Academy Resources, Inc. Signs Letter of Intent to Acquire a New York Based ISP.Business Editors/Technology Writers VANCOUVER, British Columbia--(BUSINESS WIRE)--May 9, 2000 Academy Resources, Inc., (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :ARSU) announced today that they have signed a Letter of Intent to acquire a New York based ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. . (Internet Service Provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. ) This ISP is a private company with the future of Internet technology at hand. Terms of the Letter of Intent are for Academy Resources, Inc. to acquire all the issued and outstanding shares of the private company. Pending shareholder approval, it is anticipated that the merger will close by the end of June. This private company is a startup Internet Service Provider ("ISP") based in NYC NYC abbr. New York City NYC New York City , with dial up access nodes in 152 of the nations largest cities whose target customers are small and mid size businesses. The company also provides cutting edge technology to its subscribers with a business card-size CD-ROM CD-ROM: see compact disc. CD-ROM in full compact disc read-only memory Type of computer storage medium that is read optically (e.g., by a laser). designed to be carried in a wallet. This card allows instant access to the subscribers Internet and E-mail account from any computer, anywhere in the US. FORWARD LOOKING STATEMENT Except for historical matter contained herein, the matters discussed in this press release are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements reflect assumptions and invoke risks and uncertainties, which may affect the Company's business and prospects and cause actual results to differ material from these forward-looking statements. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion