To: Israel who wrote (14459 ) 8/24/1999 3:31:00 PM From: LANCE B Respond to of 108040
(COMTEX) B: Triden Telecom Inc. and Virtual Enterprise Inc. Have Sign B: Triden Telecom Inc. and Virtual Enterprise Inc. Have Signed Letter of Intent TYLER, Texas, Aug 24, 1999 (BUSINESS WIRE) -- Robert S. Hardy, CEO of Triden Telecom (OTC BB:TRIT), announced today that theyhave signed a letter of intent for the acquisition of Virtual Enterprise Inc. (dba, Virtual Island Casino) by a subsidiary of Triden in a tax-free, stock-for-stock exchange. According to the terms of the Letter of Intent agreement, which sets forth the basic terms pursuant to which Triden Telecom would acquire Virtual Enterprise Inc. (a Bahamas corporation), Triden will acquire Virtual Enterprise Inc. through a stock purchase agreement by a newly formed subsidiary of Triden in which the subsidiary will acquire a 100% of Virtual Enterprise (including all options, Warrants, etc., and any shares issued upon the exercise of any options, Warrants, etc.) for 49% of the newly formed subsidiary, www.virtualislandcasino.com Virtual Enterprise Inc. Telephone: 888/405-5816 Mr. Marc Bouchard will serve as the companies' Executive Vice President and CFO. The acquisition of Virtual Enterprise Inc. is a major step towards providing value for Triden shareholders. The management of all combined companies believes Triden is on a direct route to become a major player in E-Commerce and Web Hosting. Mr. Hardy is looking for other Mergers or Acquisitions for Triden to bring further value to the combined companies. This information herein contains forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995), which reflect the views of TRIT and the proposed new members of management with respect to the future events. These forward-looking statements are subject to certain uncertainties and other factors that could cause actual results to differ materially from such statements. Readers are cautioned not to place undue reliance on these forward looking statements, which speak only as the date the statement, was made. There can be no assurance that the forward-looking information contained herein will in fact transpire. Copyright (C) 1999 Business Wire. All rights reserved. -0- CONTACT: Triden Telecom Inc., Tyler Robert S. Hardy, 903/581-2040 Fax: 903/581-2272 Email: triden@iamerica.net or Marc Bouchard, 450/372-9563 www.tridentelecom.com WEB PAGE: businesswire.com GEOGRAPHY: TEXAS INDUSTRY CODE: COMED TELECOMMUNICATIONS INTERACTIVE/MULTIMEDIA/INTERNET MERGERS/ACQ Today's News On The Net - Business Wire's full file on the InternetTRIT- just picked up some on news