Biologix Announces Share Exchange.NEWPORT BEACH Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. , Calif.--(BW HealthWire)--Aug. 10, 1999-- Biologix International Ltd. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:BGIX) Tuesday announced that it has entered into a share exchange plan with thehealthchannel.com Inc. (OTC BB:THCL), formerly known as Innovative Tracking Solutions Corp. As announced on Aug. 4, 1999, Biologix entered into an agreement which involves the acquisition by thehealthchannel.com of Biologix's health-care Web site and related technology as well as an exchange of the majority of thehealthchannel.com's management shares which constitute a controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in the thehealthchannel.com. Thehealthchannel.com implemented a two-to-one market forward split of its stock, effective at the open of trading on Friday, Aug. 6, 1999. Concurrent with this action, thehealthchannel.com symbol has temporarily changed to THCLV identifying the post-split shares. All Biologix shareholders have the option of exchanging each share of Biologix for a share of post-split thehealthchannel.com stock beginning on Friday, Aug. 6, 1999 and ending on Friday, Sept. 3, 1999. Any Biologix shareholders who wish to exchange their Biologix shares for shares in thehealthchannel.com must send Biologix a properly completed and signed Letter of Transmittal Letter of Transmittal A document used by security holder to accompany certificates surrendered in an exchange or other corporate action. during this time period. Any Biologix shareholders not wishing to exchange their shares need not take any action in order to retain their Biologix shares. These instructions supersede To obliterate, replace, make void, or useless. Supersede means to take the place of, as by reason of superior worth or right. A recently enacted statute that repeals an older law is said to supersede the prior legislation. any prior instructions, specifically there is no longer a record date for the exchange of shares. This is an open exchange period. Biologix will send Letters of Transmittal and accompanying instructions to every shareholder listed in its transfer records, however, if you are a Biologix shareholder and you do not receive such a letter or if you want to ensure that we have your correct contact information, e-mail Biologix at "investorrelations@hotmail.com" or send mail to thehealthchannel.com Inc., 5000 Birch Street Birch Street may refer to:
e-mail address - electronic mail address . A copy of the Letter of Transmittal will also be posted at thehealthchannel.com Web site; just click on the "Investor Relations Investor relations The process by which the corporation communicates with its investors. " prompt on thehealthchannel.com home page at http://www.thehealthchannel.com. This news release may contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from the statements contained herein. Such risks and uncertainties include, but are not limited to, changes in the performance of the financial markets, changes in the demand for and market acceptance of Biologix's or thehealthchannel.com's products and services, changes in the mortgage and Internet industry, and the impact of competition. |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion