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fastwebsites.com VSE Notices - Notice Notices are available for companies which are currently listed on the VSE. GLOBAL NET ENTERTAINMENT CORP. ("GET") [formerly Mt. Tom Minerals Corp. ("MTK")] NOTICE TYPE: Filing Statement, Change of Business, Escrow Agreement, Shares for Debt, Name Change NOTICE DATE: October 20, 1999 The Vancouver Stock Exchange has accepted for filing the Company's Filing Statement dated October 14, 1999 which discloses the following transactions: Change of Business The Vancouver Stock Exchange has accepted for filing an agreement dated May 18, 1999 between Julius Csurgo and Peter Zmudzki (the 'Vendors') and the Company. The Company has agreed to issue 2,500,000 escrowed performance shares to the Vendors in exchange for all the shares of Global Net Entertainment Corp. ('Global'). For more information about the business of Global, please refer to the Company's Filing Statement dated October 14, 1999. Escrow Agreement The Vancouver Stock Exchange has accepted for filing an escrow agreement dated October 4, 1999 between Pacific Corporate Trust Company, Julius Csurgo, Peter Zmudzki (the 'Vendors') and the Company. The Vendors are entitled to a release of one escrowed performance share for each $0.12 of audited Cumulative Cash Flow as defined by VSE Policy 19. Any performance shares not earned out of escrow within the 5 years ending October 20, 2004 must be surrendered for cancellation. The 2,500,000 escrowed performance shares shall be issued as follows: Julius Csurgo 1,250,000 Peter Zmudzki 1,250,000 Shares for Debt The Vancouver Stock Exchange has accepted for filing the Company's proposal to issue 92,593 shares at a deemed price of $0.27 per share to settle outstanding debt as follows: Creditor Price Shares Amount Owing Sheldon Kales $0.27 92,593 $25,000.00 The Company shall issue a news release when the shares are issued and the debt extinguished. | ||||||||||||
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