Chattown.com Network Inc. Closes the Stock Purchase Agreement Acquiring a 100% Interest in Value Plus Marketing Inc.Business Editors SARASOTA, Fla.--(BUSINESS WIRE)--April 10, 2000 Chattown.com Network Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: CTWN), Monday announced that it has closed the stock purchase agreement with Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM). The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs Clay and Mark Schellenberger ("Sellers") for the purchase of a 100% interest in Value Plus Marketing Inc. ("Value") a private Internet company headquartered in Sarasota. Pursuant to the stock purchase agreement CTWN issued a total of 24 million (12 million to Clay and 12 million to Schellenberger) shares of its common stock in exchange for 100% of the total issued and outstanding shares of Value. The current controlling shareholder, A-Z Professional Consultants Inc. canceled a total of 200,000 shares in exchange for CTWN agreeing to effect no reverse splits for at least 24 months from the closing. CTWN acquired 100% of Value's outstanding common stock. At closing, Value owned several web sites including the following: Interactive Web sites Search Portal Interactive Dating Web site ChattownUSA.com HoundDog.com Loversonly.com Cyberlounge.com Partyhouse.com Chattersworld.com 1chatblvd.com Chitterchatter.com Chatsports.com Political Web site Chatpolitics.com The sites above currently offer free and fee based Internet chat rooms, on line shopping and other e-commerce services including free web based Coming from a Web server. See Web application. e-mail and free web hosting Making a Web site available on the Internet. Many ISPs host a few personal Web pages for an individual at no additional cost above the monthly service fee, but the address is subordinate to the ISP; for example, www.friendlyisp.com/pat_smith. . Clay and Schellenberger were appointed to the board of directors, and Richard Surber and Bonnie bon·ny also bon·nie adj. bon·ni·er, bon·ni·est Scots 1. Physically attractive or appealing; pretty. 2. Excellent. Tippetts resigned from their positions as officers and directors of CTWN. CTWN anticipates filing a Form 8K by April 25, 2000 disclosing the transaction. The required financials for the combined entities are expected to be completed by June 5, 2000. A number of statements contained in this press release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. which 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. 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 forward-looking statements involve a number of risks and uncertainties, including the timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. The actual results that Vaxcel may achieve may differ materially from any forward-looking statements due to such risks and uncertainties. Management strongly recommends that you read this press release in conjunction with Vaxcel's Sept. 30, 1999 Form 10Q, Dec. 31, 1999 Form 10K and other public disclosure documents which can be viewed at http://www.sec.gov. |
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