AbsoluteSKY (fka ABSY)

[hapslap]

Remember this one from June, 2006. hmmm, if ABSY is worth more than $3.50 - why isn't management mortgaging their homes to get a bigger piece of the action. if it quacks like a duck....


MONTREAL, June 21, 2006 (PRIMEZONE) -- AbsoluteSKY, Inc. (ABSY) has disclosed that it has received an unsolicited offer from a European Fund to purchase its outstanding shares for $3.50 U.S. per share. The Offer is open for 60 days.

In order to complete the transaction, a minimum of 80% of AbsoluteSKY common shares must be tendered by business closing Monday, August 21, 2006. The Offer is subject to applicable regulatory approvals and due diligence on behalf of the Fund. AbsoluteSKY will call a special meeting of its Board of Directors to carefully consider and evaluate the Offer to the best interests of its shareholders, and will conduct consultations with its financial and legal advisors.

John Frabasile, President and CEO of AbsoluteSKY, commented, "This Offer comes a little early for us as we are only at the beginning of our growth phase which we firmly believe will increase our value substantially beyond the figures being offered."