CityXpress to Sell Canadian Operating Subsidiary
VANCOUVER, British Columbia - December 23, 2009 - CityXpress Corp., CityXpress Corp. (Pink Sheets: CYXP) (the "Company") advises that the Company's independent directors have agreed to sell its Canadian operating subsidiary, CityXpress Ltd. to Phil Dubois and Ken Bradley, the Company's senior executives. The sale must be consented to in writing by a majority of the minority shareholders prior to closing. In accordance with provisions of the Florida Corporations Act (Chapter 607), written notice of the transaction and dissenting shareholder's rights will be given to all registered and beneficial shareholders in early January 2010.
About CityXpress Corp.
CityXpress (www.cityxpress.info) is a leading developer of advertising programs that connect local merchants with a network of worldwide media companies, allowing businesses to fund their marketing programs and amplify their purchasing power by auctioning off the products or services they carry. Founded in 1999, CityXpress has operations in North and South America, Europe and Australasia. CityXpress provides its customers with its hosted software, sales training programs, and customer support services. Headquartered in Vancouver, British Columbia, CityXpress maintains an international office in London.
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This press release and/or communication contains forward-looking statements regarding the Company's business strategy and future plans of operations. Forward-looking statements involve known and unknown risks and uncertainties. These and other important factors, including those mentioned in various press releases and/or communications of the Company, may cause actual results and performance to differ materially from the future results expressed in or implied by such forward-looking statements. The forward-looking statements contained in this press release and/or communication speak only as of the date hereof and the Company disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in the Company's expectations or future events.