been made to acquire its first operating division: WPSnet International.
As previously announced IPMG will be shifting its focus to the Technology sector. IPMG has launched a new corporate website www.sparxcorporate.com, and completed the name change to Sparx Technologies Group, Inc. with the State of Wyoming. The Company is awaiting its new ticker symbol, and as part of the corporate restructuring, the Company has initiated a reverse split of its shares on the basis of one new share for every 150 outstanding.
Outgoing CEO Brian Robertson said, "The Company being acquired, WPSnet International, www.wpsnet.com is a Danish technology company providing advanced Content Management Systems since 2001. WPSnet International was introduced to Sparx via the Mina Mar Group and MonArc Corporation. Mina Mar is the lead consultant to help close this transaction."
WPSnet has been among Europe's leading CMS companies since 2001, developing WPS - Web Publishing System(R) and its proprietary WPS - Web Publishing System(R) is one of the only Content Management Systems available that can deliver multiple language versions of client websites as a standard option. WPSnet currently provides translation in Danish, Spanish, English, French, German, Chinese, Hungarian, Norwegian, Japanese and Thai.
The incoming Sparx management team has also been presented with several options by the Mina Mar Group to acquire a second operating entity - a China-based technology company. Incoming CEO of Sparx, Mr. Jes Jasper, noted: "After Steen Elgaard of MonArc first put us together, we liked what we saw in the Mina Mar Group. We were very attracted, and excited by the opportunity to bring additional growth-based Chinese technology companies inside Sparx. We were also very impressed about Mina Mar's concept to incorporate share distributions to outside shareholders as new companies are acquired."
In related news, the Company will be electing new board members shortly, and appointing new officers and directors. The company has also retained Mina Mar for a term of 18 months as its exclusive investor relations firm. Additionally Mina Mar's mandate will also be to assist Sparx in obtaining the Pink Sheets check mark rating and to maintain other filings and regulatory matters.
The acquisition is anticipated to close within the next 30 days.
About the Mina Mar Group
Mina Mar provides corporate financial consulting services focusing on reverse mergers of private companies with publicly traded shell companies in the micro-cap and small-cap environment. The Company specializes in assisting private Chinese companies to gain access to capital markets in North America and Europe. www.minamargroup.com
Sparx Technologies Group, Inc.
Sparx Technologies Group, Inc. is listed on the pink sheets (IPMG - pending symbol change), and focuses on bringing highly promising technology based companies to public markets in the U.S. and Europe.
Its website is www.sparxcorporate.com
About MonArc Corporation
Founded in 2007, MonArc Corporation is fast becoming one of the hospitality-industry's leading providers of asset based systems and financing corporations in North America.
The company also operates a B2B division being a mergers and acquisitions division, which operates under the trade name IFGX. www.ifgx.com |
