Zoi Interactive Technologies Has Entered Into a Letter of Intent to Acquire Tournament Games, Inc.
CENTENNIAL, Colo., April 26 /PRNewswire-FirstCall/ -- CET Services, Inc. (AMEX:ENV) is pleased to announce that the Company has entered into a letter of intent to acquire Zoi Interactive Technologies Inc. ("Zoitec") through a reverse acquisition. The acquisition is subject to completion of due diligence reviews by both parties; the execution of a definitive agreement; receipt of satisfactory fairness opinions; final financial statement audits; the approval of the American Stock Exchange; and the approval of the definitive agreement and certain other matters by the Company's shareholders. The number of shares that would be issued by the Company in the reverse acquisition has not yet been determined.
Zoitec develops and deploys cutting-edge, interactive, consumer-utilized technologies specifically accessed through the Internet. Zoitec's interactive Internet technologies consist of consumer entertainment programs and consumer lifestyle enhancement programs, two of the fastest growing and most utilized areas of the Internet. The Company distributes these programs through the following vehicles: 1) direct distribution through the Internet; 2) Zoitec's corporate licensing program; and 3) its patent-pending, interactive communication platform called REACT -- Real-Time Entertainment Advertising Communication Tool. REACT incorporates a variety of interactive content controlled by Zoitec including tournament skill games, consumer coupon discount centers, music-related products, humor, travel discount centers and community portals. While the Company has not verified the information included, Zoitec's website containing information about its business and operations is available at http://www.zoitec.com/.
Zoitec has announced that it has entered into a letter of intent to purchase Tournament Games, Inc. Tournament Games, online since 1997, was the Internet's first online tournament skill game platform. The acquisition of Tournament Games is a key part of Zoitec's strategy for the implementation of its long-term business objectives.
Statements in this press release that are not strictly historical are "forward-looking" statements within the meaning of the Safe Harbor provisions of the federal security laws. Forward-looking statements involve risks and uncertainties, including, but not limited to, a failure or difficulty in obtaining third party approvals; failure to obtain necessary audited financial statements; material unknown factors discovered during due diligence reviews; the ability of Zoitec to raise funds needed to execute its business strategy; the final negotiated terms included in a definitive agreement; the uncertainty of shareholder approval; and other risks detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. DATASOURCE: CET Services, Inc.
CONTACT: Steven H. Davis, CEO and President, or Dale W. Bleck, CFO, both of CET Services, Inc., +1-720-875-9115 Web site: http://www.zoitec.com/
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