CathayOnline Not to Proceed With Preferred Stock Offering.NEW YORK--(BUSINESS WIRE)--Nov. 30, 1999-- CathayOnline Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CAOL) announced today that it has determined not to proceed with its previously announced private offering of Series A Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . CathayOnline will be exploring other financing alternatives. CathayOnline is aggressively striving to become a leading fully-diversified Internet company targeting Chinese-speaking markets of the world, with primary focus in the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Taiwan, Singapore, Malaysia. Through key acquisitions, joint ventures, and prestigious international and domestic alliances, the Company is facilitating the delivery of unparalleled products and services in two high growth areas: (1) the Internet and (2) e-mail and advanced messaging services. CATHAYONLINE INC. On Behalf of the Board of Directors 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 , Director More information can be obtained about CathayOnline by visiting http://www.cathayonline.com 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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