GTC Telecom Announces Departure of CFO in Conjunction with Pending Merger
Wednesday May 30, 4:00 pm ET
Hopes to Close Merger by the End of the 3rd Calendar Quarter 2007
COSTA MESA, Calif.--(BUSINESS WIRE)--GTC Telecom Corp. (OTCBB:GTCC - News) today announced that Jerry DeCiccio, the Company's Chief Financial Officer and member of its Board of Directors, has resigned from both positions with the Company to pursue other interests, effective immediately. The Company's Board of Directors has begun a search to find a successor to Mr. DeCiccio and hopes to have one in place on or before the closing of the expected merger with The Health Network.
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Eric A. Clemons, President of GTC Telecom, stated, "Jerry DeCiccio has worked hard to help with the positioning of the Company and the expected, pending merger. On behalf of the Board of Directors, I would like to thank him for his many years of work, and wish him the best in his future endeavors."
"We continue to mature our relationship with The Health Network and are moving closer to a vote by our shareholders. As this process continues, we will work closely with The Health Network to leverage our core competencies with their expanding growth and potential," Mr. Clemons concluded.
About GTC Telecom Corp.
Founded in 1997, GTC Telecom Corp. and its subsidiaries provide wireless, long-distance, international calling services throughout the United States, as well as Business Process Outsourcing services from its Perfexa business unit in India. For more information, visit www.gtctelecom.com, www.gtcwireless.com, www.perfexa.com.
About The Health Network, Inc.
Founded in 2000, The Health Network, Inc. and its subsidiaries market and distribute a proprietary line of natural health and nutritional products through a direct sales force of approximately 30,000 members in the United States, Canada and Australia. For more information, visit www.xoomaworldwide.com.
This release may contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. This release should be read in conjunction with the Company's annual report on Form 10-KSB and its quarterly and periodic reports on Form 10-QSB and 8-K. The Company's results may vary significantly from quarter to quarter and will depend, among other factors, on product launches and market acceptance, and distribution agreements. Except as expressly required by federal securities laws, the Company undertakes no obligation to update any of the forward-looking statements contained herein.
Contact:
GTC Telecom Corp.
Eric Clemons, 714-549-7700
ir@teamgtc.com
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Source: GTC Telecom Corp.
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