MONTREAL, June 2 /CNW Telbec/ - Emergence Resort Canada Inc.
("Emergence") (ERS.H), a capital pool company listed on the NEX board, since
January 2005, is pleased to announce it has completed the acquisition of all
(6,000,000) issued and outstanding shares in the share capital of ACFAW.COM
Inc. ("ACFAW"), in exchange for the issuance, on a 1:1 basis, of 6,000,000
Emergence common shares to the shareholders of ACFAW (the "Acquisition"). The
Acquisition is Emergence's Qualifying Transaction.
Based in Montreal, ACFAW is a new company in the social entrepreneurship
world. With proprietary technology, ACFAW develops high-tech platforms for
professional websites receiving large volume of visitors, mainly humanitarian
in nature. Its revenues will be derived from advertising posted on its
websites and from licensing its technology platforms. ACFAW had $429,667 in
assets on its April 1, 2009 audited balance sheet. For more information,
please visit www.acfaw.com.
As a result of the Acquisition, Emergence has a total of 12,387,532
issued and outstanding common shares, the 6,000,000 common shares issued
pursuant to the Acquisition being subject to escrow provisions in accordance
with the policies of the Canadian National Stock Exchange ("CNSX"). All
options granted by Emergence prior to the Acquisition have been cancelled.
Emergence has requested that its common shares be delisted from the NEX
to be listed on the CNSX, and has just received approval for the listing of
its common shares on the CNSX and will be trading under the symbol: ACW.
Immediately following the completion of the Acquisition, Emergence
changed its business name to "ACFAW.COM Inc.", and the directors of Emergence
resigned from their functions, appointing a new Board consisting of Mr.
Francois Houille de Beaulieu (President, Secretary, CEO and acting CFO), Mr.
Luigi Lo Basso and Mr. Lies Kerrar.
Mr. de Beaulieu, who has been the president and CEO of Emergence since
its inception, has extensive experience in international developments (France,
Switzerland, USA, North Africa, Central America and Canada). He has held
various top executive positions with General Electric, Olivetti-Hermes. He
studied Literature and Human Sciences in Paris, and Communication at the
Institut des Sciences Politiques (Paris). On the board of private companies,
he is also on the Honorary Committee of the Club Richelieu-Alain Briottet in
Mr. Lo Basso, MBA, is the CFO of Omniglobe Inc., a Telecommunication
company based in Montreal. He has occupied various executive positions in the
Telecom Industry over the past 25 years, mainly as Finance Director or CFO for
BCI and several of its subsidiaries. Mr. Lo Basso has extensive experience
with publicly listed companies in both the USA and Canada, and the regulations
Mr. Kerrar, MBA, studied in France then in Canada. He is the founder and
president of Humilis Corporate Finance, a major finance advisory services
company based in Algiers (Algeria). Mr. Kerrar has raised more than $2.5
billion in debt and equity over the last three years and has developed a
strong knowledge of the European and Middle-Eastern financial markets.
Neither the NEX or the CNSX have either approved or disapproved the
content of this press release.
For further information:
For further information: ACFAW.COM Inc. (Emergence Resort Canada Inc.):
François H. de Beaulieu, President, (514) 933-1503, Fax: (514) 933-9871