TORONTO, June 29 /PRNewswire/ -- Euoko Inc. (BULLETIN BOARD: EUKO) entered into a binding letter agreement on April 5, 2007 to acquire all issued and outstanding shares of Euoko Inc. (Canada), a private company founded in 2003 and engaged in the business of development, marketing and global distribution of scientifically-advanced luxury skin treatments. The market has recently begun responding positively to this impending merger, as reflected in the all-time high value of the stock price of Euoko Inc. (USA) (OTCBB: EUKO) at US$2.20.
"We are very excited about this acquisition, as we believe that Euoko Inc. (Canada) has tremendous potential in the lucrative luxury cosmetics market," said Dwight Webb, President of Euoko Inc. (USA). "We expect that the impending transaction will close before the end of August 2007 and are very much looking forward to this closure."
Brandon Truaxe, President and CEO of the private entity, Euoko Inc. (Canada), said "Euoko Canada is well-positioned to become a leader in the rapidly-growing segment of the cosmetics market that is targeted by a unique niche of premium class brands. Euoko USA's decision to acquire Euoko Canada will allow Euoko USA to enjoy the significant potential growth that this niche welcomes."
The text of the binding letter agreement for Euoko Inc. (USA) to acquire all issued and outstanding shares of the private entity, Euoko Inc. (Canada) from its private shareholders can be accessed by visiting the website address, http://sec.edgar-online.com/2007/04/25/0001085037-07-000921/Section11.asp.
Clarification Note: As Euoko Inc. (USA) will cease all of its current operations before the completion of the aforementioned impending acquisition of Euoko Inc. (Canada), it must be noted that certain past and future press releases issued by Euoko Inc. (USA) have reflected and will reflect the activities of Euoko Inc. (Canada) and the opinions of the management of Euoko Inc. (Canada).
About Euoko Inc. (USA) (OTCBB: EUKO):
Euoko Inc. (USA) was in the business of manufacturing custom pieces of jewellery on a piece-by-piece basis for its customers. On April 5, 2007, the company entered into a binding agreement to purchase all of the issued and outstanding shares of Euoko Inc. (Canada), a private company whose primary business is the development, marketing and distribution of luxury skin treatments. The company adopted its present name on May 24, 2007 to reflect that the activity of Euoko Inc. (Canada) will represent the sole activity Euoko Inc. (USA) upon closure of the impending acquisition. The Company has discontinued its jewellery operation since entering into the aforementioned merger agreement to acquire Euoko Inc. (Canada). For further information about Euoko Inc. (USA), please contact Dwight Webb at 604-642-6410.
About Euoko Inc. (Canada) (http://www.euoko.com)/
Euoko Inc. (Canada) is an emerging luxury brand that develops, markets and distributes scientifically-advanced skin treatments. Its current portfolio spans five treatment collections that target aging, dull skin tones, skin protection, uneven pigmentation and blemishes. This product line offers comprehensive solutions to such skin concerns as wrinkles, fine lines, under- eye dark circles, dark spots, cellulite, acne, oxidation, environmental exposure and skin fatigue. Combined with innovative products for basic daily cleansing and facial priming, this product portfolio offers a complete line of synergistic formulations that target the most demanding luxury consumer. The company's well-appointed, understated primary and secondary packaging communicates innovation, science and sophistication, while reflecting the prestige positioning of the portfolio. The company sells its product line through varied distribution channels in select North American, European and Middle Eastern markets, as well as globally through its internally-operated, multicurrency, multilingual website (http://www.euoko.com/). For further information about Euoko Inc. (Canada), please contact Carmela Tassone at 858-366-4250 x 103.
