LWN: Argent Resources Ltd acquires Lute Linux.com Corp.
Jul 13, 2000, 06:44 (0 Talkback[s])
Re-Imagining Linux Platforms to Meet the Needs of Cloud Service Providers
"Argent Resources Ltd. ("Argent") is pleased to announce that it
has signed an agreement dated July 12, 2000, with Lute Linux.com
Corp. ("Lute") that will result in Argent acquiring 100% control of
Lute from Russ Rossi, RRGS Creative Management Corp. and Quest
Ventures Ltd. all B.C. based individuals or corporate entities.
Argent will issue 10,100,000 common shares in its capital stock at
a deemed issuance price of $0.29 per share to complete the
transaction. These shares will be issued as surplus escrow shares
and released according to Canadian Venture Exchange policies. This
agreement involves both a change in business and a reverse takeover
according to Exchange policies. The Company's shares will remain
halted until the sponsorship acknowledgement form and the filing
documents have been accepted by the Exchange. Completion of the
transaction is subject to shareholder approval on a majority of the
minority basis, CDNX acceptance and the resulting company meeting
minimum listing requirements as a Tier 2, Category 3 Technology
"Lute, a private Denver, Colorado incorporated in March, 2000,
is a software-development, training, and consulting company. Lute
has offices in Denver and in Vancouver and has a staff of 9
employees. Lute is developing a Linux-based operating system
and associated software applications."