Coulee Ridge Announces Letter of Intent Signed for Major Transaction.CALGARY, ALBERTA--(BUSINESS WIRE)--Oct. 11, 1996-- Coulee cou·lee n. 1. Western U.S. A deep gulch or ravine with sloping sides, often dry in summer. 2. Louisiana & Southern Mississippi a. A streambed, often dry according to the season. b. Ridge (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). COU COU Calendar of Updates COU Council of Ontario Universities COU Change Of Use COU Curso de Orientación Universitaria COU Columbia, MO, USA - Columbia Regional (Airport Code) COU Cardiac Observation Unit COU Cable Orderwire Unit . ) Coulee Ridge Capital Corp. (the "Corporation") is pleased to announce that it has entered into a letter of intent for the acquisition by the Corporation of all of the issued and outstanding shares of Apollo Software Systems Inc.("Apollo") and a company to be formed in Canada ("Bingoworld"). In consideration for all the issued and outstanding shares of Apollo and Bingoworld, the Corporation will issue approximately 2,300,000 common shares at a price of $0.20 per share. The specific number of shares to be issued by the Corporation will be determined upon further review of the business of Apollo and Bingoworld and, if required, by reference to a formal valuation report. This is an arm's length transaction Arm's Length Transaction A transaction in which the buyers and sellers of a product act independently of each other and have no relationship to each other. Notes: Such a transaction is absent of any pressure sales tactics or relationships among the various parties. . Apollo is a British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography company which markets and manages proprietary computer software technologies (collectively referred to as "Zeus") targeted to the hospitality and food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. industries. Zeus is designed to manage inventory and cost control systems as well as ordering and purchasing inventory supplies. Apollo has over 300 existing clients. Bingoworld will be formed to manage an annual North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. trade show for the bingo and gaming industry in North America (the inaugural trade show was held in Florida in the spring of 1996) as well as to participate in the existing trade journal publication for the bingo and gaming industry. In conjunction with this transaction, it is intended that new management be appointed, including Mr. Detlef Heiss, of Vancouver, British Columbia, as 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. . Also in conjunction with this transaction, 1,600,000 common shares of the Corporation held by directors and officers will be sold to a company related to Apollo. In addition, the Corporation intends to complete a private placement of 2,320,000 common shares at a price of $0.20 per share. This private placement will be subscribed for, in part, by existing management of the Corporation as well the proposed management of the Corporation following completion of the Apollo and Bingoworld acquisitions. The Corporation is a Junior Capital Pool Corporation and the acquisition of Apollo is intended to constitute the Corporation's Major Transaction pursuant to Policy 4.11 of the Alberta Securities Commission and Circular No. 7 of The Alberta Stock Exchange. As such, the transaction is subject to the final approval of The Alberta Stock Exchange. -0- THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE CONTENTS OF THIS PRESS RELEASE. CONTACT: Coulee Ridge Capital Corp. Mr. Michael Rempel, 403/ 246-6359 |
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