Atlantis Technology Group (OTCBB: ATNOD) announced today the Company has agreed to purchase a 12.5% equity stake in the technology holding company Intervision Network, a Florida company.
The companies have executed a Letter of Intent and mutually entered a 45 day exclusive, 'no-shop' agreement & due diligence period. The Company will file an 8-K with the SEC upon the Definitive Agreement.
Pursuant to the Letter of Intent Atlantis will supply growth capital and restricted stock to Intervision in an undisclosed amount. Both parties will provide input as to ongoing operation of Intervision to better position the company to the investment community. The company's ownership will equal 12.5 % upon closing on the above-mentioned investment. Atlantis Technology Group and its principals shall assist Intervision in the preparation of and filing of the documentation for Intervision to begin the process of becoming a publicly traded company.
Monday, October 22, 2007
Atlantis Technology Group Executes Letter of Intent
Sender
Toygun Mavinil
Time:
11:26 PM
Category technology
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