Shareholder Approval Assured; New Company to Be Named
Internet Commerce & Communications, Inc.
DENVER, Nov. 28 /PRNewswire/ -- RMI.NET, Inc. (Nasdaq: RMII), and Internet
Communications Corporation (Nasdaq: INCC) shareholders will meet today and are
expected to approve the two companies' merger into a new company named
Internet Commerce & Communications, Inc.
(Photo: http://www.newscom.com/cgi-bin/prnh/19990628/RMILOGO )
Both companies have already secured the required shareholder majorities in
favor of RMI's acquisition of INCC, which is expected to close Wednesday, Nov.
29.
"We are very pleased that our shareholders have reviewed the terms and
have voted overwhelmingly to support this merger, which we believe will create
a strong new company ideally positioned to take advantage of the exploding web
commerce space," stated Douglas H. Hanson, RMI.NET Chairman and CEO. "We have
been focusing intensely on the integration process, working to gain the
important synergies that motivated us to pursue this acquisition and create a
more valuable entity for both companies' shareholders."
RMI.NET and INCC will hold separate meetings of their shareholders today
to vote on the proposed transaction. Both meetings will take place at the
Hotel Monaco in downtown Denver. INCC's shareholder meeting is scheduled for
9:00 a.m. MST, and the RMI.NET shareholder meeting will follow at
11:00 a.m. MST.
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 be
consummated for 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
CONTACT:
Jeremy Bronson of RMI.NET, 303-672-0706,
jbronson@rmi.net; or Tom Galley of INCC, 303-414-7111,
tomgalley@incc.net
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