Concorde Strategies Group, Inc. Announces Completion of Acquisition of W3 Group, Inc.NEW YORK--(BUSINESS WIRE)--Sept. 30, 1999-- Concorde Strategies Group, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CSGG and OTCBB: CSGGP) announced today that the closing of the Agreement with W3 Group, Inc. has been completed, and is effective October 1, 1999. Accordingly, the corporation name has been changed to W3 Group, Inc., the 1 for 30 reverse split of the Common Stock is being effected as of the close of business today, and the Common Stock Purchase Warrants will be issued to holders of record of all classes of securities as of September 30, 1999. The Company's Common Stock will trade on the post-reverse split basis at the opening of business on Friday, October 1, 1999. The new OTCBB symbol for the Common Stock will be "WWWG" and the new symbol for the Series B Convertible Preferred Stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". will be "WWWGP". W3 Group, Inc. was formed to acquire and develop partnership companies with unusual growth potential that can utilize the Internet to expand their business and distribution channel. W3 intends to focus on existing companies that have proven markets, profitability, and management and provide strategic guidance and assistance with financing. Under its "eVentures" concept, W3 plans to foster synergistic synergistic /syn·er·gis·tic/ (sin?er-jis´tik) 1. acting together. 2. enhancing the effect of another force or agent. syn·er·gis·tic adj. 1. relationships among its partnership companies to achieve leadership positions within targeted market niches, concentrating primarily on six vertical markets: Education, Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , Telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. , Medical, Internet Technology and eBusiness. This press release 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. that involve a number of risks and uncertainties. The Agreement Plan of Share Exchange transaction is subject to the satisfaction of certain conditions, some of which are outside the Company's control. Accordingly, there can be no assurances that the transaction will be completed. Other factors could cause actual results to differ materially from those reflected in forward-looking statements made from time to time in news releases, reports, proxy statements Proxy Statement A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. , registration statements and other written communications, as well as oral statements made from time to time by representatives of the Company. |
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