Netoy.com / SafePay Solutions

Netoy.com is proud today to announce that it has signed a letter of intent to acquire SafePay Solutions Inc., an online payment processor which handles payment processing and funds transfers, for convertible preferred stock of Netoy.com.

The proposed transaction is expected to be closed no later than January 27th, 2006 and is subject to confirmation of certain conditions, covenants, representations and warranties made by the parties, which are expected to be completed within 90 days of the Closing.

(c) PRNewswire-FirstCall


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