Concept Industries Inc. Announces China Paging Joint Venture Provides E-mail To Subscribers And Private Placement Completed.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 8, 2000 Concept Ind.(CDNX CDNX See Canadian Venture Exchange (CDNX). :CEU CEU Continuing Education Unit CEU Central European University CEU College of Eastern Utah (Price, UT) CEU Centro Escolar University (Manila, Philippines) CEU Centro Escolar University ) Concept Industries Inc. (the &uot;Company&uot;) is pleased to announce the completion of the private placement of 6,000,000 Special Warrants for gross proceeds of $900,000. As previously announced on October 26, 1999, each Special Warrant is exchangeable into one common share in the capital of the Company and one common share purchase warrant exercisable for two years. The share purchase warrants will expire on October 26, 2001. A significant portion of the private placement proceeds is to be transferred as capital contributions to the Company's paging joint venture (&uot;Contour&uot;) in Shandong Province in the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China. Contour is currently operating paging systems in 13 cities in Shandong Province and is the second largest paging network in that province with 330,000 subscribers. The financial operating results for the current fiscal year ended December 31, 1999 will be available by the end of this month. The funds will be used to expand the existing paging operations to additional cities and to finance the launch of a new paging technology to provide e-mail access and information retrieval information retrieval Recovery of information, especially in a database stored in a computer. Two main approaches are matching words in the query against the database index (keyword searching) and traversing the database using hypertext or hypermedia links. for the current pager subscribers. Eight cities have been selected to offer the new e-mail services using the latest Chinese character pager with high capacity memory and extra large display area. Management is leaving this afternoon to attend the ISPCON ISPCON Internet Service Provider Convention (The Golden Group, Inc.) Canada 2000, a major ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. show in Toronto, Ontario. The Company will meet with major hardware suppliers to evaluate their equipment specifications for the Company's proposed Internet Data Center project in China. CONCEPT INDUSTRIES INC. &uot;William Jung&uot;, President This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1993 and Section 21E of the Securities Exchange Act of 1934, and is subject 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 these sections. Actual results may differ materially from the expectations and estimates of the Company. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion