EX-99.1
2
v062142_ex99-1.htm
Unassociated Document
Pure
Vanilla Exchange, Inc. Completes Acquisition of Nimble Group,
Inc.
Thursday
January 4, 9:00 am ET
NEW
YORK--(BUSINESS WIRE)--Pure Vanilla eXchange, Inc. ("Pure Vanilla Exchange")
(OTCBB: PVNX)
announced today that its acquisition of Nimble Group, Inc. ("Nimble") became
effective on December 31, 2006. The acquisition was completed by the merger
of
PVNX Acquisition Corp., Pure Vanilla Exchange's wholly-owned subsidiary, with
and into Nimble pursuant to the previously-announced Agreement and Plan of
Merger dated as of December 15, 2006 between Pure Vanilla Exchange, PVNX
Acquisition Corp. and Nimble.
As
a
result of the merger, Nimble became a wholly-owned subsidiary of Pure Vanilla
Exchange. Nimble will operate as a subsidiary of Pure Vanilla Exchange for
the
near future, Nimble provides alternative payment solutions and transactions
for
government agencies and high frequency, multi-unit retailers.
Pursuant
to a software licensing agreement, Nimble previously licensed its technology
to
Pure Vanilla Exchange so that Pure Vanilla Exchange was able to process
transactions using stored value cards and online payment system. As a result
of
the acquisition, Pure Vanilla Exchange now owns this technology and all revenue
is realized.
In
connection with the acquisition, Florian Schuhbauer resigned as President and
Chief Executive Officer of Pure Vanilla Exchange. Mr. Schuhbauer will continue
to serve as a member of Pure Vanilla Exchange's board of directors. Steven
Yevoli, Chief Executive Officer and President of Nimble and Chairman of the
Board of Pure Vanilla Exchange, was elected Chief Executive Officer of Pure
Vanilla Exchange and will remain Chairman of the Board.
Mr.
Yevoli commented, "We are pleased that we were able to complete the transaction
so promptly, and feel that the consolidation of these companies provides a
platform for growth that will benefit our clients and shareholders
tremendously".
For
additional information regarding the merger, the Agreement and Plan of Merger
and the parties to the merger, please see Pure Vanilla Exchange's Current Report
on Form 8-K filed with the Securities and Exchange Commission on January 3,
2007.
About
Pure Vanilla eXchange, Inc.
Pure
Vanilla Exchange is the leading provider of anonymous online payments through
its stored value card and payment solution specifically designed for secure
purchases. Through its patent-pending technology, consumers can purchase content
by either funding an online account or by purchasing a pV card. Pure Vanilla
Exchange addresses the challenges faced by many online merchants who seek
anonymity. With issues such as rising chargebacks, fraud, excessive processing
fees and delayed receipt of funds, Pure Vanilla Exchange resolves many of these
concerns by reducing risk in transactions, charging competitive fees and
providing that funds are received within as little as 96 hours. Pure Vanilla
Exchange owns the network in which it both activates and processes all of its
transactions and provides a solution that is competitive on multiple levels
enhancing the value to merchants who accept pV cards and consumers who use
the
pV cards.
For
more
information, visit http://www.purevanilla.com
This
release includes forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements, other than statements
of historical facts included in this report, including statements regarding
the
consummation of the merger, are forward-looking statements. These
forward-looking statements are necessarily subject to risks and uncertainties
including, but not limited to, the successful integration of Nimble, the
successful execution of Pure Vanilla Exchange's business plan and the effect
of
economic and business conditions. Although Pure Vanilla Exchange believes the
expectations reflected in any forward-looking statements are based on reasonable
assumptions, it cannot give any assurance that such expectations will be
fulfilled. Stockholders and potential investors and other readers are urged
to
consider these factors carefully in evaluating any forward-looking statements.
New factors, risks and uncertainties may emerge from time to time that may
affect the forward-looking statements made herein. The forward-looking
statements are only made as of the date of this release and Pure Vanilla
Exchange does not undertake any obligation to publicly update such
forward-looking statements to reflect subsequent events or circumstances.
Contact:
Pure
Vanilla Exchange, Inc.
IR
Dept.
Felicia
Adams, 212-991-1047 x113
www.purevanilla.com

EX - 99 . 1 2 v062142 _ ex99 - 1 . htm Un associated Document Pure Vanilla Exchange , Inc . Completes Acquisition of Nimble Group , Inc . Thursday January 4 , 9 : 00 am ET NEW YORK -- ( BUSINESS WIRE ) -- Pure Vanilla eXchange , Inc . ( " Pure Vanilla Exchange " ) ( OTCBB : PVNX ) announced today that its acquisition of Nimble Group , Inc . ( " Nimble " ) became effective on December 31 , 2006 . The acquisition was completed by the merger of PVNX Acquisition Corp . , Pure Vanilla Exchange 's wholly - owned subsidiary , with and into Nimble pursuant to the previously - announced Agreement and Plan of Merger dated as of December 15 , 2006 between Pure Vanilla Exchange , PVNX Acquisition Corp . and Nimble . As a result of the merger , Nimble became a wholly - owned subsidiary of Pure Vanilla Exchange . Nimble will operate as a subsidiary of Pure Vanilla Exchange for the near future , Nimble provides alternative payment solutions and transactions for government agencies and high frequency , multi - unit retailers . Pursuant to a software licensing agreement , Nimble previously licensed its technology to Pure Vanilla Exchange so that Pure Vanilla Exchange was able to process transactions using stored value cards and online payment system . As a result of the acquisition , Pure Vanilla Exchange now owns this technology and all revenue is realized . In connection with the acquisition , Florian Schuhbauer resigned as President and Chief Executive Officer of Pure Vanilla Exchange . Mr . Schuhbauer will continue to serve as a member of Pure Vanilla Exchange 's board of directors . Steven Yevoli , Chief Executive Officer and President of Nimble and Chairman of the Board of Pure Vanilla Exchange , was elected Chief Executive Officer of Pure Vanilla Exchange and will remain Chairman of the Board . Mr . Yevoli commented , " We are pleased that we were able to complete the transaction so promptly , and feel that the consolidation of these companies provides a platform for growth that will benefit our clients and shareholders tremendously " . For additional information regarding the merger , the Agreement and Plan of Merger and the parties to the merger , please see Pure Vanilla Exchange 's Current Report on Form 8 - K filed with the Securities and Exchange Commission on January 3 , 2007 . About Pure Vanilla eXchange , Inc . Pure Vanilla Exchange is the leading provider of anonymous online payments through its stored value card and payment solution specifically designed for secure purchases . Through its patent - pending technology , consumers can purchase content by either funding an online account or by purchasing a pV card . Pure Vanilla Exchange addresses the challenges faced by many online merchants who seek anonymity . With issues such as rising chargebacks , fraud , excessive processing fees and delayed receipt of funds , Pure Vanilla Exchange resolves many of these concerns by reducing risk in transactions , charging competitive fees and providing that funds are received within as little as 96 hours . Pure Vanilla Exchange owns the network in which it both activates and processes all of its transactions and provides a solution that is competitive on multiple levels enhancing the value to merchants who accept pV cards and consumers who use the pV cards . For more information , visit http://www.purevanilla.com This release includes forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 . All statements , other than statements of historical facts included in this report , including statements regarding the consummation of the merger , are forward - looking statements . These forward - looking statements are necessarily subject to risks and uncertainties including , but not limited to , the successful integration of Nimble , the successful execution of Pure Vanilla Exchange 's business plan and the effect of economic and business conditions . Although Pure Vanilla Exchange believes the expectations reflected in any forward - looking statements are based on reasonable assumptions , it can not give any assurance that such expectations will be fulfilled . Stockholders and potential investors and other readers are urged to consider these factors carefully in evaluating any forward - looking statements . New factors , risks and uncertainties may emerge from time to time that may affect the forward - looking statements made herein . The forward - looking statements are only made as of the date of this release and Pure Vanilla Exchange does not undertake any obligation to publicly update such forward - looking statements to reflect subsequent events or circumstances . Contact : Pure Vanilla Exchange , Inc . IR Dept . Felicia Adams , 212 - 991 - 1047 x113 www.purevanilla.com