Article for Geotele Com Inc (OTHER OTC:GTLE) 3:15 PM
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Geotele.com to Spin Off Internet Properties
TUESDAY, OCTOBER 03, 2000 3:15 PM
- BusinessWire
Geotele.com to Spin Off Internet Properties
10/3/2000 3:15:00 PM
NEW YORK, Oct 3, 2000 (BUSINESS WIRE) -- Geotele.com, Inc. (GEOL) announced today that it will spin off its Internet properties into a newly formed corporation named e-biz venture corp.
Geotele.com shareholders of record as of November 6, 2000 will receive one share of e-biz venture corp. for every share of geotele.com owned.
"Our Internet assets are not being utilized since our only emphasis is the deployment of our Voip network," said Cohen, CEO of Geotele.com. The company believes that this spin off will allow e-biz venture to exploit new opportunities, seek its own capital and position itself for mergers or acquisitions.
Geotele.com Internet properties to be spun off into e-biz venture consist of (a) the Bizcube portal (
www.bizcube.com), (b) Geotele.net (
www.geotele.net), (c) its on line employment website (currently accessible only through the Bizcube portal) and (d) its on line business opportunity website (also, currently accessible through the Bizcube portal).
Except for the historical information contained herein, all of the above mentioned contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933, as amended. Such forward looking statements, including but not limited to, legislation that may affect industry regulation.
CONTACT: Geotele.com, New York
Guy Cohen, CEO, 212/213-4410
URL:
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