GI Tech, WENR's first acquisition, will provide WENR with several ongoing businesses and a significant pool of technical talent. GI Tech has been in business for 5 years, was profitable in 1999 and expects to continue profitability. WENR's continued focus for future acquisitions will be to acquire non-start-up concerns, such as GI Tech.
The combined visions of web-based GI Tech and brick-and-mortar WENR Corporation creates a stronger business alliance to enhance the future acquisitions WENR will make. GI Tech will be used as a platform company for WENR to launch e-commerce, e-management, and e-tools for existing ``brick and mortar'' companies. Utilizing the talents of GI Tech's web development team, these acquisitions will be enhanced by incorporating the Internet to expand sales for both Business-to-Business and Business-to-Consumer, using an e-tools software package developed by GI Tech.
WENR 0005GI Tech share the same corporate values that will provide a strategic opportunity to increase future acquisitions and provide greater value to WENR and its shareholders. WENR will also assist with the growth of the corporate alliances GI Tech has negotiated with Hewlett Packard, Clear Channel Communications, and Azon Color.
Richard Hagman, WENR CEO, said, ``We are very pleased to have Charles Weinbeck and his outstanding GI Tech employees as part of our Company. We share the view that new economy companies should be run like old economy ones: for solid value creation and earnings. WENR will rely heavily on Charles for assistance in due diligence on other acquisitions in the technology realm. We expect to grow rapidly and prudently through the purchase of good, well-established, well-run, operating businesses.''
Western maintains offices in Denver and Los Angeles; has over 750 shareholders and 5 market makers.
Contacts: Richard Hagman, CEO of WENR Corp., 303-771-6601, rhagman@msn.com, or Dan Green, President of WENR Corp., 310- 337-0998, dgreen@wenr.net; or Charles Weinbeck, CEO of GI TECH, 970-493-2150, chas@gitech.com.
Disclaimer
This news release contains information that is ``forward-looking'' in that it describes events and conditions, which WENR Corp. reasonably expects to occur in the future. Expectations for the future performance of the business of WENR Corp. is dependent on a number of factors, and there can be no assurance that WENR Corp. will achieve the results as contemplated herein. The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks including the possibility that the described transaction will not be completed.
SOURCE: WENR Corporation