Central Network Communications Acquired by Viropro.Business Editors MONTREAL--(BUSINESS WIRE)--Dec. 18, 2003 Central Network Communications Inc. (CNCW: OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Other) announced today that it has reached an agreement for the sale of its operations to Viropro Inc. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : VPRO An x86 chip platform from Intel that supports hardware-based remote systems management. It comprises a Core 2 Duo CPU and a chipset that features Intel's Active Management Technology (AMT). ). These operations are currently held by CNC's 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. , CNC (Computerized Numerical Control) See numerical control. CNC - Collaborative Networked Communication Holdings Inc. Through this agreement, Viropro will deliver 20 Million common shares in exchange for the shares of CNC Holdings Inc. The acquisition is subject to completion of due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and the negotiation and execution of a long form purchase agreement. Closing will take place once registration and regulatory filing procedures have been completed. Proceeding with this acquisition follows an earlier restructuring announcement by Viropro wherein their Board of Directors stated their intention to seek revenue-producing acquisition candidates. Central Network Communications Inc. is a Montreal-based product and technology supplier in the growing field of Life Sciences. The Company today provides a powerful cost management and decision-support software tool (Pyramid) to the healthcare market and recently announced its intention to acquire CIHC CIHC Center for International Health and Cooperation BIODEV Inc., a firm specializing in building marketing and technology transfer partnerships in the human and animal biotechnology sector. We believe the potential for this business, starting with major agreements between partners in Canada, the US and Brazil, is enormous. Mr. Robert Egery, President and COO of CNC stated, "This transaction is an extremely important and positive step in setting a stable path to the future for CNC. It is expected to provide access to additional capital markets and should help to create liquidity for all our shareholders, who have continued to support the Company over the years." About Central Network Communications (CNC) Inc. Central Network Communications Inc. develops and markets proven, innovative management solutions for the Healthcare sector. Headquartered in Montreal, Central Network Communications is a public company listed on the OTC Other market under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors CNCW. For more information, visit www.cncinc.ca. CNC's Safe Harbour Statement Except for any historic information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, which are subject to section 27A of the Securities Act of 1933 and section 21E of the Exchange Act of 1934, and are subject to 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. created by these sections. Any statements that express or involve discussions with respect to predictions, beliefs, plans, projections, objectives, goals, assumptions of future events or performances are not statements of historical fact and may be "forward looking statements". Forward looking statements in this release may be identified through the use of such words as "expects", "anticipates", "estimates", "believes", or statements indicating certain actions "may", "could", or "might" occur. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements, which involve numerous risks and uncertainties, including the Company's ability to market its products and services in a competitive environment as well as other factors. |
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