Published: February 28, 2005
IP Matrix Corporation Announces Signing of Share Exchange Agreement With Airprotek Gear, Inc.
IP Matrix Corporation , a Nevada
corporation, announces that on February 25, 2005, it signed a Share
Exchange Agreement with Airprotek Gear, Inc., a Nevada corporation.
The terms of the share exchange transaction are as follows: IP Matrix
Corporation will exchange 16,763,292 shares of its common stock with the
shareholders of Airprotek Gear, Inc. for 100% of the issued and outstanding
common stock of Airprotek Gear, Inc.
Within 10 days of the signature of the Share Exchange Agreement, the
transaction will close and the shareholders of Airprotek Gear, Inc. will
own approximately eighty-seven and one-half percent (87-1/2%) of the issued
and outstanding common stock of IP Matrix Corporation with the existing
shareholders of IP Matrix Corporation owning twelve and one-half percent
(12-1/2%).
Airprotek Gear, Inc. holds an exclusive North American license from Mugen
Denko Co., Ltd. to distribute a unique line of safety jackets and vests
that utilize proprietary air bag technology to protect motorcyclists in the
event of a collision with another vehicle or a fall. The products that
Airprotek will distribute in North America are currently manufactured in
Japan and in use by police departments in Brazil, Italy, Spain and Japan.
Examples of these products may be viewed at:
http://www.hit-air.com/english/main.html
Forward-looking statements made in this release are made pursuant to the
"safe harbor" provisions of the Private Securities Reform Act of 1995.
Forward-looking statements made by IP Matrix Corporation are not a
guarantee of future performance.
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