“Simply.com Incorporated is pleased to announce that it has
entered into an agreement for a reverse takeover of First Canadian
Energy (FCN). The purchase price of $1,700,000 Cdn will be paid by
FCN by the issuance of 17,000,000 common shares from First
Canadian’s treasury at a deemed price of $0.10 per share. The
proposed transaction is subject to a number of conditions
including, but not limited to, shareholder and regulatory
approvals.”
“‘As a public company Simply.com will continue to
aggressively pursue the strategy of developing Linux®
open-source products,’ according to Brad Leith, President of
Simply.com Inc. ‘In addition, we will expand the development of the
Simply® brand of video conferencing and communication
collaboration enabled solutions. This will position Simply.com to
take advantage of the market expansion & accelerated growth in
the use of video and media technologies globally.'”
“Through its acquisitions, Simply.com has obtained and developed
a Linux code designed specifically for video conferencing
applications. Simply.com expects its Linux code and related
products to make intranet and Internet video collaboration for
Linux users a reality.”