IDX has announced another acquisition. A TSE or Nasdaq listing would do big things for this stock.
biz.yahoo.com
Monday May 10, 8:59 am Eastern Time
Company Press Release
SOURCE: I.D. Internet Direct Ltd.
I.D. Internet Direct Announces Acquisition to Enhance Relationship with BCT.Telus Communications Inc.
TORONTO, May 10 /PRNewswire/ -- I.D. Internet Direct Ltd. is pleased to announce the acquisition of Powerlink Services Ltd., an Internet Service Provider with approximately 5,000 subscribers in the central and southern interior of British Columbia. Effective April 30,1999, Internet Direct acquired certain assets of Powerlink Services Ltd. for nominal cash consideration and a covenant to cause the release of certain indebtedness of Powerlink Services Inc.
The acquisition is at the request of BCT.TELUS Communications Inc., further strengthening the relationship between the company and Internet Direct.
With the recent agreement to purchase the shares of Delphi SuperNet Inc. and now assets of PowerLink Services Ltd., I.D. Internet Direct is moving closer to achieving a key corporate objective of 150,000 dial-up subscribers by December 31st, 1999. I.D. Internet Direct currently has 29 local access points and serves over 127,000 unique subscribers across Canada.
''Internet Direct is committed to expanding our presence in Canada and to continue strong national leadership in the ISP industry,'' says John Nemanic, President and C.E.O. of I.D. Internet Direct Ltd. ''We are pleased to announce another acquisition putting us ahead of our current business plan.''
About I.D. Internet Direct Ltd. (http://www.idirect.com)
I.D. Internet Direct Ltd. (Vancouver: IDX - news) provides a full spectrum of Internet Solutions to customers in the provinces of British Columbia, Alberta, Manitoba, Ontario and Quebec with headquarters in Toronto. Now the largest Canadian independent Internet Service Solutions Provider, Internet Direct serves over 127,000 subscribers and businesses through 29 local access points nationally.
For additional information about Internet Direct, please contact Gordie Campbell, Investor Relations by telephone at: 1-888-439-2897 or by Email to netgains@direct.ca. Visit our web-page at idirect.com
John Nemanic
President and CEO
I.D. Internet Direct Ltd.
SOURCE: I.D. Internet Direct Ltd. |
