(OTC:CISI) CIS.com to Change Company Name
MIAMI--(BUSINESS WIRE)--July 27, 2001--CIS.com Inc. is pleased to announce that it has filed the necessary documents to change the company's name to "Resource America, Inc." and will file for a new trading symbol.
The name change reflects the Company's previously announced decision to exit the e-commerce business. Resource America's core business will be the acquisition, exploration and development of world-class mineral deposits.
Further News on Corporate Management Changes
As announced last week, the Board of Directors has appointed Allan Smith of Toronto, Ontario (Canada) as the Company's new President.
Smith has a strong record of building profitable companies and managing rapid growth. He currently serves as Vice President-Sales for a privately held Canadian company that provides wire & cable products and services to industrial (principally mining), OEM and residential markets. Over the past five years, Allan Smith has grown this $120 million business at a 22% rate. Smith holds a Bachelor of Commerce degree in Accounting & Marketing from McGill University.
CIS.com also wishes to report that effective July 17, 2001, Harold Stock tendered his resignation as President of the company. Additionally, CIS.com would like to remind investors that Daisy Campos resigned her position as Corporate Secretary and Director approximately a year ago, and that she no longer serves as an Officer or Director of the Company.
The company is in the process of forming a Technical Advisory Board of experienced and well-respected mining industry executives to advise the Company's Board of Directors. Further news will be released shortly.
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the proceeding discussion, the words "plan", "confident that", "believe", "expect", or "intend to" and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, the availability of components for, and delays in the start of production, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional financing and other risks described in the company's SEC reports and filings.
CONTACT: CIS.com Inc., Miami
Allan Smith, 305/438-0020
email: cisi_info@yahoo.com
CIS.COM INC - CISI
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:=) Gary Swancey
