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Anyone following this company. neworkcorp.com Nework Corp. Corporate Development Update TORONTO, Feb. 21 /CNW/ - NEWORK CORP. (CDNX: NWK) announces that it is pursuing a number of significant opportunities that have presented themselves over the past few months. The Company is in negotiations with a US based public company to become its joint venture technology partner. This company will be responsible for developing the core system which will serve as the backbone of the various Internet application initiatives. The application will be marketed globally. The Company has signed a Letter of Understanding with one of the dominant Korean recruiting firms to deliver an Internet recruiting solution for that market. The Company is in advanced stage negotiations to acquire a New York based recruiting company which would also serve as the Company's head office for the growth of its US recruiting operations. The Company is in negotiations with a Toronto based recruiting company with a view to acquiring this company, which operates in the finance and accounting sector. The Company is negotiating with a group of individuals who will form the nucleus of a Chicago office. No formal letters of intent, definitive agreements or contracts have been signed with respect to any of these opportunities. Nework Corp. is an Internet focused company that operates in the employment talent search industry. The Company integrates online and traditional recruiting techniques and is developing proprietary online career and talent management systems to further enhance the integration process. Nework Corp. - Talent For The New Economy This press release may contain forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results of operations may differ materially from those projected or suggested in the forward-looking statements. The forward-looking statements contained herein represent the Company's judgement as of the date of this release, and the Company cautions readers not to place undue reliance on such statements. These forward-looking statements should not be considered as an inducement for investment. THE CANADIAN VENTURES EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. -30- For further information: John Wiseman, Chief Financial Officer, Nework Corp., Phone: (416) 323-0944 ext 249, Fax: (416) 323-0230, E-mail: john@neworkcorp.com | ||||||||||||||
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