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SYNOPSIS
GERMANY - GA Computer Sciences Inc of Canada planned to acquie th entire share capital of VitaVea AG, a producer and retailer of food supplements.
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2006-01-06 Close Window
15:30:01
GA Computer Sciences Inc.: Acquisition Negotiations-VitaVea AG
Business Editors
VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 6, 2006--
GA Computer Sciences Inc. (OTCBB:GACS) (the "Company")
announced today that it has entered into negotiations for the
acquisition of VitaVea AG, a company based in Germany. VitaVea AG is
engaged in the production and sale of food supplements. Under the
terms of the proposed acquisition, the Company would issue a
substantial number of its common shares in exchange for 100% of the
shares of VitaVea AG. Details of any agreement reached will be
reported once negotiations have concluded.
To ensure that the Company has sufficient authorized capital to
complete any agreement reached, the Company's directors have approved
a one for ten share split of both the authorized and issued capital of
the Company. The split is expected to be effective January 17, 2006
subject to approval of that date by the NASD. The split will be a true
split and not a dividend and accordingly, shareholders will be
requested to deliver their share certificates representing the
pre-split common shares to the Company's transfer agent against
delivery of new certificates representing the post-split shares. A
letter of transmittal for the exchange of the shares will be delivered
to the stockholders upon the split being effective.
As a result of the split, the Company's authorized capital will be
increased from 75,000,000 common shares, par value $0.001 of which
7,120,000 shares are issued and outstanding to 750,000,000 common
shares, par value $0.001, of which 71,200,000 are issued and
outstanding.
This Press Release may contain, in addition, to historical
information, forward-looking statements. These statements may involve
known and unknown risks and uncertainties and other factors that may
cause the actual results to be materially different from the results
implied herein, including, but not limited to, risks and uncertainties
related to the Company's due diligence investigations and with the
negotiation of a definitive agreement with VitaVea AG. There is no
assurance that the Company will be able to reach an agreement to
acquire VitaVea AG.
Readers are cautioned not to place undue reliance on the
forward-looking statements made in this Press Release.
GA COMPUTER SCIENCES INC.
Peter Hoyle, President
GA Computer Sciences Inc. (OTC Bulletin Board:GACS)
KEYWORD: EUROPE NORTH AMERICA NEW YORK UNITED STATES CANADA GERMANY
INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS MERGER/ACQUISITION
SOURCE: GA Computer Sciences Inc.
CONTACT INFORMATION:
GA Computer Sciences Inc.
Peter Hoyle
President
(604) 298-6368
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