PR Release
MonArc Corporation (MONA) Closes Deal to Vend Out Innotrek to (RMDM) RMDM Entertainment Group
Last update: 8:19 a.m. EDT Oct. 17, 2008
BEIJING, China, Oct 17, 2008 /PRNewswire-FirstCall via COMTEX/ -- www.monacorporation.com (Pink Sheets: MONA - News) MonArc Corporation is pleased to announce that it has the sale of its Innotrek subsidiary to RMD Entertainment (RMDM:PK). The deal, valued at $1 million US will be paid for in RMDM stock, based on a projected RMDM share price of $0.001 per share. In keeping with the Company's policy of distributing proceeds of its divestitures to MonArc shareholders, the Company will be announcing details of an anticipated stock dividend within the next 2 weeks. Additionally, MonArc corporate advisors are currently in China, and will be meeting with PP365.com management to finalize the sale of PP365.com which is also being acquired by the same buyer RMDM Entertainment Group.
In other Company news, MonArc will be announcing details of the date of record, ex-date and payment dates for the multiple dividends previously announced within the next 10 to 15 business days. The Company must first provide 10 days notice to regulators of these details before they can be officially announced.
Get the Facts Right. The issuer works hard to continue to keep our shareholders informed, and news is updated frequently via Press Releases, Pink Sheet www.pinksheets.com filings, and updates to our websites. Other websites not sponsored, or recognized by the Company may provide misleading or disinformation to investors in order to manipulate trading patterns for a given stock. Always look for original content from trusted sources, rather than relying on 'excerpts' or discussion boards that may not give you the whole story. The Securities and Exchange Commission requires financial institutions or brokerage firms to provide their clients with documentation, describing the risks of investing in penny stocks.
Safe Harbour 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: corporate@monacorporation.com
SOURCE MonArc Corporation (MONA)
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