RecycleNet Announces Oldwebsites.com Inc. Spin-off
September 5,
2007
SALT LAKE CITY, UTAH --(MARKET WIRE) -- Sep.5, 2007 -- Paul Roszel, Chairman and CEO of RecycleNet Corporation (OTC Bulletin Board: GARM) is pleased to announce the spin-off of Oldwebsites.com Inc., a wholly owned subsidiary. All common shareholders of record as of the close of business on September 7, 2007 shall receive 1 share Oldwebsites.com Inc. for each 10 shares of RecycleNet Corporation.
RecycleNet Corporation believes the spin-off of Oldwebsites.com Inc. will unlock the hidden value of its portfolio of websites and targeted domain names for shareholders. RecycleNet Corporation acquired Fiberglass.com Inc. in 2001 and launched an aggressive plan to acquire quality market-oriented websites. By 2003 oldwebsites.com was created as a marketplace for old websites and domain names. In early 2007 Fiberglass.com Inc. changed its name to Oldwebsites.com Inc. and currently manages a portfolio of highly targeted websites that generate high quality organic search traffic, as well as offer a platform to buy and sell websites and domain names.
The spin off of Oldwebsites.com Inc. will allow RecycleNet Corporation to focus on the core recycling market it has developed as well as mature to the next phase of its business plan. Oldwebsites.com Inc. plans to further develop its targeted websites to create content rich online communities that will deliver the highest degree of user satisfaction and create a reliable stream of income and growth across numerous markets.
Oldwebsites.com Inc. is a reporting company under the Securities and Exchange Act of 1934 and its reports are available on the Securities and Exchange Commission's web site at www.sec.gov. It is the intent of Oldwebsites.com Inc. to become a publicly traded
company.
About RecycleNet
RecycleNet operates an Online Secondary Commodities Exchange www.recycle.net. Founded in 1995, RecycleNet created a powerful platform to facilitate the international trade of secondary commodities. RecycleNet Corporation enables trade on a local, national and international basis with customized sites locating markets around the world in many different commodities. On any given day, there is in excess of USD$200 million in recyclable commodities being added into our exchanges for international trade. RecycleNet Corporation continues to pursue its aggressive plans of merger, acquisition, joint ventures, and strategic alliance. If its Scrap or Used it’s www.recycle.net!
For further information contact:
RecycleNet Corporation
Contact: Tom Hattle
Telephone: (801) 531-0404
Email: info@recyclenet.com
www.recyclenet.com
