Simex Technologies, Inc. Announces Signing of Letter of Intent with College Tonight, Inc.
August 14 2007 - 11:46AM
PR Newswire (US)
ATLANTA, Aug. 14 /PRNewswire-FirstCall/ -- Simex Technologies, Inc.
(OTC:SMXT) announced today that it entered into a Letter of Intent
on August 13, 2007 to acquire College Tonight, Inc., a privately
held corporation with its principal headquarters located in Valley
Village, California, in a reverse merger. The proposed merger is
subject to numerous conditions precedent, and will involve a change
in stockholder control of SMXT, change of management, change of
corporate name, change of corporate headquarters and other
significant matters. The proposed merger is expected to involve a
1:4 reverse stock split of the current outstanding shares of SMXT.
The company estimates that the merger will close in 60 days or
less. College Tonight (CT) is a social networking experience and
marketing platform, which is designed to promote actual social
interactivity among college students. Due to the mobile nature of
the site, the service's design is also structured for the mobile
user, focusing on nightlife events and social opportunities both
directly on a student's campus and within their broader
communities. CT's platform allows advertisers to tap into the world
of active, outgoing and socially motivated college students - the
trendsetters and "tastemakers" in our society. The launch of a
fully functional website is scheduled for September. This release
includes forward-looking statements. Such statements involve risk
and uncertainties, which could cause actual results to differ
materially from those, set forth herein. DATASOURCE: Simex
Technologies, Inc. CONTACT: Robert Mottern, Esq., of Jones, Haley
& Mottern, P.C., +1-770-804-0500, for Simex Technologies, Inc.
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