WORLDTEQ SIGNS LETTER OF INTENT TO ACQUIRE SELECTED ASSETS OF ST. ANDREWS TELECOMMUNICATIONS
WorldTeq Group International Inc. (OTC BB: WTEQ) a full-service solutions provider of Affinity Services including Internet Connectivity, Long Distance, Calling Cards, and Hosting Services, today announced that it has signed a letter of intent to acquire selected assets of St. Andrews Telecommunications.
Rockville, MD -- Business Wire -- April 10, 2002 - WorldTeq Group International Inc. (OTC BB: WTEQ) a full-service solutions provider of Affinity Services including Internet Connectivity, Long Distance, Calling Cards, and Hosting Services, today announced that it has signed a letter of intent to acquire selected assets of St. Andrews Telecommunications.
Bruce Bertman, CEO of WorldTeq Group International commented, We have worked with St. Andrews and their team for over a year. During that time we came to realize that together we would make a formidable combination. I feel that their added infrastructure and existing business will very positively compliment our product offerings. During 2001 St. Andrews had revenues in excess of $3.8 Million, we fully expect that business to move over to WorldTeq and make an immediate impact on our profitability."
About WorldTeq Group International
WorldTeq Group International offers a wide range of telecommunications and Internet services along with related products via independent agents, associations, sales organizations, and affiliate marketing companies, through several wholly-owned subsidiaries. Each Authorized Agent group is provided their own personalized Web site, which allows them to work directly with their own customer base. All agents receive regular recurring revenue as long as the end user remains a customer of WorldTeq Group International or its affiliated companies. WorldTeq utilizes the services of global leaders such as Qwest, Touch America, WorldCom, UUNET, Global Crossing, and Broadwing. The company operates several wholly owned subsidiaries, including a wholesale company, an Internet provider, and a billing services company. For more information you can visit the companys Web Site which can be found at http://www.worldteqgroup.com
The private Securities Litigation Reform Act of 1995 provides a safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by WorldTeq): contains statements that are forward-looking, such as statements relating to consummation of the transaction, anticipated future revenues of the companies and success of current product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of WorldTeq Group International.
Contact Bruce Bertman, President and CEO of WorldTeq Group International 888-263-7776
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