City Network Technology, Inc. and Investment Agents Complete Share Exchange.Business Editors LAS VEGAS--(BUSINESS WIRE)--Dec. 13, 2002 Investment Agents, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:IVAG IVAG Intravaginal (obstetrics) ) and City Network Technology, Inc. jointly announced today that they have completed a Share Exchange Agreement whereby Investment Agents, Inc. has acquired all of the outstanding and issued shares of City Network Technology, Inc. City Network Technology, Inc., through its wholly-owned subsidiary based in Taipei, Taiwan, provides high speed Internet broadband equipment and wireless access products to customers worldwide in order to meet the business needs of the hospitality, residential property and telecommunication telecommunication Communication between parties at a distance from one another. Modern telecommunication systems—capable of transmitting telephone, fax, data, radio, or television signals—can transmit large volumes of information over long distances. marketplaces. Under the terms of Agreement, City Network shareholders exchanged all of their shares for 12,000,000 shares of Investment Agents, Inc. Further, as part of the Agreement, the members of board of directors for Investment Agents have resigned and have been replaced by designees of City Network. Investment Agents currently trades on the OTC BB under the symbol "IVAG," but in anticipation of a formal change of its corporate name to City Network, has commenced doing business under the City Network name. Andy Lai, the new chairman of City Network Inc. remarked, "We are excited about the consummation CONSUMMATION. The completion of a thing; as the consummation of marriage; (q.v.) the consummation of a contract, and the like. 2. A contract is said to be consummated, when everything to be done in relation to it, has been accomplished. of this share exchange agreement as it marks the beginning of a new era for the company. We are proud to be public in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and hope to create even greater shareholder value for both current and prospective investors." 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. Statement under 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: The statements contained in this news release include certain predictions and projections that may be considered 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. under the securities laws. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products and prices. With respect to Investment Agents, except for the historical information contained herein, the matters discussed in this news release are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, Investment Agents' extremely limited operating history, uncertainties related to the Company's access to additional capital, competition and dependence on key management. |
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