News for 'CYBT' - (Candao Enterprises and Cybertel Capital Agree on Terms of Acquisition JOINT PRESS RELEASE)
VANCOUVER, BC, and SAN DIEGO, CA,, Apr 15, 2005 (CNW Telbec via COMTEX) -- Candao Enterprises (CDA.H:TSX) and Cybertel Capital (CYBT:BB) reported today that both parties have agreed in principal to the terms and conditions regarding the acquisition of all the Series B voting preferred shares of Cybertel Capital and a significant percentage of all its outstanding common stock. Under the terms of this Agreement, the Company would also acquire all the assets of Cybertel Capital's subsidiaries. The Company would commence management of operations of the active businesses as soon as the transaction is completed. Both companies will seek further legal and regulatory advice which shall result in a final letter of intent, subject to regulatory approval, and completion of satisfactory due diligence, within 30 days of this announcement. The NEX and TSX-Venture need to approve the final transaction and the change in Candao's status to an active business.
Investors are cautioned that, except as disclosed in the Management Information Circular to be prepared in connection with a potential transaction, any information released or received with respect to the ongoing discussion may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered to be highly speculative.
The TSX Venture Exchange and the NEX have, in no way, reviewed or considered the merits of any proposed plans and have neither approved nor disapproved the contents of this press release.
About Cybertel Capital
Cybertel Capital is a holding company that acquires interests in privately held companies. Cybertel Capital also acts as an incubator for profitable companies that would like to go public in the near future. Cybertel Capital provides services to these companies and investments into their infrastructure that enables them to become publicly traded entities through dividend distribution to the shareholders of Cybertel Capital.
About Candao
Candao Enterprise Inc. is a publicly traded Canadian Company with rights to patented technologies which apply to converting organic waste into biosynthetic gas. Candao has alliances with oil and gas companies in the USA and recently announced a framework of guidelines for new direction that it believes should substantially advance the Company's goal of becoming a significant hub for the development and production of diversified energy sources.
Posted by makone on :
HI
i just get in : highly volatile . it could runs to the moon , or stay at this level.
i do not have any idae about it , but i like the news .