Pacific Intermedia, Inc. Announces Signing of Definitive Agreement with Raptor Networks Technology, Inc.Business Editors/High-Tech Writers LAKEWOOD, Colo.--(BUSINESS WIRE)--Sept. 9, 2003 Pacific Intermedia Intermedia - A hypertext system developed by a research group at IRIS (Brown University). , Inc. ("PFII PFII Permanent Forum on Indigenous Issues "), a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. on the OTCBB OTCBB See OTC Bulletin Board (OTCBB). exchange (trading symbol Trading symbol See: Ticker symbol : PFII.OB), is pleased to announce that it has entered into a definitive agreement whereby PFII has agreed to acquire Raptor Networks Technology, Inc. ("Raptor") in a business combination. Raptor is a California corporation and was established to enable advanced data transport through true wire speed and real-time switching technology. The Company can be characterized as an early stage provider of switching technology which will enable the latest generation of high bandwidth network applications. With reduced costs, future application technologies will continue to expand network speed and bandwidth coupled with reduced cost. The board of directors of PFII has agreed to acquire Raptor in a share-for-share exchange. After completion of the merger, the combined companies will have approximately 20 million outstanding shares. The closing is subject to shareholder approval, mutual due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and the satisfaction of other customary conditions. PFII President Tina Bogani said: "We are excited about the opportunity presented by this acquisition and the potential it offers to our shareholders. We look forward to consummating this transaction and believe Lyle Pearson's entrepreneurial vision will lead PFII in a new and positive direction." Safe Harbor statement under the 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: The statements in this release relating to completion of the acquisition and the positive direction are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include, but are not limited to, contractual difficulties which may arise, the failure to obtain shareholder approval, the future market price of PFII common stock and Raptor's ability to obtain the necessary financing. |
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