Financial Access Solutions Technology Reports Unsolicited Purchase Offer for 100% of FLST Common Stock
MONTREAL -- (MARKET WIRE) -- 03/31/06 -- Financial Access Solutions Technology (OTC: FLST) today announced that Joseph Gammerieri, President of Puma Access Inc., from Florida, has forwarded an offer to purchase 100% of the common stock of FLST at a price of $0.10 per share for a total purchase offer of USD $9.1M in an all cash transaction.
This offer was unsolicited by FLST or any of its affiliates. FLST Officers have acknowledged the purchase offer formerly and will be seeking shareholder approval. The Officers of FLST and its board of directors recommend the acceptance of the purchase offer, which represents a significant premium to the current and recent trading levels.
About Financial Access Solutions Technology Inc.
Financial Access Solutions Technology Inc. (OTC: FLST), a technology provider, specializing in point-of-sale, cash and treasury, card products, and transactional software solutions for North American merchants. The company operates a wholly owned subsidiary named DM2 Technology, and markets the latest in point-of-sale (POS) terminals and software allowing merchants to efficiently process Debit and Credit card transactions. The company also markets prepaid debit and credit cards through its North American Merchant Client Network.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
Contact: Financial Access Solutions Technology Inc. Tony Papa President (514) 576-0088 http://www.dm2debit.com
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Well Weatherbill, no matter how much I despise you and wish death upon you for your MLXO disaster, I must agree this is a good pick. Guaranteed, unless the offer is rejected.
-------------------- Stick with Repo's plan in '07 - FRPT/DKAM!
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I did apologize on the MLXO thread .......I had no idea someone was gonna be dumping big.....how could anyone know that???
Yeah, there's only 2 possible things that could stop this. One, the offer gets removed? Two - the company rejects it.....
Reliable folks from another thread have called the company and the company made it sound like the vote was just a technicality and if you look at the chart, looks like most of the share holders are in below the 52 week high, so i don't see any rejection from share holders......
There is the risk of the offer being removed, but don't see why that would be the case if they made it unsolicited, then they must want the business......this will have a big buzz over the weekend......the company said there would be another PR monday.....that's the word from reliable sources from another thread, not my source from the MLXO thing though....that's someone entirley different. This is a good risk IMHO
-------------------- GSUS - Eternal 100 Bagger! HCPC - my favorite potential into December
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Exactly, that's probably what the PR would say and give further details to it being a done deal.... I have no problem with the vote....that's a no brainer......the only thing I have a problem with is if we are not being had here.........what if someone's pulling a scam on us.......that's the only thing I fear, but I'm willing to risk it to see becasue if it is a scam, I along with many others will be reporting this to the SEC and demand something be donw.....got my fingers crossed for monday
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Good question adlai. I am in for a little so i am not to worried. I dont think its a scam though. Maybe the guy has backing and wants to take his little corporation to the next level. Monday should tell the tale and we can make a better informed decision as to buy more or sell what we have. Have a great weekend. TMAN...
-------------------- In the end, trust only yourself when trading stocks.
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I called the company this mornign and a guy there said they are having a share holder meeting to decide and he said a PR will be out either later today or tomorrow, so we will hear soon.....this is a good gamble, but you all know this is a gamble, right???? But it looks to be a good gamble considering last PR said board of directors encouraged the buy out, so we'll just have to wait n see.
-------------------- GSUS - Eternal 100 Bagger! HCPC - my favorite potential into December
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MONTREAL -- (MARKET WIRE) -- 05/11/06 -- Financial Access Solutions Technology (OTC: FLST) announced today that it has hired Lightsmedia as its investor relations firm.
According to the company, the recent announcement of the letter of intent to acquire ABV Gold Inc. has generated a tremendous interest from investors and the flood of calls and emails has made it necessary to hire an investor relations firm.
The companies expect to enter into a share exchange agreement by or before May 18, 2006.
About ABV Gold
ABV Gold was founded as an exploration company to locate, explore and mine world-class volcanogenic metallic deposits. ABV Gold's approach is different, while most exploration companies work around already made discoveries, we believe that important discoveries will be found in different areas, not necessarily those near or adjacent of those that have already been found.
As a good example to our approach, we have to remember the very valuable discoveries that were made in Quebec and Ontario, namely Hemlo, Selbaie and Louvem. In different fields, during the 90s, the discoveries of Diamet diamond deposits in the Northwest Territories and the Voisey's Bay nickel deposit were major contribution to the mining industry. Those discoveries were unique in that they were found in new areas.
Our exploration program is based of the application of several techniques in an interactive process to gain a better the knowledge of the geological environment. ABV Gold has developed a model that traces precisely favorable mining environments, similar to those already found and known.
ABV Gold currently owns several exploration territories that will be explored. The company is also continuously applying its techniques to identify and acquire new territories.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
Contact: Lightsmedia Homer Pateridis (450) 458-8037
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