SFAD News out and I like it!
Friday February 5, 7:58 pm Eastern Time
Company Press Release
SOURCE: Safe Technologies International, Inc.
Safe Technologies International, Inc., Reports
Internet Acquisition Closing And Disclosure of Major SFAD
Shareholders Lock Up Agreements
PALM BEACH, Fla., Feb. 5 /PRNewswire/ -- Safe Technologies International, Inc., (OTC Bulletin Board: SFAD -
news) announced today that the Company has closed the Acquisition Agreement with Internet Associates International,
Inc. (IAI) in Boca Raton, FL.
Brad Tolley, Vice President of Investor Relations, said, ''We are very pleased to have closed the deal with Internet
Associates today, February 5, 1999, at our attorney's offices. Management had looked at several similar companies
during the past year, providing Web Hosting, Web Marketing and Design services, as Internet Associates' offer.
However, no other companies' management we looked at exhibited the strength in management skills, e.g., fiscal
responsibility, organizational expertise, etc., which the Internet Associates' Managing Directors demonstrate. Unlike most
Internet companies, Internet Associates is geared to expect profits. For example, January, 1999, IAI's unaudited
financials indicate a Net Profit of $40,000 for the month. A company like this is important to SFAD in several respects.
IAI conforms to SFAD's acquisition criteria: solid growth and Shareholder value.''
Management, in their continuing interest of providing SFAD shareholders with current information, also disclosed today
that the two largest SFAD shareholders and the management, together representing a 78% equity position in the
Company, have entered into Shareholder Agreements for further restrictions as to the sale of their SFAD stock, over and
above what the SEC 144 rule permits for volume sales in the next four quarters. Pursuant to that period, the shareholders
and officers will again review the market situation to ascertain the need for additional further restrictions.
Mr. Tolley said, ''Management has great expectations for 1999, based on the groundwork which was laid in 1998. It is
important to emphasize and reinforce in Shareholders' thinking that SFAD is a multi-faceted company, fast evolving into
an E-Corporation.''
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.
SOURCE: Safe Technologies International, Inc.,(SFAD)
CONTACT: Brad Tolley VP Investor Relations
TEL: 561-832-2700
EMAIL: investor.relations@safetechnologies.com
HTTP:// www.safetechnologies.com
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. |
