Corporate Reorganization Announced by CXN Media Corporation.Business Editors MONTREAL--(BUSINESS WIRE)--Sept. 9, 2002 CXN CXN Checkerboard Nightmare (web comic) Media Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CXIN) management announced today that in order to harmonize and better control its content, it is transferring its Editorial operations, currently carried out in Beijing, to its Montreal Head Office. Management is currently negotiating a cost-sharing arrangement with its joint venture partner CEINet, under which CEINet will continue to provide the exclusive content but all final editing activities now be performed in Montreal. In view of this re-organization, the company has reassigned Mr. Raymond Boisvert to a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of CXN Media Corporation named CXN Ventures. Mr. Raymond Boisvert has resigned as President, Secretary and Director of CXN media Corporation to concentrate on his new task at hand. Mr. Boisvert has made this decision to enable the 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. Mr. Jean-Francois Amyot, to better focus the company's efforts on its mission of becoming one of Asia's leading Media Companies. Mr. Amyot takes over as President and CEO of CXN Media. Mr. Boisvert will be responsible in developing CXN Ventures into a leading business consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a offering corporations and entrepreneurs in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Europe the ability to engage in business ventures in the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China. CXN Media is also actively pursuing its acquisition of Smart Investor magazine and other related companies. The deadline for the formal purchase agreement is scheduled for this September 2002 and final closing pending formal due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. . CXN MEDIA CORPORATION is a "Click and Pulp" Media Company in Asia with interests in both print and electronic media. Through its exclusive agreement with the CEInet, CXN provides financial, economic and business information on the People's Republic of China. CXN's correspondents source, produce and publish the most reliable information available with the highest accuracy, integrity and speed. CXN also provides business-consulting services to companies seeking to do business in China through its wholly owned division CXN Ventures. To find out more about China Xin Network Media Corporation (OTCBB: CXIN), visit our website at www.cxnonline.com. The statements contained in this release which are not historical facts contain forward-looking information with respect to plans, projections or future performance of the company; the occurrence of which involves certain risks and uncertainties that could cause the company's actual results to differ materially from expected results. Such risks include the timing of implementation and the scope and success of the program described herein. |
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