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February 13, 2006 07:28 AM US Eastern Timezone
Metropolitan Worldwide, Inc. Reports Preliminary Offer to Repurchase NicStic AG Common Shares and Possible Acquisition of Certain Company Licenses
KREUZLINGEN, Switzerland & FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Feb. 13, 2006--METROPOLITAN WORLDWIDE, INC. (Pink Sheets: MWWM)(or the " Company" ) announced today that it intends to consolidate all of its prior announced activities with respect to NicStic, the first non-smoking cigarette to soon be distributed in the United States with other media, promotional and entertainment activities. The new division, or possibly subsidiary, which will soon be determined, will be known as Fabulous-Promotion and Entertainment and will develop public relations and marketing campaigns for not only NicStic,but also for other products or merchandise that would be marketed and sold in the same sales distribution channels as NicStic.
CobraCrest KGAA (CobraCrest), a German company whose common shares are traded publicly on the Frankfurt Exchange, recently made an offer to NicStic AG of Switzerland, the holder of the patent on NicStic, to acquire 52% of the common shares of NicStic AG. In connection with this proposed transaction, the Company agreed to escrow one million shares of its holdings in NicStic AG as part of the offer, subject to NicStic AG's and the Company's due diligence, fairness opinions obtained by each company's Board of Directors and the consummation of a definitive purchase agreement. Presuming that all conditions to a definitive agreement are met, the Company would then release the escrowed one million shares to CobraCrest and receive its proportionate share of the consideration to be paid by CobraCrest for the 52% of NicStic AG. In addition, CobraCrest has commenced separate discussions with the Company with respect to the possible acquisition of the Company's exclusive manufacturing and distribution rights of the NicStic product in the North and South American territories that are presently a part of Fabulous-Promotion and Entertainment
According to Evert Wilbrink, President of the Company, " We intend to continue with a dual strategy of both bringing the NicStic and complimentary products to market in the Americas as well as to explore merger and acquisition transactions that could provide substantial upside value to our shareholders."
Disclaimer: Information within this email contains " forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, goals, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be " forward looking statements."
Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through the use of words such as: " projects," " foresee," " expects," " estimates," believes," " understand," " will," " anticipates," or that by statements indicating certain actions " may," " could," or " might" occur. All information provided within this email pertaining to investing, stocks, securities must be understood as information provided and not investment advice. Emerging Equity Alert advises all readers and subscribers to seek advice from a registered professional securities representative before deciding to trade in stocks featured within this email. None of the material within this report shall be construed as any kind of investment advice. In compliance with Section 17(b), we disclose the holding of independently purchased shares of MWWM prior to the publication of this report. Be aware of an inherent conflict of interest resulting from such holdings due to our intent to profit from the liquidation of these shares. Shares may be sold at any time, even after positive statements have been made regarding the above company.
Contacts
Metropolitan Worldwide, Inc.
Evert Wilbrink, 954-591-4120
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