E*twomedia Completes Acquisition of Exus Networks Isaac Sutton Appointed CEO & Chairman of the Board of Directors.Business Editors NEW YORK--(BUSINESS WIRE) Jan. 16, 2001-E*twomedia.com (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ETWM ETWM Escape to Witch Mountain (Disney movie) ) E*twomedia.com(ETWM) Announced today that it has completed its acquisition of EXUS EXUS Experimental Under-ice SONAR NETWORKS, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. ., a New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of corporation, for approximately 20 million shares of E*twomedia common stock. The stock holders of E*twomedia voted overwhelming in favor of the issuance of the shares in the merger. The transaction will be accounted for as a purchase. Effective immediately as part of the company restructuring, the company name has changed from E*twomedia.com to EXUS NETWORKS, INC, a Nevada corporation A Nevada Corporation is a corporation chartered under the laws of the U.S. state of Nevada. Nevada, like the state of Delaware (See Delaware corporation), is well known as a corporate haven. . Plans are under way to change the symbol from ETWM to EXUS. Mr. Daniel Jeffries has resigned as the company's acting Officer and Director. Mr. Isaac Sutton, formerly President of EXUS NETWORKS INC. has been appointed 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. and Chairman of the Board of Directors. Under his former duties as President of EXUS NETWORKS, Mr. Sutton helped create the international administrative and technical platforms that will enable the new EXUS NETWORKS INC. to successfully deliver quality IP and other communication services to the global marketplace. Mr. Sutton said he looks forward to serving on EXUS NETWORKS INC. Board of Directors. "This company has the potential to become a leader in the industry with its VoIP, satellite and data solutions. It will be a pleasure to work with and further build such a forward-looking technology company." ABOUT EXUS NETWORKS INC. Exus provides high quality, high performance, global data networking and Internet-related services. To accomplish these tasks, EXUS has created a global IP network that targets medium and large businesses, ISP's and ITSP's worldwide. An innovative IP solution for customers in remote regions utilized by EXUS is broadband and VoIP delivery by Satellite, removing borders as an obstacle to receiving quality service. Coupled with real-time online account management tools, EXUS is a clear choice for next generation communication services. EXUS services are extensive and include the following: - VoIP Carrier Services - Managed Data Networking - Global Broadband Internet Access Broadband Internet access, often shortened to just "broadband", is high speed Internet access—typically contrasted with dial-up access over modem. Dial-up modems are generally only capable of a maximum bitrate of 56 kbit/s (kilobits per second) and require the full use of a - Unified Communications - IP Centrex Services - Co-Location Services FORWARD-LOOKING STATEMENT 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. This press release contains forward-looking statements. Actual results nay differ materially from those projected in the forward-looking statements contained in this press release. Factors that could cause results to vary from expectations include: the operational challenges of developing, deploying and delivering EXUS' existing and future services; competition from new and existing competitors; potential difficulty in raising capital when needed; difficulties associated with international operations and expansion; and general economic conditions affecting our customers and the level of demand of our uncertainties described from time to time in EXUS' fillings with the SEC. EXUS assumes no obligation to update any forward-looking information contained in this press release. |
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