HOUSTON, May 25, 2005 (PRIMEZONE) -- Texxon (OTCBB:TXXN) and V3-Global (Pink Sheets:VGBL) are pleased to announce that particulars of the share exchange will be sent to all V3-Global shareholders in an information packet.
The packet details the steps necessary to ensure V3-Global shareholders receive their shares in Texxon. A June 10, 2005 record date has been set, whereby all V3-Global shareholders on that date will receive shares of Texxon in the share exchange, 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. The share exchange shall take place on June 24, 2005. V3-Global shareholders and/or their brokers will receive specific information on the mechanics of the physical exchange in the information packets.
About Texxon Inc.:
Texxon Inc. is an exploration stage Oklahoma Corporation, with its principal offices in Phoenix.
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
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.