Internet Direct Best Bargain On the Internet IDX on VSE

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Internet Direct Best Bargain On the Internet IDX on VSE

An SI Board Since January 1999

Posts	SubjectMarks	Bans
102	2	0

Emcee: Michael Page	Type: Unmoderated

Introduction Compact

IDX. (VSE)

Attention Business Editors:

Internet Direct and Tucows sign definitive share exchange agreement

VSE SYMBOL: IDX

VANCOUVER, Jan. 13 /CNW/ - The Company is pleased to announce that it has
entered into a Share Exchange Agreement with Canada Internet Direct Inc.
(''CID''), Tucows Interactive Limited (''Tucows'') and its wholly-owned
subsidiary, 3564185 Canada Inc. (''TISP''), among others. Under the Share
Exchange Agreement the Company will acquire all of the outstanding shares of
TISP in exchange for 55% of the outstanding shares of the Company as at the
closing date, after giving effect to the transactions under the Share Exchange
Agreement. The outstanding options and warrants to acquire shares of TISP will
become options and warrants to acquire shares of the Company. As a result, the
directors, officers and employees of TISP will hold 55% of the outstanding
options and warrants of the Company immediately after closing.
Prior to completion of the Share Exchange Agreement, Tucows will transfer
to TISP its Internet Direct business. Immediately after IDX acquires the
shares of TISP it will amalgamate with CID, TISP and a company affiliated with
TISP. Completion is expected to occur on or before January 29, 1999.
The Company has agreed to become a reporting issuer in Ontario and, to
that end, use its best efforts to file and obtain a receipt for a (final)
non-offering prospectus from the Ontario Securities Commission by June 30,
1999.
In connection with the Share Exchange Agreement, Michael Cytrynbaum,
Lance Tracey and Scott Shaw will enter into a Voting Agreement with Tucows and
John Nemanic, William Campbell and Colin Campbell, the principal shareholders
and senior management of Tucows. The parties to the Voting Agreement will vote
the shares of the Company held by them and certain related parties such that
the board is comprised of the nominees of each of them (other than Tucows). In
addition, they will elect a nominee to be agreed upon by Mr. Cytrynbaum, on
the one hand, and John Nemanic, William Campbell and Colin Campbell, on the
other hand.
Under the Voting Agreement, the parties have also agreed to appoint Mr.
Nemanic as the Chief Executive Officer and President, William Campbell as Vice
President, Technology, Colin Campbell as Vice President, Marketing and
Operations, Mr. Cytrynbaum as Chairman of the Board and Mr. Tracey as Chief
Integration Officer. The Voting Agreement will expire on the earlier of July
1, 2000 and completion of a public offering of equity securities resulting in
gross proceeds of not less than Cdn.$10,000,000.
Completion of the Share Exchange Agreement is subject to the approval of
the Vancouver Stock Exchange.

ID INTERNET DIRECT LTD.

(Signed)
LANCE TRACEY, DIRECTOR

-30-
For further information: Gordie Campbell, Investor Relations, by
telephone at (604) 641-2740, 1-888-439-2897 if calling from outside the Lo
Mainland, or by email to netgains@direct.ca

I.D. INTERNET DIRECT LTD. has 8 releases in this database.

Go to reply# or date (mm/dd/yy):

Reply	Message Preview	From	Recs	Posted
102	New thread formed for Look Communications. Subject 33622	HubTech	-	3/6/2000
101	he is the link for the Inuk deal.... inukshuk.ca	Jim P	-	10/27/1999
100	Has anyone done the math to figure out what the shares o/s, the float, and the	HubTech	-	10/25/1999
99	SHAREHOLDERS APPROVE LOOK COMMUNICATIONS AND INTERNET DIRECT MERGER Toronto,	Jim P	-	10/25/1999
98	It's probably riding the coat tails of Microcell at this point. I only wis	HubTech	-	10/23/1999
97	Interesting read at the site below for IDX investors. good day today lets hope	Jim P	-	10/22/1999
96	Hub, interesting day today, stock up to $5.15. Whats up? Jim	Jim P	-	10/22/1999
95	interesting article on wireless.... zdnet.com	Jim P	-	10/20/1999
94	This is relevant because of the amalgamation. <b>Excel and LOOK Partner	HubTech	-	10/6/1999
93	More significant, I think, was the CRTC decision last week ordering the cable c	seeker1	-	9/25/1999
92	IDX hits 150,000 subscriber level: mydirect.com iDirect Investor Relations Pr	Glenn Petersen	-	9/25/1999
91	Regarding today's directive from the CRTC that the cable companies must &qu	seeker1	-	9/15/1999
90	Greeting's ya'll Being a Idirect customer I get a weekly update from t	Moosie	1	9/11/1999
89	donkeyman, Do your own math (and DD) instead of asking me to do it for you in	HubTech	-	9/8/1999
88	Hub: What is the valuation per subscriber of IDX:VSE .??? I understand Intern	donkeyman	-	9/8/1999
87	Sorry for the delay in responding, Dale. No, I guess I missed the photo of our	HubTech	-	9/8/1999
86	This came out on Sept. 2. I.D. Internet Direct Ltd	HubTech	-	9/8/1999
85	Didja see the John Nemanic photo in the NP thursday, suspenders and cuff links,	dale w ruckle	-	9/4/1999
84	I wish they would have identified the board members of the amalgamated company	HubTech	-	9/1/1999
83	News Release I.D. Internet And Look Communications enter amalgamation	HubTech	-	9/1/1999
82	I don't think that it's a reality yet, Dale. From what I understand th	HubTech	-	8/17/1999
81	Could someone out there in ontario who is using the Look Comm sat dish for hisp	dale w ruckle	-	8/17/1999
80	I am not saying they won't keep the balls in the air, who knows in this wor	dale w ruckle	-	8/15/1999
79	Dale, My understanding is that "Tracy, Cytranbaum, etc al." have ver	HubTech	-	8/15/1999
78	this is going to be entertaining the grand gekko, Sirois setting up house with	dale w ruckle	-	8/15/1999

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