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DubLi Reverse Merger Completed
Filed under DubLiOct 23MARGATE, FL and BERLIN–(Marketwire – October 19, 2009) – MediaNet Group Technologies, Inc. (OTCBB: MEDG), operating the largest online mall and affinity program platform through its BSP Rewards subsidiary, announced that effective today it has completed its reverse merger with CG Holdings Limited, a privately-held, European-based holding company for the DubLi companies, a worldwide online trading firm (”DubLi”).
Michael Hansen, President of the newly combined company, said, “We are delighted to be a part of this unique business combination. The uniting of the DubLi and BSP platforms combines two shopping alternatives, both of which are recognized leaders in their respective areas, and offers a one of a kind shopping program unparalleled in the industry. Our technology combined with MediaNet Group’s long term relationship with top brand vendors will make it possible to set new standards within the industry. We believe that the business combination offers the doorway to a totally unique method of international shopping and sets the stage for world wide expansion.”
Martin Berns, Chief Executive Officer of BSP Rewards, Inc., stated, “During the past months we have had the opportunity to become intimately involved with DubLi’s vision and progress. Their goal of expanding as a world leader in the international shopping and auction market is extremely exciting. It offers a major opportunity for the company and our shareholders. The DubLi auction and shopping platform is exceedingly sophisticated and when combined with our BSP program acts as a loyalty, incentive, continuity and communication tool, with the added capability of being able to load cash, bonus payments, payroll and rewards instantaneously onto virtually any debit or credit card — domestic or international. The combination of platforms offers a myriad of features and benefits for which we should have little competition. It truly is a 1+1 equals 3 scenario.”
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7 Responses to “DubLi Reverse Merger Completed”
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