Fifty-Plus.Net International Inc. Resumes Trading on the TSX:V
15 February 2008 - 12:00AM
Marketwired
TORONTO, ONTARIO (TSX VENTURE: FPN) are pleased to announce that
the common shares of the company resumed trading today on the TSX
Venture Exchange ("TSXV") under the symbol "FPN".
The common shares were halted as part of a Reverse Takeover
("RTO") transaction that closed on December 28, 2007 (Press Release
December 31, 2007). Under the transaction, Olympus Management
Limited ("OML") acquired control of FPN through a Reverse Take-Over
by providing cash and vending in certain assets. OML is a private
Ontario corporation, owned and operated by noted media entrepreneur
Moses Znaimer.
Znaimer's interest in FPN is part of his quest to redefine the
meaning of "aging" by revisiting the image and highlighting the
needs of a growing, vibrant and affluent generation commonly known
as Boomers, now re-coined by Znaimer as ZOOMERs (Boomers with
Zip!).
Mr. Znaimer is currently Chairman/Executive Producer of
Classical 96.3 FM and 101.3 FM radio, Toronto, and
President/Executive Producer of MZTV, a boutique television
production and distribution company in Toronto. He was co-founder,
President and Executive Producer of Citytv, MuchMusic, Bravo!,
Space and Canadian Learning Television, as well as many other local
stations and national specialty TV channels in Canada and around
the world.
The effect of the transaction is the consolidation under FPN of
both the online and offline media currently associated with CARP
and published on behalf of CARP, including CARP Magazine,
www.CARP.ca and www.NoMoreWaiting.info. These will be complemented
by FPN's other online publishing assets, including www.50plus.com
and five electronic newsletters, each with 120,000 opt-in
subscribers. In all, FPN's portfolio of web sites and electronic
newsletters delivers over 2 million pages views per month.
As a result of the Reverse Take-Over, the current issued and
outstanding share capital of FPN is 170,538,803 common shares on a
non-diluted basis and 216,634,820 common shares on a fully diluted
basis.
Fifty-Plus.Net International Inc. also announced the grant,
pursuant to its Stock Option Plan, of 13,766,018 incentive stock
options effective January 25, 2008. The options vest over three
years with an exercise price ranging between $0.10 and $0.15 per
share and expire in five years. Incentive stock options were
granted to employees, directors, officers and consultants.
About Fifty-Plus.Net International Inc.
Fifty-Plus.Net International Inc. (FPN) operates as The 50Plus
Group, Canada's leading provider of online content targeting the
50+ age group. Altogether, the 50Plus Group's portfolio of web
sites and electronic newsletters delivers over 2 million pages
views per month. The key media properties are www.50plus.com,
delivering a wide range of information, entertainment, community
(forums, dating, blogs) and commerce together with five electronic
newsletters, each of which has over 120,000 opt-in subscribers, and
CARP Magazine, the magazine of CARP, Canada's Association for the
Fifty-Plus, which is published nine times a year. The magazine is
directed to a Canadian readership base and is distributed by mail
to approximately 190,000 paid subscribers.
The 50Plus Group also produces and manages www.carp.ca, the
online home of CARP. With almost 400,000 members, CARP is Canada's
largest association for the 50+. In addition, the 50Plus Group
manages www.nomorewaiting.info, a web site focusing on CARP's
advocacy campaign, "No More Waiting," which aims to influence
governments to improve health care performance. The 50Plus Group
also produces CARP Action Online, an electronic newsletter for CARP
members.
Cautionary note on forward-looking statements
No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained
herein. Certain statements made in this release are
"forward-looking statements" which may include, without limitation,
any statement that may predict, forecast, indicate or imply future
results, performance or achievements, and may contain the words
'believe,' 'anticipate,' 'expect,' 'estimate,' 'project,' 'will
be,' 'will continue,' 'will likely result' or similar words or
phrases. Forward-looking statements involve risks and
uncertainties, which may cause actual results to differ materially
from the forward-looking statements. The risks and uncertainties
are detailed from time to time in filings by Fifty-Plus.Net
International Inc. with provincial securities commissions. New risk
factors emerge from time to time and it is not possible for
management to predict all such risk factors, nor can it assess the
impact of all such risk factors on the Company's business or the
extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in any
forward-looking statements. Given these risks and uncertainties,
investors should not place undue reliance on forward-looking
statements as a prediction of actual results.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Fifty-Plus.Net International Inc. Eric Vengroff
Executive Vice President (416) 363-7063, ext. 235 Email:
e.vengroff@50plus.com Website: www.50plus.com
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