SOURCE: Paivis, Corp.

December 20, 2007 14:06 ET

Paivis, Corp. Announces Signing of Merger Agreement With TRUSTCASH Holdings, Inc.; Paivis Common Shareholders to Receive $0.65/Share in TRUSTCASH Preferred Stock

ATLANTA, GA--(Marketwire - December 20, 2007) - Paivis, Corp. ("PAIVIS" or the "Company") (OTCBB: PAVC) today announces it has signed a Definitive Agreement and Plan of Merger with TRUSTCASH Holdings, Inc., a fully reporting publicly traded company ("TRUSTCASH"). Terms of the merger provide for PAIVIS common shareholders to receive $0.65/share in a TRUSTCASH Preferred Stock exchange.

As per terms of the Definitive Agreement, the merger is planned and expected to close by January 31, 2008.

Management believes its efforts have achieved a quality value in terms of purchase price and preferred rights and preferences. Furthermore, the execution of this merger agreement is a culmination of diligent work by Company management to merge PAIVIS with another publicly traded company that can provide the best opportunity for increased long-term value for PAIVIS shareholders.

Further details on the Definitive Agreement, and preferred shares rights preferences will be forthcoming through further press releases and public filings.

About Paivis, Corp.

Paivis, Corp. is a wholesale telecommunications carrier that sells prepaid "point-of-sale activated" and live cards. Paivis generates its revenues through the sale of prepaid calling cards and wireless services, and international wholesale termination. Products are sold throughout many of the country's major retail outlets, including Duane Reade, 7-Eleven, and Chevron.


The Private Securities Litigation Reform Act of 1995 (the "PSLRA") provides a "safe harbor" for forward-looking statements so long as those statements are identified as forward-looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those projected in such statements.

Statements contained herein that are not based on historical fact, as well as other statements including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," "will," "could" and other similar expressions, constitute forward-looking statements under the PSLRA. PAIVIS intends that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause PAIVIS actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in PAIVIS annual, quarterly and other periodic public filings on record with the Securities and Exchange Commission which can be viewed free of charge on its website at

Contact Information

  • Contacts:
    Paivis, Corp.
    Edwin Kwong
    Interim Chief Executive Officer
    Phone: 404-601-2885