To: scouser (855 )
From: ocmayor Monday, Jan 11 1999 1:42PM ET
Reply # of 2355
eCONNECT (OTC:BB: BETT) ISSUES “STATE OF THE COMPANY ADDRESS”
- January 11, 1999 –
To: eConnect shareholders
From: E. James Wexler, Chairman & CEO of eConnect
Thomas S. Hughes, President of eConnect
On Wednesday January 6, 1999, Betting Inc. (OTC:BB: BETT) and eBet, Inc (a private
Nevada Corporation) announced that they have reached an agreement to merge.
This agreement is pending shareholder approval at the annual shareholder's meeting to be
held in March in Las Vegas, Nevada.
A news release regarding this agreement follows.
Company profiles of Betting Inc. and eBet, Inc. follow the news release.
*(Company profiles are prior to this announced merger)
Key points in the attached news release include:
- eBet, Inc. shareholders to own approximately 52 percent and Betting, Inc. (OTC:BB:
BETT) shareholders to own approximately 48 percent of the merged company.
- The merged company will be renamed eConnect and retain the stock ticker symbol
(OTC:BB: BETT).
- E. James Wexler will be chairman, chief executive officer and
president of eConnect.
- Thomas S. Hughes will be vice chairman of the eConnect Board and President of the
eGate division which will focus on the previous business of Betting Inc.
- Anthony L. Hall will be the third member of the eConnect Board of Directors and
President of the eGaming division which will focus on the previous business of eBet,
Inc.
- The 5-member eConnect Board will include 2 directors from Betting Inc. (OTC:BB:
BETT) 2 directors from eBet, Inc. (Nevada) and 1 outside and independent director, with
extensive Wall Street Management and Consulting experience.
- eConnect will be incorporated in Nevada in the near future.
- Worldwide Headquarters for eConnect will be chosen within the next 30 days.
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