NEWS RELEASE TRANSMITTED BY CCN NEWSWIRE
FOR: DEXTON TECHNOLOGIES CORPORATION
CDNX SYMBOL: DXT
August 9, 2001
Dexton Divests Interest In Isitaboyorgirl.com, Cutting Expenditures To Unprofitable Investments To Improve Cash Position
VANCOUVER, BRITISH COLUMBIA–Dexton Technologies Corporation (the “Company” or “Dexton”) (CDNX: DXT) announced today that it has divested its interest in Isitaboyorgirl.com Enterprises Inc. (“Isitaboy”) by transferring its shares to certain employees and shareholders of Isitaboy in return for a release from further funding obligations and a release from any future claims. Dexton no longer has any financial interest in Isitaboy.
“We plan to focus on strategic investments in growing companies where we feel we can earn above average returns, ” said Ken Morgan, the newly appointed CEO of Dexton. “With Isitaboy, we were under an obligation to provide additional funding, but were unlikely to earn any return. The divestiture is part of our plan to cut expenditures to unprofitable investments and improve the cash position of the parent company.”
Dexton purchased an 86% interest in Isitaboyorgirl.com in September 2000 in exchange for $25,000 and a commitment to provide an additional $150,000 in funding. As of March 31, 2001, the Company had advanced $108,386.
About Dexton Technologies
Dexton Technologies Corporation is a publicly-traded merchant bank focused on the development of emerging technology companies with the
potential for exceptional growth.
This release and prior releases are available on the Company’s Internet web site located at www.dexton.com.
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