CityXpress Issues Second Tranche of Shares for 10digit Communications Acquisition.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 12, 2003 CityXpress Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CYXP), the leading supplier of revenue-generating event auctions and online special sections for the newspaper industry, today announced that it has issued 211,858 shares of its common stock in the second and final tranche Tranche One of several related securities offered at the same time. Tranches from the same offering usually have different risk, reward, and/or maturity characteristics. tranche A class of bonds. of shares to be issued as part of the purchase price for the online auction business and related assets of 10digit A single character in a numbering system. In decimal, digits are 0 through 9. In binary, digits are 0 and 1. digit - An employee of Digital Equipment Corporation. See also VAX, VMS, PDP-10, TOPS-10, DEChead, double DECkers, field circus. Communications. The number of shares issued was calculated based on one and one-half times the revenue received or receivable from customers of 10digit Communications existing on the date of the purchase for the period from July 01, 2002, through December 31, 2002. The acquisition now complete, the aggregate amount of shares issued under the acquisition agreement is 1,216,135. Shares of the Company's common stock are valued at $0.25 per share for the purpose of the transaction. Now scheduled to host more than 30 newspaper auctions in the first six months of 2003, CityXpress provides a growing number of newspaper affiliates in the U.S. and Canada with innovative products that generate incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. sources of advertising revenue. Xpress Auctions, the most comprehensive product available for newspapers, provides the complete workflow The automatic routing of documents to the users responsible for working on them. Workflow is concerned with providing the information required to support each step of the business cycle. environment to manage and conduct newspaper auctions. Xpress Special Sections delivers a powerful package of fresh editorial content and contextually-related advertising and promotional products, providing targeted promotional opportunities for local advertisers wishing to reach a valuable niche audience. ABOUT CITYXPRESS CityXpress develops integrated online and promotional solutions that provide media companies with opportunities to generate new sources of incremental revenues from their Internet sites. CityXpress has offices in Vancouver and Winnipeg, Canada and Seattle, Washington  This page is protected from moves until disputes have been resolved on the .The reason for its protection is listed on the protection policy page. . CityXpress shares trade on the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTCBB under symbol CYXP. More information on CityXpress is available at the company's corporate website at www.CityXpress.com. This press release and/or communication contains 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. regarding the Company's business strategy and future plans of operations. Forward-looking statements involve known and unknown risks and uncertainties. These and other important factors, including those mentioned in various press releases and/or communications of the Company, may cause actual results and performance to differ materially from the future results expressed in or implied by such forward-looking statements. The forward-looking statements contained in this press release and/or communication speak only 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 the Company disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in the Company's expectations or future events. |
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