Covista Communications, Inc. Announces Special Shareholders' Meeting.Business Editors LITTLE FALLS, N.J.--(BUSINESS WIRE)--Feb. 26, 2001 Covista Communications, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on symbol CVST CVST Chinese Visiting Scholars in Toronto (Canada) ) announced today that a special shareholders' meeting shareholders' meeting n. a meeting, usually annual, of all shareholders of a corporation (although in large corporations only a small percentage attend) to elect the Board of Directors and hear reports on the company's business situation. is to be held on March 29, 2001, for the purpose of authorizing an equity investment of $7,000,000 by Henry Luken, Chairman of the Board, A. John Leach, President and Chief Executive Officer and Kevin Alward, who will become Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of the Company when the previously announced Blink Data acquisition is completed. Under the terms of the proposed investment, approved by the Company's Board of Directors on February 1, 2001, the Company would issue and sell, subject to shareholder approval, Messrs Alward, Leach and Luken 3,500,000 shares of the Company's $0.05 par value Common Stock. Mr. Leach stated that the purpose of the investment was "to eliminate the Company's current working capital deficit and to fund expansion plans." Headquartered in Little Falls, New Jersey Little Falls is a Township in Passaic County, New Jersey, United States. As of the United States 2000 Census, the township population was 10,855. Little Falls was incorporated as a township by an Act of the New Jersey Legislature on April 2, 1868, from portions of , Covista Communications, Inc., is a leading regional facilities based provider of voice, data and Internet solutions to both the commercial and wholesale carrier markets. For further information about Covista, visit www.Covistacom.com. |
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