AdvanteXCEL.com Communications Corporation To Acquire E Commerce Networks.Business Editors TORONTO--(BUSINESS WIRE)--Oct. 24, 2000 AdvanteXCEL.com Communications Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AVXCF)(CDNX CDNX See Canadian Venture Exchange (CDNX). :YAX.U)(the "Company"), a growing market leader in Internet communication systems, wishes to announce that it has made an offer to acquire all of the issued and outstanding shares of E Commerce Networks Inc. ("ECNI") from its nine arm's-length shareholders in consideration for the issuance of up to 1,250,000 common shares of the Company priced at US$0.24 per share and up to $250,000 in cash. 500,000 common shares of the Company will be delivered on closing, an additional 500,000 common shares will be delivered if ECNI achieves gross sales Gross Sales A measure of overall sales that isn't adjusted for customer discounts or returns, calculated simply by adding all sales invoices, and not including operating expenses, cost of goods sold, payment of taxes, or any other charge. of $1,500,000 for the fiscal year ending October 31, 2001, one (1) additional share will be delivered for every $2.00 in gross sales over $1,500,000 up to $2,000,000 in gross sales (a maximum of 250,000 common shares) and $0.25 will be paid for every $2.00 in gross sales over $2,000,000 to a maximum of $2,500,000 in gross sales (a maximum of $250,000 in additional consideration). Closing is scheduled for early to mid November subject to regulatory approval and completion of due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. by the parties. ECNI is involved in the worldwide sales of websites to first time users, home-based businesses and many other customers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada. For more information on the business of ECNI, please see the Company's press release dated August 28, 2000. AdvanteXCEL's systems and products integrate fax, voice and e-mail technologies allowing users to access messages at anytime from any location. No specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. software is needed, only a computer with an Internet connection for access to the AdvanteXCEL website. AdvanteXCEL is publicly traded on the Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) (CDNX) under the symbol "YAX.U". AdvanteXCEL has offices in Toronto, Pittsburgh and Buffalo. For more information, contact Mr. Marshall Weinstein, President of AdvanteXCEL at marshlw@fnmail.com or visit AdvanteXCEL's website at www.advantexcel.com. ANYTIME, ANYWHERE, YOU'RE CONNECTED AdvanteXCEL Communications 247 Cayuga Rd., Suite 70 Cheektowaga, NY 14225 This news release may include statements that constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Please be cautioned that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements as a result of any number of factors, including risk factors contained in the Company's disclosure documents. The Canadian Venture Exchange has neither approved nor disapproved of the contents of this press release. |
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