Record Date For Spin Off of Wichita Development Corporation.Business Editors SALT LAKE CITY--(BUSINESS WIRE)--Dec. 19, 2000 Kelly's Coffee Group, 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. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : KLYS KLYS Konstnärliga och Litterära Yrkesutövares Samarbetsnämnd (Swedish Joint Committee for Artistic and Literary Professionals) ) Tuesday announced that it has set the record date for the distribution of 18,400,000 shares of Wichita Development Corp. (WDC WDC Washington DC, USA WDC Western Digital Corporation WDC World Data Center WDC Warwick District Council (UK) WDC World Diamond Council WDC Workforce Development Center WDC Wisconsin Democracy Campaign ) for Jan. 1, 2001. The 18,400,000 shares will be spun off on a pro-rata basis to the shareholders of Kelly's who hold shares on Jan. 1, 2001. The purpose of the spin off is to enhance shareholder value by further preparing Kelly's as an attractive merger or acquisition candidate. The company expects that physical delivery of the shares to be accomplished by the end of January 2001. The distribution will be subject to WDC's registration statement becoming effective. WDC is a real estate development company that is fully reporting under the Securities Exchange Act of 1934. WDC is currently not publicly traded. However, subsequent to the spin-off of WDC shares, WDC intends to apply for a listing on the Over-the-Counter Bulletin Board. A number of statements contained in this press release are forward-looking statements 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. . These forward-looking statements involve a number of risks and uncertainties, including the timely development, and market acceptance, of products and technologies, competitive market conditions, successful integration of acquisitions, and the ability to secure additional sources of financing. The actual results that Kelly's Coffee Group Inc. may achieve may differ materially from any forward-looking statements due to such risks and uncertainties. Management strongly recommends that you read this press release in conjunction with its most recent Form 10-QSB and Form 10-KSB, as well as its other public disclosure documents, which can be viewed at http://www.sec.gov. Kelly's Coffee Group Inc. 268 West 400 South, Suite 300 Salt Lake City, UT 84101 OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. Symbol KLYS |
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