Meier Worldwide Intermedia: Share Exchange with Covenant Corporation
HOLLYWOOD--(BUSINESS WIRE)--July 17, 2003--A Share Exchange with Covenant Corporation on June 26, 2003, a Common Stock Purchase Agreement (the "Agreement") was made and entered into and closed between Meier Worldwide Intermedia, Inc., a Nevada corporation ("Buyer") and Covenant Corporation, a Nevada corporation ("Seller").
The Buyer acquired all issued and outstanding shares of common stock of Seller, except for those shareholders of Seller, if any, exercising dissenters' rights under Nevada law, by way of an exchange of shares (the "Exchange").
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As a result of the Exchange, the outstanding shares of Seller common stock were exchanged for 16,520,500 shares of Buyer common stock, making Seller our wholly owned subsidiary.
In total, after taking into account all parties, there are currently approximately 17,138,263 shares of common stock outstanding at the closing of the Exchange.
We urge all interested parties to review the Common Stock Purchase Agreement dated as of June 26, 2003, which is attached as Exhibit 2.1 to our filing on Form 8-K with the SEC On June 27, 2003.
THE BUSINESS OF SELLER
Covenant is developing a service designed to counteract online piracy of video, music and software files. Covenant's primary service essentially uploads to pirate sites a large number of fictitious files with a video, music or software name, making it more difficult for visitors to the pirate site to download the real video, music or software they are attempting to pirate.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
Website: www.meier-worldwide.com and www.covenant-corporation.com