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:
www.brand8000.com
www.8000incgroup.com
www.8000inc.net
Or contact:
investors@8000inc.net
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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
Copyright . 31 PR Newswire