XO Corporation Renamed Calimont Corp.; Company Announces Reverse Split.NEW YORK--(BUSINESS WIRE)--Nov. 7, 1997--XO Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on BB:XOPF) today announced that it has amended its Articles of Incorporation The document that must be filed with an appropriate government agency, commonly the office of the Secretary of State, if the owners of a business want it to be given legal recognition as a corporation. to include a change of name to Calimont Corp. Shares of the company's stock will be traded under the symbol CLMP CLMP Council of Literary Magazines and Presses CLMP Clamp CLMP Civil Liberties Monitoring Project CLMP Connectionless-Mode Network Protocol CLMP Common Link Message Processor CLMP Carpenters Labor Management Program . Concurrently, the company reported a one for ten (1-10) stock split of its issued and outstanding common stock. Gregory B. Kaminep, president and 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. commented, "We believe the actions we have taken will assist in repositioning the company and increasing shareholder value. Calimont is entering the high technology arena with unmatched wireless and internet technology and strong strategic alliances that will enable us to effectively compete in this arena." Calimont Corp. is a high technology/telecommunications company dedicated to the wireless telecommunications market. The company presently is targeting the utilities industry with its technology. -0- Statements contained in this press release, which are not historical facts, are forward-looking statements, as that is defined in the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Act of 1995. Such forward-looking statements are subject to a number of risks and uncertainties, including competitive and technological developments, as well as availablity of human and financial resources, which could cause actual results to differ materially from those expressed in any forward-looking statements made on or behalf of Calimont. CONTACT: Investor Contact: DeMonte Associates, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Cynthia DeMonte, 212/473-3700 |
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