Joe, what do you think of this news?
(COMTEX) B: PROMARK SOFTWARE INC. - To Aquire clipclop.com
B: PROMARK SOFTWARE INC. - To Aquire clipclop.com
Vancouver, BC, May. 10, 1999 (Market News Publishing via COMTEX) --
Promark Software Inc. has announced its intention to aquire for shares,
subject to regulatory approval, all rights to the Internet entity
clipclop and to change the name of the Company to clipclop Enterprises
Inc. The Board also voted to delist from the Vancouver Stock Exchange
and following delisting to trade exclusively on the OTC Bulletin Board
for a period of time. The Company intends to pursue a NASDAQ small cap
listing as soon as circumstances as allows.
The terms of the transaction between Promark and Riverstone
Enterprises Inc, a corporation controlled by a director of Promark, to
acquire clipclop.com are as follows:
1. $5000 cash and 2,000,000 shares of Promark on closing.
2. 5,000,000 shares of Promark upon completion of equity
financing(s) totalling $6,000,000 within 9 months. The number of
shares to be prorated and released upon the completion of the
completion of all or any portion of the financing.
3. 3,000,000 shares on the successful online Internet Web
implementation of clipclop.com. The clipcliop.com web site will be
deemed to have been successfully implemented upon the completion of a
90 day in service period. |
