eShippers to sell Web-based shipping business

Mr. Brian Tingle reports

ESHIPPERS ANNOUNCES THE DISPOSITION OF WEB BASED SHIPPING SOLUTIONS BUSINESS

eShippers Management Ltd. has entered into an agreement to sell its Web-based shipping solutions business to Noble Pacific Financial Corp., a private British Columbia corporation. The corporation has agreed to sell the assets of the business including equipment, material contracts, intangible assets, goodwill and all of the issued common shares of the corporation's two subsidiaries in which the business is conducted. The purchase price is $84,000, which will be paid and satisfied by a set-off of accrued debt in that amount owed by the corporation to Noble Pacific. The agreement is subject to regulatory approval.

The corporation has also appointed Wayne Tisdale to the corporation's board of directors. Mr. Tisdale is a managing director of Providia Investments Ltd., a corporate finance company headquartered in London, United Kingdom.

Subject to regulatory approval, the company is proceeding with a change of its name to Caliente Resources Corp. and a subdivision of its common shares on a two-for-one basis, with each issued and outstanding share on the subdivision date being split into two common shares. The change of name and stock split were approved by the corporation's shareholders by way of special resolutions passed at the corporation's annual and special general meeting held on Feb. 27, 2008, which resolutions gave the board of directors to determine whether and when to proceed with the name change and stock split.

Source: stockwatch.com