CyberAds to Acquire Majority Interest in Planet X Group, Inc. Friday December 16, 6:00 am ET
Media Property Natural Extension of CyberAds Vision
TORRANCE, CA--(MARKET WIRE)--Dec 16, 2005 -- CyberAds, Inc. (OTC BB:CYAD.OB - News) an extreme sports and lifestyle marketing company, announced today that they have executed a Letter of Understanding (LOU) with Planet One Ventures (POV) -- the producers of Planet X TV programs and other extreme sports programming -- as part of a strategic initiative to expand CYAD's marketing reach into the extreme lifestyle segment. The final terms and conditions are subject to review and approval by both companies' legal representatives and Board of Directors. The acquisition is expected to close in January 2006. ADVERTISEMENT "This acquisition and ultimate partnership is a classic win-win deal," stated Walt Tatum, CEO of CyberAds. "POV will benefit from immediate access to our compatible client base that is eager to reach their active, young audience and CYAD will benefit through expansion of our business model by adding a dynamic media property that will dovetail with our event management and promotion division." CyberAds has previously placed client products on Planet X TV and is accelerating plans to bring other products to the attractive, youth oriented media that currently reaches over 75 million homes in North America and other foreign markets.
Planet X Group Inc. will become a majority owned subsidiary of CyberAds with immediate objectives to increase advertising sales, marketing activities, distribution and expansion of the weekly Planet X product and other branded media ventures to be announced.
The companies have worked together for the past several months to build a compatible business model. Don Phillip Durban, Founder / Chief Executive Officer of Planet X Group, Inc., stated, "With our recent Tenth Anniversary and work with CyberAds, an extreme sports lifestyle company, we knew the match was ideal! The mix of smart leadership, growth potential and product development will give the new Planet X a world of opportunities and resources to further its global and U.S. based market developments."
About CyberAds, Inc.
CyberAds, Inc. is an extreme sports lifestyle marketing company that provides professional services for product manufacturing companies. The company specializes in marketing and distribution of extreme sports products. CyberAds has secured the exclusive rights for distribution of XBoard in North America and has partnered with Aqua Xtremes, Inc. to bring this revolutionary product to market. Other clients include Rhino Off-Road Industries manufacturer of Rhino RTVs and Klegg Electronics distributor of the worlds smallest color display MP3 Player. For information on CyberAds, call (800) 288-3099 visit www.cyberadsinc.com.
About POV - Planet One Ventures, Inc.:
San Diego based POV is a media, marketing and programming company formed in late 2004 and specializes in the sports and fitness markets with a special emphasis on the youth category. As the producer of the world famous Planet X TV line-up, it is managing the launch of numerous spin-off TV and media properties in cooperation with companies such as National Lampoon, Starz Entertainment Group and Genius Products. For information on POV and Planet X, please contact Meredythe Dee Winter 310.415.0054 meredythe@planet.tv
About Planet X Group, Inc.
Carlsbad, California based Planet X Group, Inc. is the sales, marketing and management company behind Planet X Television, a production of Planet One Ventures, Inc. The company oversees all sales and marketing activity of Planet X TV and its group of clients and partners who want to target the youth, fitness, extreme sports and Hispanic markets.
Cautionary Statement for the Purpose of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995: Forward-looking statements in this news release are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain important factors could cause results to differ materially from those anticipated by the forward-looking statements, including the impact of changed economic or business conditions, the impact of competition, the success of existing and new product releases, the management of our growth, other risk factors inherent in the internet, and extreme sports industries, and other factors discussed from time to time in reports filed by the company with the Securities and Exchange Commission.
CyberAds, Inc. has and continues to institute changes to its strategies, operations and processes to address these risk factors and to mitigate their impact on CyberAds, Inc. results of operations and financial condition. However, no assurances can be given that CyberAds, Inc. will be successful in these efforts.
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