SOURCE: PlanetLink Communications, Inc.

October 22, 2007 11:06 ET

PlanetLink Signs Definitive Agreement to Acquire Pluginz

CUMMING, GA--(Marketwire - October 22, 2007) - PlanetLink Communications Inc. (OTCBB: PLKC) announced that Planettraks, a wholly owned subsidiary, has signed a definitive acquisition agreement to acquire Pluginz, LLC for a combination of stock and a promissory note. The transaction is expected to close within the next three business days.

As per the terms of the agreement, PlanetLink will issue 1,700,000,000 shares of restricted common stock to the shareholders of Pluginz, LLC and a promissory note for $75,000 due in 180 days, as consideration for the purchase of Pluginz.

"This is an exciting time for all of us as the acquisition reaches the final stage. We are diligently trying to close the acquisition within the next three business days and we are very excited about the potential increase in shareholder value that Pluginz is expected to bring to our company," commented M. Dewey Bain, Chief Executive Officer of PlanetLink.

Robert Lott, CEO of Pluginz, commented, "This has been long in the making but the delay has not kept Pluginz from progressing in some very meaningful ways. We are more excited than ever about becoming part of a public company and increasing the value of our shareholders' investments."

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The information contained in this press release includes forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect," or similar expressions that involve risks and uncertainties. These risks and uncertainties include the company's status as a startup company with uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The company's actual results could differ materially from those discussed herein. Factors that could cause or contribute to such differences are discussed more fully in the "Risk Factors," "Management's Discussion and Analysis" or "Plan of Operation" and other sections of the company's Form 10-KSB and other publicly available information regarding the company on file with the Securities and Exchange Commission. The company will provide you with copies of this information upon request.

Contact Information

  • CONTACT:
    PlanetLink Communications Inc.
    Dewey Bain
    (678) 455-7075