Fifty-Plus.Net International Inc.

Fifty-Plus.Net International Inc.

April 26, 2007 17:04 ET

Fifty-Plus.Net International Inc. Announces Letter of Intent to Acquire Media Assets

TORONTO, ONTARIO--(CCNMatthews - April 26, 2007) - The Board of Directors of Fifty-Plus.Net International Inc. (TSX VENTURE:FPN) announces that it has entered into a letter of intent dated April 26, 2007 with a third party to acquire certain media assets which are synergistic with its online media business. If and when certain third party conditions are satisfied, which is expected to take up to seventy-five days, further announcements will be made on the details and status of this transaction every thirty days or less, if appropriate. If the acquisition is concluded, new funds would be raised for Fifty-Plus, a substantial number of shares of Fifty-Plus would be issued in consideration for the assets, and Fifty-Plus would have one or more substantial new shareholders.

Completion of the transaction is subject to a number of substantive conditions, including but not limited to, settlement of definitive agreements, acceptance by the TSX Venture Exchange and disinterested shareholder approval. The company anticipates that once the deal terms and certain substantive conditions precedent are satisfied, Fifty-Plus.Net will issue a comprehensive press release detailing the terms of the proposed transaction. The transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular to be prepared in connection with the transaction, any information released or received with respect to the proposed transaction may not be accurate or complete and should not be relied upon. Any trading in the securities of FPN should be considered highly speculative.

Trading in the shares of FPN will be halted by the TSX Venture Exchange and trading will not be permitted to resume until such time as more detailed disclosure regarding the transaction becomes available and the TSX Venture Exchange has completed customary file review and due diligence procedures. At the present time, management of FPN does not anticipate that trading in the shares of FPN will resume until such time as the proposed transactions are either completed or abandoned.

About International Inc. International Inc. (FPN) operates as The 50Plus Group, Canada's leading provider of online content targeting the 50+ age group. Altogether, the 50Plus Group's portfolio of web sites and electronic newsletters delivers over 2 million page views per month. The key property is, delivering a wide range of information, entertainment, community (forums, dating, blogs) and commerce together with four electronic newsletters - on health, money, travel, and lifestyle, each of which has over 120,000 opt-in subscribers.

The 50Plus Group also produces an electronic newsletter, CARPAction Online, as well as, the online home of CARP, Canada's Association for the Fifty-plus. With 400,000 members, CARP is Canada's largest association for the Fifty-plus. In addition, The 50Plus Group has just launched, a web site focused on CARP's advocacy campaign, "No More Waiting," which aims to influence government to improve health care performance.

The 50Plus Group has a strategic alliance with Decima Research, to develop original research on the 50+ market, its demographics, psychographics and purchasing behavior.

Cautionary Statement on Forward-Looking Statements

Certain statements made in this report are 'forward-looking statements' which may include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain the words 'believe', 'anticipate', 'expect', 'estimate', 'project', 'will be', 'will continue', 'will likely result' or similar words or phrases. Forward-looking statements involve risks and uncertainties, which may cause actual results to differ materially from the forward-looking statements. The risks and uncertainties are detailed from time to time in filings by Fifty-Plus.Net International Inc. with provincial securities commissions. New risk factors emerge from time to time and it is not possible for management to predict all such risk factors, nor can it assess the impact of all such risk factors on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Contact Information

  • International Inc.
    David Cravit
    Senior Vice President
    (416) 363-7063