Urbanfind Inc. Announces That Subject to Formal Documentation and Shareholder Ratification, The Company has Agreed to Acquire G & C Beverage Group Inc.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 17, 2002 Effective 9:30 AM EDT EDT abbr. Eastern Daylight Time EDT Eastern Daylight Time EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York EDT September 17, 2002 - Urbanfind, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :UBFI) The board of directors today announced they have finalized an agreement to acquire, G & C Beverage Group, Inc.(http://www.gcbeveragegroup.com) a Canadian Company, involved in the liquor distribution (agency) business. G&C Beverage Group Inc. is an innovative leader in the brand management of spirits, beer and wines in the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. marketplace. The purchase of this Company immediately identifies Urbanfind as a trend leader, positioning G&C Beverage Group, Inc. 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>. the significant opportunities represented by the de-regulation of the growing alcoholic beverage marketplace. According to the BCLDB BCLDB British Columbia Liquor Distribution Branch (part of Canadian Ministry of Small Business, Tourism, and Culture) Annual report, "in fiscal year 2000/01, the British Columbia Liquor Distribution Branch's (LDB's) net income was over $637 million, an increase of $21 million from the previous fiscal year. Total beverage sales increased to almost $1.79 billion, up from $1.72 billion, last year. Refreshment beverage (cider/cooler) sales increased by 8.4 per cent, packaged beer by 3.8 per cent, spirits by 3.7 and wine by 2.6 per cent." This represents just one of the ten Canadian provincial markets that G&C Beverage Group, Inc is expanding into and now operates and manages a total of four regional offices, in British Columbia, Alberta, Ontario, and the Atlantic regions of Canada. The Board of Directors of Urbanfind looks forward to the ratification of this acquisition by our shareholders. "This acquisition is a key step in the creation of a new national network for the distribution of spirits, beer and wines for the North American marketplace." Quoted newly appointed board member Dhugald Pinchin. 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 provides a "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " for forward-looking statements. Some information included in this press release contains statements that are forward-looking. Such forward-looking and, accordingly, these results may differ materially from those expressed in any forward-looking statements made by or on behalf of the Company. For a description of additional risks and uncertainties, please refer to the Company's filings with the Securities and Exchange Commission. |
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