Snocone Systems Inc. Finalizes Merger with Who's Your Daddy, Inc.VANCOUVER, 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 -- Snocone Systems Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :SCSY SCSY Security Council Simulation At Yale ) ("Snocone" or the "Company") is pleased to announce that the Company has entered into a merger agreement with Who's Your Daddy, Inc. ("Who's Your Daddy" or "WYD a. 1. Wide. "). The business combination of the two companies was originally intended to be in the form of a Share Exchange Agreement, whereby the Company would acquire 100% of the shares of WYD. WYD requested a merger, for tax reasons, and both parties have completed an Agreement and Plan of Merger, effective the 1st day of April 2005, with the surviving entity being Snocone, a Nevada domiciled dom·i·cile n. 1. A residence; a home. 2. One's legal residence. v. dom·i·ciled, dom·i·cil·ing, dom·i·ciles v.tr. 1. public company, which will immediately undertake to change its name to Who's Your Daddy, as per the terms of the merger agreement. When the Company files its documents for a name change, it will be issued a new trading symbol Trading symbol See: Ticker symbol to better identify the company. As per the terms of the merger agreement, the Company expects to receive a first round of bridge financing Bridge Financing A method of financing, used by companies before their IPO, to obtain necessary cash for the maintenance of operations. Notes: These funds are usually supplied by the investment bank underwriting the new issue. in the amount of $500,000 within 30 days, against an expected initial funding commitment of $2,000,000. As the Company moves forward, a second round of financing, up to an additional $3,000,000, is expected to be made available as needed as needed prn. See prn order. for operations. As per the use of proceeds outlined in the financing agreement, WYD will market and produce new product lines which have been in development for the last several months. The product lines will enable the Company to quickly and efficiently mass market to the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. population while continuing to expand their sales and licensing operations oversees. Vivian Kane, Snocone's President, states: "We are delighted with the merger between Who's Your Daddy and Snocone, and believe this is the right choice for Snocone and our shareholders. We see the potential of generating increasing revenues through the licensing of the Who's Your Daddy name on products over the next 6 to 18 months. The Company currently has licenses and trademarks on as many as 300 new products. Snocone's management saw a great opportunity to acquire a licensing and branding operation that is at the right time to significantly increase revenue production immediately." Dan Fleyshman, the President of WYD, states: "We are excited by the prospect of becoming a public company, and of being able to trade on the financial markets. We promise our shareholders that we will work day and night to make our Company a success. With the expected financing, will be able to focus on making our vision a reality." Edon Moyal, the 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. of WYD, states: "We have been looking forward to this day for the past 3 years. We had a vision and today marks the successful completion of the first milestone on our journey. I predict that in short time we will have made our mark in this industry through our unique branding and merchandising." Who's Your Daddy designs and licenses a variety of products centered around our trademark protected brand, "Who's Your Daddy," which appeals to young men, women, and sports fans, who strive for "style with authority." Who's Your Daddy, the Company, holds multiple trademark rights to "Who's Your Daddy" in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada, Europe and is in the process of obtaining trademark rights in Australia and Japan. Who's Your Daddy products are currently available at several major retailers in the US, and Europe. The business strategy behind Who's Your Daddy focuses on maintaining the edge, energy and humor humor, according to ancient theory, any of four bodily fluids that determined man's health and temperament. Hippocrates postulated that an imbalance among the humors (blood, phlegm, black bile, and yellow bile) resulted in pain and disease, and that good health was behind the Who's Your Daddy brand while continuing to build brand awareness and recognition. The Who's Your Daddy brand is uniquely positioned in mass-market retail outlets, offering cutting edge designs with a high quality product at mass market prices. The Who's Your Daddy target market includes young adult males, sports fans and gift buyers for these groups. As part of the Who's Your Daddy strategy, Who's Your Daddy has developed products and events that appeal to these groups and continues to assess opportunities to expand their products and markets. While working on introducing a current product line into wider retail distribution, Who's Your Daddy, is expanding the current product line at existing retail locations to include women, junior and toddler lines. The Company believes that these products will not only generate revenues through licensing fees, but will also increase the intellectual value of the brand and diversify the Who's Your Daddy product line, which currently consists of over 300 products ranging from energy drinks to children's books. Who's Your Daddy has hired a licensing manager to seek new licensees domestically and internationally for all product divisions. This material includes 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. based on management's Current reasonable business expectations. In this document, the words "can," "anticipates," and similar expressions identify certain forward-looking statements. These statements are made in reliance on 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 , Section 27A of the Securities Act of 1933, as amended. There are numerous risks and uncertainties that could result in actual results differing materially from expected outcomes. The material should be read in conjunction with the Company's current annual and quarterly reports filed with the SEC, which contain discussions of currently known factors that could significantly impact the Company's future. Snocone Systems Inc. is featured at www.investorideas.com For full details, go to: http://www.investorideas.com/CO/SCOS/NewsReleases.asp |
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