Callmate Telecom International Inc. to Acquire 100% of Global Voice Data Communications S.A.Business Editors & High-Tech Writers LEEDS, England--(BUSINESS WIRE)--July 31, 2000 Callmate Telecom International Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :SAFF SAFF South Australian Farmers' Federation SAFF Self-Adjusting Feed-Forward (amplifier) SAFF Sub-culture Alternatives Freedom Foundation (Leeds, UK) SAFF Sodium Aerosol Filter Fixture SAFF Store and Forward Facsimile ) (Callmate) has agreed to terms to acquire 100% of Global Voice Data Communications S.A. (GVDC) a Bahamian Corporation for a consideration to be satisfied by a mixture of cash and the issue of stock. GVDC has its corporate head quarters in Washington DC. GVDC is an International VOIP (Voice Over IP) A digital telephone service that uses the public Internet as well as private backbones instead of the traditional telephone network. Many companies, including Vonage, 8x8 and AT&T (CallVantage), typically offer calling within the country for a (voice over Internet Protocol) carrier serving the Middle East and South East Asia through its own IP network. GVDC owns the first Arabic Ethnic Video Streaming portal, which is one of the most popular Video Streaming and Interactive sites on the web. Intertent, which is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of GVDC, has been acknowledged by Snap.Com, Netscape and Goto.Com as being one of the leading ethnic sites. Intertent has developed its own proprietary cutting edge interactive web and TV software on the SMX SMX Search Marketing Expo SMX Sulfamethoxazole SMX Server Macro Expansion SMX Santa Maria, CA, USA - Santa Maria Public Airport (Airport Code) SMX SonicsMX SMX Smithway Motor Xpress, Inc. , LISP mainframe platform, allowing Intertent to place video content on the web faster and cheaper than other video streaming companies. GVDC's other interests include exclusive contracts to provide data services in Saudi Arabia. It has entered into an agreement in Bangladesh to acquire 10% of an 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. license to provide telecom and Internet services. Per that contract, it has completed a $2.5 million contract with a US carrier for use of its network in Bangladesh. GVDC has released its first prototype for online share trading in the Middle East in Arabic and is currently negotiating with an online brokerage house in the United States for this service, which it anticipates will be launched in the 1st Q 2001. Mahmoud Hashmi (Chief Executive of Callmate) said, "I believe the acquisition of GVDC will enhance our Telecom and Internet infrastructure and allow Callmate to enter into the arena of VOIP, Video Streaming and VOD See video-on-demand. VoD - video on demand (voice on demand) using GVDC's proprietary software. As part of its continuing efforts to diversify its interests and move firmly into the realm of electronic commerce, Callmate is confident of the success that the acquisition of this niche player will bring." Shahal M. Khan, Managing Partner -- Co founder of GVDC will be given a seat on the main board of Callmate and will head its new Internet and Video division with GVDC's second Managing Partner Said C. Kiwan. Forward-looking statements in this release are made pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provision 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. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of the competition for the Company's new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. |
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