Essex Resource, Vancouver, has reached an agreement to acquire Universal Internet Marketing Ltd. (UIM).
The agreement calls for Essex to acquire 100% of the shares of UIM through its wholly owned Barbados subsidiary for $200,000 (U.S.) and 12 million common shares, based on performance criteria.
As part of the acquisition of UIM, Edward Panos and Monty Sikka will join the Board of Essex. Panos, formerly with Microsoft, and Sikka have expertise in e-commerce and have held financial management positions.
