8000inc (EIGH.pk) Announces Proposed Merger
Poster: SySAdmin
Posted on January 31, 2011 at 12:49:01 PM
8000inc (EIGH.pk) Announces Proposed Merger
MANASSASS, VA, Jan. 31 /PRNewswire-FirstCall/ - 8000inc, a Nevada Corporation currently
traded on the OTCMarkets Pink Sheets (EIGH.pk), today announced that
they have conditionally signed an agreement in connection with the
pending merger and acquisition of a currently trading, non-shell
Bulletin Board Company, current in its filings. The Board of 8000inc
has approved this merger under Nevada state law whereby there will be
no change to the rights, ownership or conditions for all shareholders
after the merger is completed.
Due to the current public shareholder concerns and speculation relating
to the common stock of 8000inc, the transaction and will remain under
the current signed Non-Disclosure Agreement ("NDA") until concluded.
The agreement has placed a 14 day time frame, commencing today, January
31, 2011 for completion as dictated by the NDA and agreed respective
due diligence over the period. The Company, because of the existing
inquiry, voluntarily informs the SEC of all its substantive corporate
actions.
The acquisition, if consummated as expected, is being structured as an
exempt share exchange transaction between the shareholders of the two
companies with 8000inc stock being exchanged for stock in the Bulletin
Board Company pursuant to an opinion of third party independent counsel
being provided accordingly. Due to the fact that 8000inc (EIGH.pk) is
non-DTC eligible, 8000inc shareholders will be asked to request
delivery of their shares in paper certificate form from their brokerage
accounts. All existing shareholders will then be asked to send their
certificates, and DTC delivery instructions for their brokerage
accounts, to the Company's Transfer Agent, Signature Stock Transfer
Inc. On receipt of the paper certificate, the Transfer Agent will
verify and confirm ownership, and 8000inc certificates will be
exchanged with shares in the new combined [or merged] Company via DTC.
No exchange of shares will be undertaken until the TA has received the
paper certificate and verified ownership by the shareholder. Detailed
instructions will be made available to all shareholders within 5 days
of the due diligence period outlined above.
For more information please visit:
http://www.brand8000.com
http://www.8000incgroup.com
http://www.8000inc.net
Or contact:
investors@8000inc.net
Also keep updated on 8000inc developments on Facebook or Twitter
This news release contains forward-looking statements that are subject
to certain risks and uncertainties that may cause actual results to
differ materially from those projected on the basis of such
forward-looking statements. The words "estimate," "project," "intends,"
"expects," "believes," and similar expressions are intended to identify
forward-looking statements. Such forward-looking statements are made
based on management's beliefs, as well as assumptions made by, and
information currently available to, management pursuant to the
"safe-harbour" provisions of the Private Securities Litigation Reform
Act of 1995. For a more complete description of these and other risk
factors that may affect the future performance of 8000inc see published
disclosure documents at OTCMarkets. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak only as
of the date made and the Company undertakes no obligation to disclose
any revision to these forward-looking statements to reflect events or
circumstances after the date made or to reflect the occurrence of
unanticipated events.
SOURCE 8000inc
8000inc
CONTACT: <p align="center"></p> <p align="center"><a href="http://www.8000inc.net">http://www.brand8000.com</a><br/> <a href="http://www.8000incgroup.com">http://www.8000incgroup.com</a><br/> <a href="http://www.skyvillasrealty.com">http://www.8000inc.net</a></p> <p align="center">Or contact:</p> <p align="center"><a href="mailto:investors@8000inc.net">investors@8000inc.net</a></p> <p align="center">Also keep updated on 8000 Inc developments on Facebook or Twitter</p>
MANASSASS, VA, Jan. 31 /PRNewswire-FirstCall/ - 8000inc, a Nevada Corporation currently
traded on the OTCMarkets Pink Sheets (EIGH.pk), today announced that
they have conditionally signed an agreement in connection with the
pending merger and acquisition of a currently trading, non-shell
Bulletin Board Company, current in its filings. The Board of 8000inc
has approved this merger under Nevada state law whereby there will be
no change to the rights, ownership or conditions for all shareholders
after the merger is completed.
Due to the current public shareholder concerns and speculation relating
to the common stock of 8000inc, the transaction and will remain under
the current signed Non-Disclosure Agreement ("NDA") until concluded.
The agreement has placed a 14 day time frame, commencing today, January
31, 2011 for completion as dictated by the NDA and agreed respective
due diligence over the period. The Company, because of the existing
inquiry, voluntarily informs the SEC of all its substantive corporate
actions.
The acquisition, if consummated as expected, is being structured as an
exempt share exchange transaction between the shareholders of the two
companies with 8000inc stock being exchanged for stock in the Bulletin
Board Company pursuant to an opinion of third party independent counsel
being provided accordingly. Due to the fact that 8000inc (EIGH.pk) is
non-DTC eligible, 8000inc shareholders will be asked to request
delivery of their shares in paper certificate form from their brokerage
accounts. All existing shareholders will then be asked to send their
certificates, and DTC delivery instructions for their brokerage
accounts, to the Company's Transfer Agent, Signature Stock Transfer
Inc. On receipt of the paper certificate, the Transfer Agent will
verify and confirm ownership, and 8000inc certificates will be
exchanged with shares in the new combined [or merged] Company via DTC.
No exchange of shares will be undertaken until the TA has received the
paper certificate and verified ownership by the shareholder. Detailed
instructions will be made available to all shareholders within 5 days
of the due diligence period outlined above.
For more information please visit:
http://www.brand8000.com
http://www.8000incgroup.com
http://www.8000inc.net
Or contact:
investors@8000inc.net
Also keep updated on 8000inc developments on Facebook or Twitter
This news release contains forward-looking statements that are subject
to certain risks and uncertainties that may cause actual results to
differ materially from those projected on the basis of such
forward-looking statements. The words "estimate," "project," "intends,"
"expects," "believes," and similar expressions are intended to identify
forward-looking statements. Such forward-looking statements are made
based on management's beliefs, as well as assumptions made by, and
information currently available to, management pursuant to the
"safe-harbour" provisions of the Private Securities Litigation Reform
Act of 1995. For a more complete description of these and other risk
factors that may affect the future performance of 8000inc see published
disclosure documents at OTCMarkets. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak only as
of the date made and the Company undertakes no obligation to disclose
any revision to these forward-looking statements to reflect events or
circumstances after the date made or to reflect the occurrence of
unanticipated events.
SOURCE 8000inc
8000inc
CONTACT: <p align="center"></p> <p align="center"><a href="http://www.8000inc.net">http://www.brand8000.com</a><br/> <a href="http://www.8000incgroup.com">http://www.8000incgroup.com</a><br/> <a href="http://www.skyvillasrealty.com">http://www.8000inc.net</a></p> <p align="center">Or contact:</p> <p align="center"><a href="mailto:investors@8000inc.net">investors@8000inc.net</a></p> <p align="center">Also keep updated on 8000 Inc developments on Facebook or Twitter</p>