Global Explorations Inc. Issues Announcement.VANCOUVER, BC--(BUSINESS WIRE)--Nov. 23, 1999-- GLOBAL EXPLORATIONS INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. :GXXP) (the "Company") is pleased to confirm that the Tender Offer process, initiated by the Company (earlier named Trincomali, Ltd.), has now been completed. Accordingly, Regulation S shares have been issued to shareholders of Global Explorations Corporation ("GXC (Global Exchange Carrier, Inc., Abingdon, VA) An early provider of IP voice services via the Internet, intranets and private WANs that sold its customer base in the late 1990s. GXC provided Internet gateways for long distance telephony services at lower prices than the traditional long "). Consequent to the fact that over 90 % of shares of GXC were tendered, a "mandatory conversion" letter is now being circulated to those shareholders of GXC who did not tender their stock via the Tender Offer. The Company is currently in the process of completing a Regulation S private placement, announced earlier, which has been approved by its shareholders. At the same time, the Company will proceed to formalize and expand the various business opportunities outlined in earlier communications. CORPORATE UPDATE: 1. The single most positive factor in recent weeks has been the progress made towards a lasting peace in Sierra Leone Sierra Leone (sēĕr`ə lēō`nē, lēōn`; sēr`ə lēōn), officially Republic of Sierra Leone, republic (2005 est. pop. 6,018,000), 27,699 sq mi (71,740 sq km), W Africa. . More specifically, the rebel RUF Noun 1. RUF - a terrorist group formed in the 1980s in Sierra Leone; seeks to overthrow the government and gain control of the diamond producing regions; responsible for attacks on civilians and children, widespread torture and murder and using children to commit forces have now registered as a political party (Revolutionary United Front Party) and the 6,000-strong United Nations peacekeeping force peacekeeping force n → fuerza de pacificación peacekeeping force n → forces fpl qui assurent le maintien de la paix -- composed mainly of Indian and Kenyan soldiers -- is due to arrive in Sierra Leone in the very near future. Since democratic elections are now envisaged as the final stage of the peace process, the Company expects that it will be in a favourable position Noun 1. favourable position - the quality of being at a competitive advantage favorable position, superiority advantage, vantage - the quality of having a superior or more favorable position; "the experience gave him the advantage over me" to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. its earlier efforts in that country, most notably business opportunities in the trading of rough diamonds and other strategic commodities. 2. Similar developments towards stability in the Democratic Republic of Congo and the Republic of Angola are anticipated in forthcoming months. 3. The Company has immediate plans to activate its role in the presentation of innovative financial products -- like forward currency exchange contracts and asset-based swaps -- originating in the emerging markets. For example, the Company is preparing to close a series of forward currency transactions on behalf of Western corporations active (in trading and in mining) in certain countries in Africa. Also, the Company plans to acquire, through share-for-property swaps, interests in credible mining concessions in Western Africa. 4. In order to obtain a comprehensive insight into the Company's activities, this press release must be read in conjunction with (a) press releases issued earlier by the Company or by GXC and (b) the recent Takeover Bid Noun 1. takeover bid - an offer to buy shares in order to take over the company two-tier bid - a takeover bid where the acquirer offers to pay more for the shares needed to gain control than for the remaining shares circular issued by the Company. 5. The Company's plans towards upgrading its status to a "reporting company" under US legislation are proceeding and more details will be made public in due course. The Company, pursuant to filing a Takeover Bid circular in 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 , qualifies as a reporting company under the British Columbia Securities Act; shareholders should note that the Company and related insiders are now subject to reporting provisions as outlined in that Act. CORPORATE DIRECTION AND ASSOCIATED RISKS: The Company continues to pursue the vision announced earlier this year via numerous press releases issued by GXC. Primarily, the vision is rooted in the belief that an understanding of the risks associated with conducting business in the developing markets bring unique rewards; it is the view of the Company's Directors that, in certain select circumstances, such risks are not only quantifiable but also manageable. The opportunities present themselves either through above average returns from short term trading situations or through a substantial undervaluation un·der·val·ue tr.v. un·der·val·ued, un·der·val·u·ing, un·der·val·ues 1. To assign too low a value to; underestimate. 2. To have too little regard or esteem for. of proven mining and other assets other assets Assets of relatively small value. For financial reporting purposes, firms frequently combine small assets into a single category rather than listing each item separately. in chosen countries in Africa, Eastern Europe and Asia. However, investors are alerted to the fact that risks in developing markets do not contain the risk offset mechanisms usually available in established, mainstream economies. Any investment in the Company's shares, in that context, can be deemed speculative in nature. Whereas the expertise and contacts at the Company's disposal may well provide for a continuous stream of opportunities, profits (and losses) arising from such opportunities will not, and cannot, follow patterns commonly accepted in developed markets. Furthermore, a multitude of political factors will continue to play a significant role in the Company's near term and medium term success. CAUTIONARY STATEMENT: This news release may include "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act as amended, and/ or the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. All Statements, other than statements of historical fact included in this release, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements that involve various risks and uncertainties. All forward-looking statements in the release are expressly qualified by this notice. |
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