Source: CEO America
CEO America (PINK SHEETS:CEOA), exclusive US licensee of Creditz Digital Currency, today announced that it has agreed to acquire the Canadian license and operations and assets of CEO Credit (PINK SHEETS:CEOX).
CEOA will then create a new wholly-owned Canadian subsidiary, intended to be called CEO Canada, Inc., to manage the Canadian license and operations of CREDITZ.
Shareholders of record of CEOX at the close of business on February 25, 2008, will acquire one share of CEO America, Inc., for every share they have in CEOX. In addition, CEOX shareholders will retain their shares in CEOX, following whereby CEOX will search for a new acquisition candidate.
As part of the acquisition, CEOX will immediately change its name and trading symbol.
David Vaters, Chairman of CEOA, stated, "We believe this consolidation of operations and marketing efforts into one corporate entity will enhance our offering, streamline our activities and reduce our costs to service clients in North America."