MIAMI--(BUSINESS WIRE)--Jan. 10, 2005--Viva International, Inc. (OTCBB:VIVI) announced today that it reached an agreement to sell its wholly owned subsidiary, Hardyston Distributors, Inc.
The agreement made as of December 31, 2004 including modifications through this morning will upon completion merge Vox Telecommunications, Inc. (VOX) into Hardyston. VOX will immediately commence appropriate filings and registrations to facilitate its plan to become a public company. The transaction provides for the assumption of up to $50,000 in liabilities by VOX and for 4 million shares in the newly formed company to be tendered to shareholders of Viva as of a record date to be announced by the Company's Board of Directors.
The agreement is subject to approval by the primary lending sources of Vox Telecommunications Inc.
Vox Telecommunication, Inc., a corporation organized in New York, is a developmental stage company that plans to operate an Internet based long distance telephony network using state-of-the-art Voice Over Internet (VOIP) protocol. Its long distance services intend to be marketed mainly by third parties to end users in the form of pre-paid phone cards or other media. Marketing efforts will also include direct personal computer (PC) access under long term marketing agreements.
Robert Scott, Viva's Chairman commented as follows, "Consistent with our prior announcements of the Company's plan to sell off some or all of its existing inactive, dormant or non-operating subsidiaries, we are pleased to announce our agreement governing the Hardyston subsidiary. We believe this transaction provides Viva some financial relief as well as provides the opportunity for our shareholders to receive, via a dividend from Viva, an ownership position in an additional public company."
