Kayenta Kreations Inc. Announces Signing of Letter of Intent.SALT LAKE CITY -- Kayenta Kreations Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :KKRI) announced today that it has entered into a Letter of Intent to acquire all of the issued and outstanding common stock of GeoSpatial Geospatial is a term widely used to describe the combination of spatial software and analytical methods with terrestrial or geographic datasets. The term is often used in conjunction with geographic information systems and geomatics. Mapping Systems Inc., a privately held Delaware corporation A Delaware corporation is a corporation chartered in the U.S. state of Delaware. Delaware is well known as a corporate haven, and thus, over 50% of US publicly-traded corporations and 58% of the Fortune 500 companies are incorporated in the state. with its principal headquarters located in Pittsburgh ("Acquiree"). The proposed acquisition is subject to numerous conditions and will involve a change in stockholder control of the company, change of management, change of corporate name, change of corporate headquarters and other significant matters. The proposed acquisition is expected to involve a 2.8 to 1 forward stock split of the currently outstanding shares of common stock of Kayenta. Subject to the conditions precedent, including the requirement that Acquiree raise at least $2 million, the Acquisition is proposed to be completed in the next couple of months. Acquiree is in the process of acquiring an exclusive license from Reduct NV for the Reduct Underground Mapping Technology to include North and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. and Australia. Acquiree proposes to develop an infrastructure technology and service company using the Reduct license which relates to a unique and proprietary data collection system and software for the economical 3-D mapping of underground pipes and the integration of said data into existing geographic information system geographic information system (GIS) Computerized system that relates and displays data collected from a geographic entity in the form of a map. The ability of GIS to overlay existing data with new information and display it in colour on a computer screen is used primarily to platforms. This technology was developed in Belgium and has been utilized in many countries across Europe and in Japan to map underground pipes for various utilities and telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. . This release includes forward looking statements. Such statements involve risks and uncertainties which could cause actual results to differ materially from those set forth herein. |
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