- NEWS out today- spread is tight bids are building- GO MONA!!!
MonArc Corporation (MONA) Closes Deal to Vend Out Innotrek to (RMDM) RMDM Entertainment Group
Friday , October 17, 2008 08:19ET
BEIJING, China, Oct. 17 /PRNewswire-FirstCall/ - 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.
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CONTACT: corporate@monacorporation.com
SOURCE MonArc Corporation (MONA)