VHS Network Inc. Enters Agreement To Acquire TrueNET Enterprise Inc.Business Editors MISSISSAUGA, Ontario--(BUSINESS WIRE)--Nov. 8, 2001 Mr. Elwin Cathcart, Chairman and C.E.O. of VHS (Video Home System) A half-inch, analog videocassette recorder (VCR) format introduced by JVC in 1976 to compete with Sony's Betamax, introduced a year earlier. Network Inc. is pleased to announce that the Company has entered into an agreement to purchase TrueNet Enterprise Inc. The principles of the two companies signed a Letter of Intent" on October 22nd 2001 to allow VHSN VHSN Very-High-Speed Network to acquire TrueNET Enterprise Inc.(www.truenetenterprise.ca) a privately held business enterprise in the software development and Internet B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business sector. The agreement is subject to approval of the VHSN board of directors. The proposed acquisition will result in a significant improvement in our ability to exploit the opportunities that are presented to us day to day. As the transfer of knowledge and expertise from this acquisition mature, we will be able to take full advantage of our ability to property and a fully developed our suite of software and technology products for eBusiness and eCommerce. This acquisition will further results in improving our competitive position and help us achieve greater sales levels and reduced product In model theory, a branch of mathematical logic, the reduced product is a construction that generalizes both direct product and ultraproduct. development /deployment costs. In addition it will give us greater technology and management depth." said Elwin Cathcart, Chairman and C.E.O. of VHSN. VHSN and our China-eMall, (www.china-emall.com) web site is engaged in facilitating international trade in goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. produced in China for distribution to the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. (and Global) market. This acquisition will give us 'state-of-the-art' software with it's Progress(TM) based 4GL, Mission(R) Wholesale Distribution Software package and access to their wide customer base, which will represent a considerable improvement to our revenue growth. R20;The combined strengths of VHSN and TrueNET Enterprise Inc. enables VHSN to present all existing and new customers with an exceptional suite of products and services, from our international trade portal on the one end, to a wide array of Internet/Web B2B solutions on the other end." said Mr. Cathcart. This press release contains "forward-looking statements within the meaning of section 27Aof the Securities Act of 1933, and section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbour rules created by those sections,and the provisions contained in 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 and any amendments thereto. |
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