Exus Acquires Ownership in New Maxplanet
Company Receives Additional Shares Upon Maxplanet-Wireless Ink Merger NEW YORK - PRNewswire-FirstCall - May 18
NEW YORK, May 18 /PRNewswire-FirstCall/ -- Exus Global, Inc. (BULLETIN BOARD: EXGO) and Maxplanet Corp. (MXNT) today announced that as part of the proposed merger between Maxplanet and Wireless Ink, Exus has received additional 12 million shares of Maxplanet, bringing total ownership position to 24 million shares.
AGI Partners, Ltd., a portfolio company of Exus Global, has been engaged to advise on the merger and to assist the new Maxplanet with sales and marketing projects worldwide. AGI's team of professionals has visited Wireless Ink and is currently continuing with the due diligence process.
Ike Sutton, CEO of Exus and Interim CEO of Maxplanet, commented, "I view this transaction as a classic example of a win-win deal and I am pleased with the progress of the merger thus far. Upon completion, we will not only have the opportunity to return value to shareholders of both Exus and Maxplanet, but we will provide Wireless Ink a unique platform where current management members will be relieved from financing and administrative tasks so that they can concentrate on exploring the tremendous opportunity in the wireless universe."
Wireless Ink CEO William Munch stated, "We are collaborating with the AGI team to finish up the legal and regulatory tasks. We look forward to the completion of the merger and to our next stage of growth through generating licensing and hosting revenues."
About Exus Global, Inc.
Exus Global is a publicly traded (BULLETIN BOARD: EXGO) Business Development Company (BDC) located in New York City. The company has initiated a strategy to create value for shareholders by investing in emerging companies that are positioned for strong industry growth or that have business models with strong cash flow potential. In additional to initial financing, Exus provides its portfolio companies with a variety of services including managerial and administrative assistance, back office support, pre-IPO and public listing planning, public relations and investor relations, marketing and feasibility studies and identification of strategic or financial partners, etc. For more information, visit www.exusglobal.com/.
About Maxplanet Corporation
Maxplanet has been an Internet portal and multimedia company since the late 1990s and currently owns domain names including www.maxplanet.com/, www.mxnt.com/ and www.mundomaximo.net/. The company was incorporated in 1982 in the State of Delaware and is currently listed on the Pink Sheets under ticker symbol MXNT. During the corporate restructuring in recent months, Maxplanet has been seeking strategic acquisition targets.
About Wireless Ink, LLC
Wireless Ink provides the most complete mobile website publishing platform available today. The company offers private-label mobile website authoring and hosting solutions for wireless carriers, telecommunication companies, ISPs, entertainment companies, brands, small businesses and individuals. The company currently hosts approximately 4,000 mobile web sites that generate over 8 million mobile screen views per month. More information is available at www.wirelessink.com/ and www.winksite.com/.
The preceding includes forward-looking statements which involve known and unknown risks and uncertainties which may cause the Company's actual results in future periods to differ materially from forecasted results. Forward-looking statements above are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including, without limitation, competition, intellectual property rights, litigation, needs of liquidity, and other risks detailed from time to time in the company's reports filed with the SEC.
