Commercial Consolidators To Acquire Max Systems Group, Acquisition Strengthens Business Technology Division in North America.Business Editors TORONTO--(BUSINESS WIRE)--Nov. 29, 2000 Commercial Consolidators Corp, (CDNX CDNX See Canadian Venture Exchange (CDNX). :CCZ CCZ Cyber Condition Zebra (Washington Naval Yard) CCZ Command and Control Zone CCZ Carlet-Charpin-Zinoviev (Equivalence Relation of Functions) )(FRANKFURT:CJ9) a leading assembler and distributor of communication delivery devices (specifically: televisions, computers, cell phones and the internet) to the Americas (North, South & Central), announced today that it has entered into a definitive agreement to acquire a 100% interest in Calgary-based MAX Systems Group Inc. ("MAX"), a large and profitable provider of notebook computers, computer components, and MIS solutions throughout Canada and the United States The United States and Canada share a unique legal relationship. U.S. law looks northward with a mixture of optimism and cooperation, viewing Canada as an integral part of U.S. economic and environmental policy. . Joe Franklin Joseph Fortgang (born March 9 1926, Bronx, New York) is an American radio and television personality who uses the stage name Joe Franklin. From New York City, Franklin hosted the first television talk show. , MAX's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , will join Commercial Consolidators Corp., providing the Company with additional senior executive management expertise. The MAX acquisition will give the Company access to MAX's large North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. customer base, which includes such dfecompanies as Fairmont Hotels & Resorts, Lucent Technologies, and MacDonald Dettwiler. In addition, MAX's strategic relationships with high-tech market leaders such as Cisco, Compaq, Hewlett Packard, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , and Microsoft are expected to enable CCZ to offer enhanced product and service offerings to its customers worldwide, particularly in the resale sector. The Company will also benefit from MAX's existing revenue base of $53 million. "MAX Systems Group's unique business strategy, diverse customer base, and strategic relationships with key industry players offer new opportunities for Commercial Consolidators," said CEO Guy Jarvis. "We are excited about this acquisition - we now have additional resources and channels to increase the sales base of our other subsidiaries in North America, and MAX can expand its markets by using our established distribution network in Latin America." Commercial Consolidators has agreed to acquire MAX for a Purchase Price equal to 2.5 times MAX's pre-tax profit for the 12 months ending July 31, 2001. The Purchase Price will be paid by way of common shares in the capital of CCZ at $4.25 per common share as to 85%, and cash as to 15%, subject to a minimum cash payment of $750,000. The Purchase Price is payable on or before October 31, 2001. The agreement to acquire MAX is subject to regulatory approval, and a finders fee will be payable in conjunction with closing of the transaction. About Commercial Consolidators Corp. Commercial Consolidators Corp. is a leading assembler and distributor of consumer electronics and business technologies. The company distributes well-known brands, such as Sanyo, Phillips and Samsung, as well as its own brand names, General Vision and LEC (1) (LAN Emulation Client) A software driver that provides LAN emulation (LANE) in an ATM network. It resides in an ATM end station or in a computer system that provides the LAN to ATM conversion, often known as a LAN access device. See LANE. to the Americas. Through recent partnerships and acquisitions, the Company has diversified operations to include high margin products such as management software applications and wireless telecommunications appliances. ON BEHALF OF THE BOARD OF DIRECTORS GUY JARVIS, CHIEF EXECUTIVE OFFICER The Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) Has Neither Approved Nor Disapproved The Information Contained Herein |
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