THIS IS A NEW POST FROM THE VTEH WEB SITE. NOT A PRESS RELEASE. CHECK OUT WWW.VTEH.COM
------------------------------------------------------------------------
Le Nouveau Marche (Paris Stock Exchange)
VentureTech is in the process of finalizing an agreement with a major
Invesment-Finance/Brokerage firm located in Paris, France. The intent of
this agreement is to raise working capital funds for the company through
equity placement in France and Europe with the ultimate goal of a formal
listing on the Le Nouveau March‚ (a Paris, France stock market geared to
entrepreneurial companies with high growth potential). This is not meant
as a replacement for VentureTech's US stock market listing, but as a
supplemental listing in keeping with the company's strategy to be viewed
as a global entity. VentureTech was introduced to this French firm
through an arrangement with its investment banking firm in the United
Kingdom-Market Capital Corporation.
This financing/listing is expected to occur in two stages. In the first
stage, the financing entity will prepare a research analyst report on
the company, industry and the market potential. Management has met with
the analyst in France and has initiated the education process. Initial
feedback has been positive. The financing entity will further assist in
the registration of the company with the OTC (over the counter) market
(Societ‚ de Bourse Francaises) in France through which they will attempt
to place shares with investors. This step is a precursor to ultimate
movement to the Le Nouvea March‚.
In the second stage, the financing entity will assume the role of
advisor/market maker as it introduces the company to the Le Nouveau
March‚. They will assist in the various steps required by the market
authorities and auditors (Societ‚ du Nouveau March‚ and Commission de
Operation de Bourse), as well as assist in the development of an initial
prospectus. Once public placement of the shares occurs, as expected, the
financing entity will provide market making services to the company for
a minimum period of three years.
PTC Group, Inc. (OTC-PWRE)
On March 14, 1996 VentureTech entered into a convertible debenture
agreement with PTC Group (formerly Kaniksu-Intryst) for the principal
sum $3,000,000 that allows for a conversion into common shares of PTC
Group common stock at $1.50 per share. This debenture was received in
exchange for a sale of a VentureTech subsidiary to PTC Group in 1996. In
November of 1997, pursuant to a potential merger of PTC Group with
another entity, VentureTech agreed to a "buy-back" provision at $1.00
per share for up to 1,500,00 shares. This was deemed a necessary
condition for the merger to occur. Should the merger be finalized, with
the resulting entity properly capitalized as anticipated, VentureTech
stands to receive up to $1,500,000 (1,500,000 shares at $1.00 per share)
for working capital requirements in exchange for a portion of the
convertible debenture. The remaining balance of shares (500,000 or more)
would be retained for future investment and corporate purposes.
Additional details on the potential merger can be found at PTC Group's
website, pwre.com
Note: The above statements in regard to the Le Nouveau March‚ and PTC
Group, Inc. which are not purely historical are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including VentureTech's beliefs, expectations, hopes
or intentions regarding the future. All forward-looking statements are
made as of the date hereof and are based on information available to
VentureTech as of such date. It is important to note that actual outcome
and the actual results could differ materially from those in such
forward-looking statements. Factors that could cause actual results to
differ materially include risks and uncertainties such as technological,
legislative and marketplace changes. |
