NEWS : 10/13/08
MonArc Corporation (MONA) Announces Planned Sale of Assets to (RMDM)
BEIJING, China, Oct 13, 2008 /PRNewswire-FirstCall via COMTEX/ -- monacorporation.com PINKSHEETS: MONA.PK is pleased to announce the company is currently in discussions to sell both of its operating divisions PP365.Com (China game developer) and its rights to Innotreck (A China based broadband provider) on a cash and stock basis to RMDM Entertainment Group Inc (RMDM) www.rmdmgroup.com
MONA management has also identified a new possible operating subsidiary in the exploration industry. The MONA management intend to release further info on the exploration deal including posting pictures of the infrastructure shortly.
As previously announced MONA intends to pay out the proceeds of this transaction to its shareholders in a form of a 1 time special dividend. This will be the 5th dividend in cash and stock MONA will have paid out by December 31, 2008
For corporate matters contact: corporate@monacorporation.com
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
CONTACT: For corporate matters contact: corporate@monacorporation.com
SOURCE MonArc Corporation (MONA)
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KEYWORD: Ontario
INDUSTRY KEYWORD: OTC
