CasinoBuilders.com Inc. and Proxity, Inc. Enter Into Letter of Intent.Business Editors NEW ORLEANS, La.--(BUSINESS WIRE)--May 8, 2001 The companies jointly announced that their respective Boards of Directors have unofficially agreed to enter into a letter of intent to merge Proxity, Inc. ("Proxity") with a newly formed subsidiary of CasinoBuilders.com, Inc. ("Casino") (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CSBD). According to the terms of the merger, Proxity's shareholders will receive $8,000,000 of newly issued shares of restricted Casino voting stock Voting stock The shares in a corporation that entitle the shareholder to vote. voting stock Stock for which the holder has the right to vote in the election of directors, in the appointment of auditors, or in other matters brought up at the in exchange for the cancellation of all of their ownership interests in Proxity. Proxity is an Internet software developer and commercial web site developer (www.proxity.com). Proxity's founders have built sites for some of the leaders in the entertainment industry. Their client list includes the entertainment giants Walt Disney Pictures (DIS), Sony Pictures Entertainment (SNE SNe Supernovae (astronomy) SNE Sony Corporation (stock symbol) SNE Syndicat National de l'edition (French Publisher's Association) SNE Society for Nutrition Education ), Warner Brothers (AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. ), and Pixar (PIXR). The founders' multimedia work has received industry recognition and won numerous awards. Casino plans to acquire additional companies in the Internet technology area. The current sites owned by the company are www.casinobuilders.com, www.funtrivia.com, www.triviaspot.com. The company's primary focus will be in the entertainment wireless/Internet application area. With the exception of historical information described above, this release includes forward-looking statements made under 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. " 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 statements involve substantial risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. |
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