CathayOnline Inc. Announces Agreement and Strategic Alliance With Premier Brands Inc. and Sale of CMD Capital Limited / PRCInvest.com.Business Editors NEW YORK--(BUSINESS WIRE)--June 30, 2000 CathayOnline Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CAOL), through its 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. , CathayOnline Technologies (HK) Co. Ltd., announced the sale of its interest in CMD CMD cerebromacular degeneration. Capital Limited (CMD) / PRCInvest.com (financial portal Financial Portal A website that provides a variety of financial data and information, acting as an information hub for clients who are individual investors requiring timely financial news and data to make their investment decisions. ) and a strategic alliance with Premier Brands Inc. CathayOnline Inc. has sold CMD Capital Limited to Premier Brands in consideration for 1,750,000 of common shares of Premier Brands valued at U.S. $6. per share for the purposes of the Agreement and all of the transactions contemplated between the Companies. Through this transaction, CathayOnline Inc. has received an equity interest in Premier Brands enabling the two companies to develop a strong strategic alliance. CathayOnline will assist Premier Brands in the implementation of a broad array of compelling financial content and other strategic portals for the Chinese speaking market. Premier Brands intends to become a leading Internet content company focusing on the Chinese-speaking community. The company's mission is to become a major financial portal providing business and financial news; real time stock quotes; and, both regional and international business information. The content of this portal will be provided in both Simplified and Traditional Chinese as well as English. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. CathayOnline's President, Mr. Brian Ransom Brian Ransom (born June 6, 1940) was a Manitoba politician. In 1983, he unsuccessfully ran for the leadership of the Progressive Conservative Party of Manitoba. Ransom was born in Boissevain, Manitoba, and was educated at the University of Manitoba and the University of , "...this strategic relationship will enable CathayOnline to focus its efforts on its core business of developing registered Internet users and expanding its service in the Chinese market." Mr. Ransom added, "...additionally this will significantly reduce our projected expenditures for development and increase the intrinsic value Intrinsic Value 1. The value of a company or an asset based on an underlying perception of the value. 2. For call options, this is the difference between the underlying stock's price and the strike price. to our shareholders." About CathayOnline: CathayOnline is aggressively striving to become a leading fully-diversified Internet company targeting Chinese-speaking markets of the world, with primary focus on the People's Republic of China. Through key acquisitions, joint ventures, and prestigious international and domestic alliances, the Company is facilitating the delivery of products and services in two high growth areas: (1) as an Internet Service Provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. as the backbone and (2) advanced communications through the use of the Internet. More information can be obtained about CathayOnline by visiting http://www.cathayonline.com. CathayOnline Inc. For further information contact Sheila Bennett at CathayOnline's Vancouver Office 604/687-8381. Statements included in this press release which are not historical in nature, are intended to be, and are hereby identified as "forward-looking statements" for purposes of 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. provided by Section 21E of the Securities Exchange Act of 1934, as amended by Public Law 104-67. Forward-looking statements may be identified by words including "anticipate", "believe," "intends," "estimates," "expect," and similar expressions. The Company cautions readers that forward-looking statements, including without limitation, those relating to the Company's future business prospects are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. |
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