SHAL BOUGHT OUT BY FUTUREVEST.COM.
Wednesday September 22, 5:56 pm Eastern Time
Company Press Release
SOURCE: Sara Hallitex Corporation
Sara Hallitex Corp to Merge Investment Banking and Sara-IPO Operations Into FutureVest.com
Company to Become Major Shareholder in Global Web-Based E-Finance Network
MARINA DEL REY, Calif., Sept. 22 /PRNewswire/ -- Garrett K. Krause, President and CEO of Sara Hallitex Corporation (OTC Bulletin Board: SHAL - news), confirmed that the Company has reached a merger agreement with FutureVest.com, Inc., a newly formed global e-finance company. Under terms of this agreement, FutureVest.com will acquire the investment banking, communications and SaraIPO operations of Sara Hallitex Corporation. Sara Hallitex will also receive special IPO stock allocation rights for the Company and its shareholders in all FutureVest.com Initial Public Offerings.
FutureVest.com, Inc., will begin operation with an initial $20 million financing commitment. FutureVest.com is currently planning to file a S-1 registration statement for its Initial Public Offering during the first quarter of calendar year 2000. Upon completion of the merger, all current investment banking, communications and SaraIPO operations of Sara Hallitex Corporation will become operating subsidiaries of FutureVest.com. Sara Hallitex will continue as a major shareholder and founding partner in FutureVest.com as it continues forward with its venture banking and finance operations.
Mr. Krause commented: ``This is a major step in the ongoing progress and growth of the original Sara Hallitex business model. Sara Hallitex intends to complete another restricted stock dividend that will allow our shareholders to participate directly in this groundbreaking e-finance company. If the FutureVest.com IPO can reach even modest industry market capitalization standards, then this deal could become a tremendous windfall for both Sara Hallitex and its shareholders.'
FutureVest.com aims to become a diversified global e-finance company providing an unparalleled variety of financial services over the Internet. Unlike any other company currently in operation, FutureVest.com will provide insightful and relevant financial research and content, offer and sell publicly traded securities including Initial Public Offerings, Mutual and Venture Capital funds, comprehensive commercial and merchant banking services, insurance and trust services, as well as mortgage and lending products and services, all under one ``roof,' and all fully customer-accessible around the globe, 24-hours a day, 7-days a week.
FutureVest.com will leverage cutting edge Internet technology to provide a multitude of traditional online brokerage services and will also act as a distribution channel, giving millions of individual investors the chance to participate in traditional direct IPO's on a global scale. In order to facilitate its planned IPO program FutureVest.com is currently negotiating to acquire a NASD Member Broker Dealer to operate as a subsidiary, which will become the lead underwriter and syndication manager for any of its offerings.
Akin to such successful Web-based investment banking and brokerage firms as E*TRADE Group, Inc. and WIT Capital Group, Inc., E*Offering, W.R. Hambrick & Co. and the IPO Syndicate unit of Mercer Partners, Inc., FutureVest will offer IPO's, Secondary & Follow-On Offerings, Private Equity and Venture Capital Investments, Research, Online Investing in stocks and mutual funds, all on an international scale. The Company will participate in the underwriting and distribution of these IPO's through ``deal flow' relationships with Sara Hallitex Corporation, SaraOnline.com, Inc. and other traditional syndicate relationships.
But beyond simply being another online stock brokerage and investment banking firm, FutureVest will focus on ever-increasing expansion with the goal of becoming an all-encompassing financial services house. The company will seek to vertically integrate such cutting edge products and services as online brokering, Web-based commercial banking, online insurance services, online retirement services and products including IRA's and 401K's, and online mortgage and lending services, creating a global e-finance standard, enhancing its product portfolio while increasing long term shareholder value.
Mr. Krause added: ``Shareholders that have been with Sara Hallitex since early 1998 have seen the Company go through a tremendous amount of growth and expansion and have benefited greatly from our generous dividend program. With the changing business environment and the booming IPO market, I felt it necessary to continue the Company's progress by negotiating a deal whereby Sara Hallitex and its shareholders-of-record will be granted a first right-of-refusal on all future IPO's underwritten and syndicated by FutureVest.com, a structure in many ways similar to our current SaraIPO program. It is hoped that these special IPO allocation rights will continually become invaluable to our shareholders who likely have difficulty participating in the current IPO marketplace.'
About Sara Hallitex Corporation
Sara Hallitex Corporation is a diversified public venture banking firm dedicated to acquiring and investing in companies, new technologies or projects that when fully developed will be ``spun off' as NASDAQ publicly traded companies, providing appreciable long-term portfolio enhancement for their shareholders.
Sara Hallitex Corporation and SaraOnline.com hold substantial equity portfolios in Janus International, Inc. (OTC Bulletin Board: JNUS - news), SolutionNet International, Inc. (OTC Bulletin Board: SLNN - news) USLab.com, Inc. (OTC Bulletin Board: ULAB - news), Tril-MediaNet.com, Inc. (OTC Bulletin Board: TMDN - news)and the forthcoming SaraIPO offerings SaraOnline.com, Inc. and TheMovieSource.com, Inc.
Statements in this release are made pursuant to the ``Safe Harbor' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risk and uncertainties, including, without limitation, continued acceptance of the Company's services, increased levels of competition for the Company and dependence on the performance of the Management of the Company.
For more information please look to the Company's World Wide Web pages at www.SaraHallitex.com and forthcoming website www.FutureVest.com.
SOURCE: Sara Hallitex Corporation
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