Chill Enters Into Purchase Agreement.CARSON CITY Carson City, city (1990 pop. 40,443), state capital, W Nev., in the Eagle valley; inc. 1875. The city is a trade center for a mining and agricultural area. State government is the major employer, and tourism is economically important. , Nev.--(BUSINESS WIRE)--Sept. 20, 1999-- The board of directors of Chill Tech Industries Inc. (symbol: CHILE) are pleased to announce that the company has signed a letter of intent with AcroMall.Com Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the Commerce Corp. an Internet e-commerce solution provider. AcroMall.Com is a developer of customized interactive Webstore sites for both entry level and established Internet merchants. By offering multilevel mul·ti·lev·el adj. Having several levels: a multilevel parking garage. Adj. 1. multilevel - of a building having more than one level e-commerce solutions, AcroMall.Com looks to develop seamless virtual e-commerce communities, which brings the interaction between merchants and consumers to a higher and more personal level. Under the letter of intent, Chill Tech shall commit to purchase 40 percent of AcroMall.Com's outstanding shares for $4 million. Said funds shall be used by ArcoMall.Com for realizing its objectives regarding the building of a secure infrastructure of sales, marketing, technical support and continued product research and development. "We are extremely excited about this acquisition," stated Dr. Ian Woods Ian Woods is a Canadian publisher and political activist. He has run unsuccessfully for the Canadian House of Commons for the Canadian Action Party in the 1997, 2000 and 2004 federal elections in the Barrie, Ontario area where he lives. , president of Chill Tech, "as it is the perfect example of the type of business which shall be shaping the future of Internet Commerce. This is a young and dynamic company which we are pleased to be associated with." Management of Chill Tech is encouraged by this latest announcement, as it is the starting point Noun 1. starting point - earliest limiting point terminus a quo commencement, get-go, offset, outset, showtime, starting time, beginning, start, kickoff, first - the time at which something is supposed to begin; "they got an early start"; "she knew from the for the company's objectives of building a strategic portfolio of Internet and e-commerce companies. For further information about Chill Tech Industries Inc., and new developments in the company, please visit our web site at www.chilltech.com and www.acromall.com. The above statements regarding the business of Chill Tech Industries Inc. are not purely historical rather 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. within the meaning 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, including Chill Tech Industries Inc. beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" and are based on information available to Chill Tech Industries Inc. as of such date. It is important to note that actual outcome and actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative and marketplace changes. |
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