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Microcap & Penny Stocks : Calton, Inc. (CN) -- Ignore unavailable to you. Want to Upgrade?

To: chalu2 who wrote (19)	2/8/2000 7:32:00 AM
From: Glenn Petersen	Read Replies (1) \| Respond to of 67

News, though not necessarily in the direction we were hoping. I found this on the Yahoo thread. It does not appear as if the company issued it through either PR Wire or Business Wire. cfonews.com Calton: Acquires Interest in PrivilegeOne FOR IMMEDIATE RELEASE --------------------- February 4, 2000 FOR FURTHER INFORMATION CONTACT: ------------------------------- Anthony J. Caldarone Chairman, President and Chief Executive Officer Calton, Inc. (732) 212-1280 Financial news website: www/cfonews.com/cn Calton Acquires Interest in PrivilegeOne Networks, Inc. ------------------------------------------------------- Red Bank, New Jersey, February 4, 2000 - Calton, Inc. (AMEX-CN) announced today that it has acquired a controlling interest in PrivilegeOne Networks, Inc., a newly formed company engaged in the development of a co-branded loyalty credit card program. The purchase price for the interest was comprised of $105,000 in cash and a warrant to acquire 1,200,000 shares of Calton Common Stock at an exercise price of $2.50 per share. The warrant becomes exercisable only if PrivilegeOne surpasses certain earnings targets. In addition to its equity investment, the Company has agreed to loan up to $1.5 million to PrivilegeOne. Anthony J. Caldarone, Chairman and Chief Executive Officer of Calton, stated that "we believe that PrivilegeOne has some fresh and promising ideas with regard to the development of co-branded loyalty cards. Our investment in PrivilegeOne provides the Company with an opportunity to enter into a new field without the infusion of significant capital. In addition, we continue to actively analyze other opportunities to deploy the funds generated by our sale of Calton Homes at the end of 1998."