WHPR 13 for 1 SPLIT NEWS
Whispering Oaks International Inc. Announces Change in Control and Acquisition of Biotechnology Company and Gives Notice of a Forward Stock Split
MONTEVIDEO, Uruguay--(BUSINESS WIRE)--Feb. 22, 2001--Ignacio Martinelli announced today that he had purchased 1,892,308 shares of the common stock of Whispering Oaks International, Inc. (OTCBB:WHPR - news) from Kevin Halter, Chairman of the Board, President and Chief Executive Officer, and Pam Halter, a director.
The Halters retained 7,692 shares (before giving effect to a 13:1 stock split to be implemented on March 1, 2001).
In connection with the purchase and sale, the Halters elected Mr. Martinelli as the sole director of Whispering Oaks and then resigned as directors. Mr. Halter also resigned as an executive officer and Kevin B. Halter Jr. also resigned as a director and executive officer.
Mr. Martinelli, who is a citizen and resident of Uruguay, is an accountant who presently is involved in several business ventures. He was affiliated with Victor Paullier & Cia in 1998, Estudio Juridico Guyer & Regules from 1995 to 1998 and Price Waterhouse Uruguay from 1994 to 1995.
Mr. Martinelli also announced that Whispering Oaks has entered into an agreement to purchase all of the issued and outstanding shares of Lagostar Trading S.A., a Uruguayan corporation, from the four individual beneficial owners of the shares, for 150,000 shares of the Registrant's common stock (before giving effect to a 13:1 stock split to be implemented on or before March 1, 2001. Lagostar is in the business of biotechnology and holds specific intellectual technology and patents for cancer diagnostics and therapeutics.
Mr. Martinelli also gave notice that Whispering Oaks has declared a 13:1 stock split to be implemented on March 1, 2001, to shareholders of record on that date. Certificates evidencing the split shares -- 12 additional shares for each share held -- shall be delivered as soon as practicable to shareholders entitled to receive them. Shareholders will continue to hold the certificates evidencing the shares held prior to the split. Whispering Oaks' transfer agent is Securities Transfer Corporation, 2591 Dallas Parkway, Suite 102, Frisco, Texas 75034.
Forward-looking statements contained in this press release are made under the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties that could cause actual results of events to differ materially from those anticipated in such forward-looking statements.
Contact:
Whispering Oaks International, Inc., Frisco
Antonia Haughton, 604/207-9150
