SFAD News!!! (inside)
(PR NEWSWIRE) Safe Technologies International, Inc., Diversifies With Addi
Safe Technologies International, Inc., Diversifies With Additional Internet
Company Acquisition
PALM BEACH, Fla., Feb. 2 /PRNewswire/ -- Safe Technologies International,
Inc. (OTC Bulletin Board: SFAD), announced today that they have entered into
an Acquisition Agreement with Internet Associates International, Inc., a Boca
Raton, FL-based company, which will close on or before February 5, 1999.
Brad Tolley, Vice President of Investor Relations, reports that, "Pursuant
to the Company's foray into E-Commerce, via INCyberMall.com, (the mall for the
'rich and famous') and our business plan of increasing Shareholder value,
exponentially, by rolling up Internet company acquisitions, we are pleased
that an agreement has been completed with Internet Associates. They bring to
our group an additional and compatible levels of Internet services to the
existing Company's E-Commerce specialization."
Internet Associates International, Inc., (IAI) is an Internet marketing
and web site development firm involved in the development, marketing, and
hosting of web sites, as well as the training of web developers. IAI owns and
maintains five Internet Servers, on location, with direct redundant T-1
connections to the Internet. The Internet servers are equipped with secure
commerce, e-commerce applications, shopping cart facilities and database
driven applications.
IAI specializes in quality 'market-driven' web sites that unleash the
power of the Internet, combining innovative web design and programming with
traditional marketing and advertising elements especially designed to promote
interactivity and volume response to each customers web site. Currently, IAI
offers web services to over 3000 customers nationally. Training Programs
offering Web Master Certificates to Ft. Lauderdale Art Institute Graduates
round out the IAI Internet services.
The terms of the Acquisition are a stock-for-stock transaction, wherein
agreements after closing, for sale of their SFAD stock. The acquisition price
is based on a formula of IAI Net Profits for the Year 1999. Earnings are
projected to be a minimum of $400,000 on projected Revenues of $1,500,000.
Directors will each enter into a three year Employment Agreement with the
Company.
Safe Technologies International, Inc., based in Palm Beach, Florida, is a
multi-faceted company with multiple areas of concentrations: Internet,
Technology, and Heath Care/Wellness.
Forward-Looking Statements: Except for the historical information
contained herein, this news release may contain forward-looking statements
within the meaning of Section 27A of the Securities Act of l934, as amended,
that may involve risks and uncertainties, including unproven market for SFAD's
products and services, the availability of suitable financial resources, the
availability of management, as well as other risks detailed from time to time
in the Company's SEC reports, including reports on Form 10KSB for the year
ended November, 1997 and Form 10-QSB for the quarter ended September 30, 1998.
SOURCE Safe Technologies International, Inc.
-0- 02/02/99
/CONTACT: Brad Tolley, VP Investor Relations, Safe Technologies,
561-832-2700, or e-mail, investor.relations@safetechnologies.com/
/Web site: safetechnologies.com
(SFAD)
CO: Safe Technologies International, Inc.; Internet Associates International,
Inc.
ST: Florida
IN: CPR MLM
SU: TNM
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