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GLOBEECOM SIGNS AN AGREEMENT IN PRINCIPLE REGARDING A REVERSE TAKE-OVER BY NETMARKETINGSOLUTION.COM INC.
NetMarketing is a privately held company located in Montreal which offers marketing services integrating the use of technology. The proposed transaction is subject to the satisfaction of several conditions, including notably the filing of a proposal by GBC at the latest on May 1, 2006 with a creditors meeting to be held at the latest on May 17, 2006, the conclusion of a formal agreement legally binding the parties, the completion of a due diligence review by GBC and NetMarkteing, receipt of the required approvals from the shareholders of GBC and receipt of all required regulatory approvals, including from the TSX Venture Exchange. As soon as the due diligence process has been commenced by NetMarketing and the negotiations regarding the conclusion of the formal agreement have reached a more advanced stage, a more detailed press release will be issued describing the terms of the proposed transaction and its related conditions. GBC considers that, if all these conditions are met, the transaction could be closed during the month of July 2006. GBC has made a request to the Exchange in order that the trading of its shares on the Exchange be halted until the closing of the proposed transaction, in order to facilitate its completion. GBC also announces that Ms. Jocelyne Pelchat has resigned from the Board of Directors for personal and professional reasons. GBC thanks Ms. Jocelyne Pelchat for her contribution. ABOUT GLOBEECOM INTERNATIONAL INC. GlobeeCom International Inc. (www.globeecom.com) is a company specialized in the elaboration of online software solutions. It positions in the convergence market between the PC and the fixed and mobile new generations of telephone, thanks to its new GlobeMeeting® technology. The prospective statements contained in this official statement are associated to known and unknown risks and as well as other factors which can make that the results, the outputs and the real achievements of the company differ largely from the future results, outputs or achievements expressed or supposed by these prospective facts. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. - 30 -
For information: Investor relations: Evolution Group Inc. GlobeeCom International Inc.
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