ST. PETERSBURG, Fla., Oct. 6, 2005 (PRIMEZONE) -- COR Equity Holdings Inc. (Pink Sheets:CEQD) announced today the completion of a merger with 727 Communications Inc., a VOIP wholesale minute provider. 727 Communications Inc. is a recent successful spin off from Atlantis Business Development Corp. (OTCBB:ABDE).
As a result of this merger each shareholder of 727 Communications Inc. will receive one share of COR Equity Holdings for each share held.
About 727 Communications:
727 Communications (http://www.727communications.com) was formed by Atlantis in March 2005. 727 is a VOIP provider focusing on wholesale long distance within the continental U.S. A carrier contract has been signed between 727 and XO Communications for the purchase of bulk minutes at a very favorable rate. During the 1st quarter of operations, 727 has become one of XOs' largest customers.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this news release include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products and prices. With respect to COR Equity Holdings Inc. (CEQD), except for the historical information contained herein, the matters discussed in this news release are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, CEQD's extremely limited operating history, uncertainties related to the Company's access to additional capital, competition and dependence on key management.