180 Connect Inc. Confirms Receipt of Unsolicited Acquisition Proposal from Creative Vistas, Inc.
21 Februar 2008 - 12:08AM
PR Newswire (US)
Stock Symbols: OTCBB: CNCT.OB, CNCTU.OB, CNCTW.OB TORONTO and
ENGLEWOOD, CO, Feb. 20 /PRNewswire-FirstCall/ -- 180 Connect Inc.
("180 Connect" or the "Company") (OTCBB: CNCT.OB, CNCTU.OB,
CNCTW.OB), today confirmed that its Board of Directors has received
an unsolicited proposal from Creative Vistas, Inc. (OTCBB: CVAS.OB)
to acquire all of the outstanding capital stock of 180 Connect for
$3.00 per share payable one-half in cash and one-half in Creative
Vistas, Inc. common stock. The Board of Directors of 180 Connect is
evaluating the proposal. There can be no assurance that this
evaluation will lead to any transaction. About 180 Connect 180
Connect Inc. is one of North America's largest providers of
installation, integration and fulfillment services to the home
entertainment, communications and home integration service
industries. With more than 4,000 skilled technicians and 750
support personnel based in over 85 operating locations, 180 Connect
is well positioned as the only pure play national residential
service provider in the market. Forward-Looking Statements This
news release contains forward-looking statements which reflect
management's expectations regarding the Company's future growth,
results of operations, performance and business prospects and
opportunities. Statements about the Company's future plans and
intentions, results, levels of activity, performance, goals or
achievements or other future events constitute forward-looking
statements. Wherever possible, words such as "will be", "may",
"should", "could", "expect", "plan", "intend", "anticipate",
"believe", "estimate", "predict" or "potential" or the negative or
other variations of these words, or other similar words or phrases,
have been used to identify these forward-looking statements. These
statements reflect management's current beliefs and are based on
information currently available to management. Forward-looking
statements involve significant risk, uncertainties and assumptions.
Many factors, including those discussed under the section entitled
"Risk Factors" of the Company's Quarterly Report on Form 10-Q, such
as risks regarding the Company's history of operating losses,
reliance on one key customer, ability to retain trained personnel,
ability to manage growth and acquisitions, dependence on key
employees, ongoing litigation, insurance expenses, industry
competition, seasonal fluctuations of revenue and liquidity,
customer consolidation and other factors could cause actual
results, performance or achievements to differ materially from the
results discussed or implied in the forward-looking statements.
These factors should be considered carefully and prospective
investors should not place undue reliance on the forward-looking
statements. Although the forward-looking statements contained in
this news release are based upon what management believes to be
reasonable assumptions, the Company cannot assure investors that
actual results will be consistent with these forward-looking
statements. These forward-looking statements are made as of the
date of this news release and the Company assumes no obligation to
update or revise them to reflect new events or circumstances,
except as required by law. DATASOURCE: 180 Connect Inc. CONTACT:
please contact the following or visit our website at
http://www.180connect.net/; Claudia A. Di Maio, Director Investor
Relations, TEL: (866) 995-8888, DIRECT LINE: (416) 930-7710, EMAIL:
; Devlin Lander, Integrated Corporate Relations, TEL.: (415)
292-6855
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