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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Contec Innovations (Tier2) | TSXV:BUZ | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.24 | 0.18 | 0.30 | 0 | 01:00:00 |
Contec Innovations Inc. (the "Company") (TSX VENTURE:BUZ), a mobile content service provider, today announced that, due to the difficult equity financing markets, it will not proceed to complete the second tranche of the non-brokered private placement, announced November 21, 2008. Instead, the Company will proceed to seek merger possibilities with synergistic businesses that will allow the Company to maximize the value of its technology and business opportunities in the current financial and business environment. In addition, the Company announces that Perry Quan, Roland Schmidt, Laurie Wallace and William Walls have tendered their resignations from the Board of Directors. Mr. Don Lay and Mr. Ma Yu remain as Directors. Mr. Roland Schmidt has also tendered his resignation as Chief Technology Officer and Vice President, Research and Development. The Company would like to thank Messers Quan, Schmidt, Wallace and Walls for their past service to the Company and its shareholders. Senior Management is working with the Contec technology and business development teams to identify appropriate merger candidates that will allow the company to maximize the value of its technology and business opportunities. All reasonable alternatives will be explored and management will make its recommendation to shareholders as quickly as possible. ON BEHALF OF THE BOARD OF DIRECTORS OF CONTEC INNOVATIONS Don Lay, CEO About Contec Innovations Contec Innovations Inc. (TSX VENTURE:BUZ) operates the BUZmob(TM) mobile publishing service. BUZmob(TM) delivers digital content to mobile users on any device, on any network, anywhere in the world. BUZmob(TM) is powered by Contec's Hornet(TM), a mobile data infrastructure solution that accelerates the creation and rollout of mobile data services. Headquartered in Vancouver, Canada, Contec has a sales and support office in Beijing, China. For more information: www.contec.ca or www.buzmob.com. The statement made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations. Hornet(TM) is a trademark of Contec Innovations Inc.
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