CXN Media Signs Definitive Agreement with Panpac Media.com.Business Editors MONTREAL--(BUSINESS WIRE)--Oct. 8, 2002 CXN CXN Checkerboard Nightmare (web comic) Media Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CXIN) today announced the signing of the definitive agreement with strategic partner Panpac Media.com of Singapore, a Singapore listed company listed company n → compañía cotizable listed company n → société cotée en Bourse listed company list n → (SGX-ST: PPM). Under the terms of the agreement, CXN Media will acquire majority 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 (60%) of the "Smart Investor business" for $900,000.00 USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. and Panpac will retain 40%. Smart Investors will provide CXN with over $1.2 million USD in consolidated revenues and a platform to continue the growth in PRC as well as other Asian markets. Smart Investor is a monthly magazine that explores opportunities and options available to the serious retail investor Retail Investor Individual investors who buy and sell securities for their personal account, and not for another company or organization. Notes: Retail investors buy in much smaller quantities than larger institutional investors. . The magazine carries in-depth coverage of fund management and unit trusts, the stock market, insurance, property, futures trading and currencies. CXN MEDIA CORPORATION is a provider of financial, economic and business information on the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China. CXN's correspondents source, produce and publish the most reliable information available with the highest accuracy, integrity and speed. CXN also provides business-consulting services to companies seeking to do business in China through its wholly owned division CXN Ventures. To find out more about China Xin Network Media Corporation (OTCBB: CXIN), visit our website at www.cxnonline.com, and our portal at www.cxnmedia.com. ABOUT PANPAC Panpac was incorporated in Singapore in October 1994. Within four years it grew to become a leading homegrown home·grown adj. 1. Raised or grown at home. 2. Originating in or characteristic of a locality: "Rock is homegrown music in the United States, evolved from blues and country and Tin Pan Alley" publisher of special interest magazines with publishing activities in Singapore and Malaysia. It was listed on the second board of the SGX-ST on 29 July 1998. The key to the Company's success lies in its ability to identify niche segments in Asia's fastest growing industries such as IT, finance and tourism. Supported by regional staff strength of about 150, Panpac publishes more than 30 titles in three different languages in Singapore and Malaysia. The company has recently gone through a repositioning and aims to build itself as a leading regional education and media company by way of mergers, acquisitions and strategic investments. The statements contained in this release which are not historical facts contain forward-looking information with respect to plans, projections or future performance of the company; the occurrence of which involves certain risks and uncertainties that could cause the company's actual results to differ materially from expected results. Such risks include the timing of implementation and the scope and success of the program described herein. |
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