HOUSTON, Aug. 8, 2005 (PRIMEZONE) -- Texxon, Inc. (OTCBB:TXXN) ("Texxon") and V3 Global, Inc., (Pink Sheets:VGBL) ("V3 Global"), are pleased to announce that the Acquisition and Share Exchange Agreement which was signed, May 9, 2005, by and between Texxon, an Oklahoma corporation (the "Company") and V3 Global, a Texas corporation, with Texxon being the surviving corporation and V3 Global existing as a subsidiary will be completed Friday the 12th of August 2005.
The Share Exchange Agreement will be payable to shareholders of record at the close of the market August 12, 2005, whereby V3 Global is exchanging all of its 112,000,000 shares of its Common Stock for 5,926,256 shares of Texxon. For approximately every 18.9 shares of V3 Global one share of Texxon will be exchanged.
Persons who hold their shares in brokerage accounts or "street name" will not be required to take any action to effect the exchange of their certificate unless their broker instructs them otherwise. The Company will assist shareholders with any potential problems that may arise during this process.
The Company requires all persons in possession of V3 Global Incorporated Common Stock Certificates with the CUSIP number 92909J 10 7 to exchange those certificates for new certificates of Texxon Incorporated Common Stock.
Physical Exchange of the old stock certificates must be made exclusively through the Company's transfer agent, Integrity Stock Transfer, 2920 N. Green Valley Parkway, Building 5 - Suite 527, Henderson, NV 89014 Telephone 702-317-7757, Fax: 702-796-5650.
We remind everyone as stated in NASD uniform practice Code# 117-04 after September 11, 2005 V3 Global's old stock certificates will be void and worthless, shall not entitle the certificate holder to any of the rights of a shareholder or the Company, shall be non-transferable and non-tradable in any public or private market or exchange and shall have no value except for the right to be exchanged for the Company's new stock certificates.
No new certificates will be issued until the shareholder has surrendered his old V3 Global certificate to the transfer agent. Until surrendered, each old certificate will represent the right to exchange at an approximate 1 to 18.9 ratio for a new certificate bearing the name Texxon Incorporated, with the stipulations that the old certificates with the old CUSIP numbers, will be void, shall not entitle the certificate holder to any of the rights of the shareholder of the Company, and shall be worthless, non-transferable and non-tradable in any market or exchange beginning September 11, 2005, which is 30 days after August 12, 2005.
Ben Hansel, CEO of Texxon, stated, "First, I must thank the Texxon and V3 Global shareholders for their patience. Soon the integration of Texxon and V3 Global will be reality and an important part of Texxon's future. I look forward to Texxon becoming an even more attractive investment opportunity."
About Texxon Inc.:
Texxon Inc. is an exploration stage Oklahoma Corporation, with its principal offices in Houston.
About V3 Global:
V3-Global is a United States Corporation with principal offices in Dallas where it is incorporated and managed by telecom professionals with over 100 years combined experience. Because of its worldwide presence, V3-Global is able to provide telecommunications solutions that integrate local, long distance and broadband Internet services on a global scale.
V3-Global is active in Residential Services, Business Services and Software Solutions. The primary business areas include:
1. V3-Global transports and terminates wholesale voice traffic from
major carriers with whom it has interconnection agreements,
mainly to India, Mexico and Europe Cell.
2. V3-Global provides the network services for pre-paid calling
card operators.
3. V3-Global provides network design, implementation and management
facilities to other telecom carriers.
4. V3-Global provides billing, Web development and e-commerce
development facilities for other businesses and telecom
carriers.
5. V3-Global has 500+ seats Call Center in India to handle all back
office operations of other corporations, and is looking to add
thousands more.
For further information, www.v3-global.com
Shareholders and other interested investors who would like to receive the Texxon monthly newsletter, as well as an e-mail of Texxon press releases when they are released, please sign up at http://www.idmcorp.us/Members/.
Safe Harbor:
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company's business include but are not limited to fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the Company's SEC reports.