DENVER, Oct. 31 /PRNewswire/ -- RMI.NET, Inc. (Nasdaq: RMII) and Internet
Communications Corporation (Nasdaq: INCC) announced today that they mailed
proxy statements to shareholders on October 26 regarding their pending merger.
The proxy statements, sent to shareholders of record as of October 3, 2000,
contain the recommendations of each company's board of directors that
shareholders vote in favor of the merger.
(Photo: http://www.newscom.com/cgi-bin/prnh/19990628/RMILOGO )
"We are pleased that the companies are on track to get the merger closed
as scheduled," stated Douglas H. Hanson, RMI.NET Chairman and CEO. "We are
urging our shareholders to approve this merger, which we believe will create a
strong new company ideally positioned to take advantage of the booming
business web commerce space."
Tom Galley, CEO of INCC, added: "Our team has been working closely with
RMI.NET's management to facilitate a smooth integration into their operation,
and we continue to identify new areas where the merger will create market and
operational strength for the new company."
RMI.NET and INCC will hold separate meetings of their shareholders to vote
on the proposed transaction. The merger is then expected to close immediately
following the shareholder meetings, provided that shareholders of both
companies approve the merger.
INCC's shareholder meeting is scheduled for 9:00 a.m. MDT on November 28,
2000, at the Hotel Monaco, 1717 Champa Street in Denver. The commitment by
INCC's controlling shareholder, Interwest Group, Inc., to vote in favor of the
merger assures shareholder approval by INCC.
The RMI.NET shareholder meeting will follow INCC's meeting, at 11:00 a.m.
MDT, also at the Hotel Monaco. At the RMI.NET shareholder meeting, the
company will also seek approval to change its name, following the merger, to
Internet Commerce & Communications, Inc. As a result of the merger and name
change, the new company will use INCC as its ticker symbol.
About RMI.NET
Denver-based RMI.NET is a national e-commerce and connectivity company
focusing on Web solutions for small and medium-sized businesses. The company
specializes in e-business applications; hosting and co-location; web design
and web marketing; and high-speed Internet access, including DSL service.
RMI.NET has annualized revenue of approximately $50 million and more than
100,000 customers nationwide. The company wholly owns a shopping, e-commerce
and portal site, http://www.webzone.com. For more information, call (800) 411-6066
or visit RMI.NET's website at http://www.rmi.net.
About Internet Communications
INCC is an Internet technologies and integration company that specializes
in the design, implementation, and management of Web-based applications and
connections, wide area networks, voice systems and e-commerce solutions. INCC
is headquartered near Denver in Greenwood Village, Colo., and markets its
products and services to Colorado-based middle market businesses. Call
303-414-7151 or visit INCC's website at http://www.incc.net for investor-related
information and a description of the company's products and services.
This press release may contain forward-looking statements. Although the
companies believe these statements are based on reasonable assumptions,
differences between assumed facts and actual results can be material,
depending on the circumstances. For example, the merger may not receive
shareholder approval or may not be consummated for other, unforeseen reasons,
or the merged company may not perform according to preliminary forecasts.
Investors should be aware of the important factors and risks that could have a
material impact on future cash results and should refer to the cautionary
statements sections of RMI.NET's and INCC's periodic filings with the
Securities and Exchange Commission, including their most recent forms 10-K and
10-Q.
SOURCE RMI.NET, Inc.
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Related links:
http://www.rmi.net
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/19990628/RMILOGO
PRN Photo Desk, 888-776-6555 or 201-369-3467
Company News On-Call:
http://www.prnewswire.com/comp/139760.html or fax,
800-758-5804, ext. 139760
CONTACT:
Jeremy Bronson of RMI.NET, Inc.,
303-672-0706, jbronson@rmi.net; or Tom Galley of Internet
Communications Corporation, 303-414-7151, tomgalley@incc.net
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