PRESS RELEASE
FOR IMMEDIATE RELEASE OTC-BB: IVIP
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Internet VIP Signs Agreement to Acquire Yapalot Communications Inc.
The two "Voice over Internet Protocol" carriers
combine their forces
Montreal, Canada, June 1, 2001 - Internet VIP Inc. (OTC-BB: IVIP) announced
today that it has signed a merger agreement to acquire 100% of the issued and
outstanding shares of Yapalot Communications Holdings Inc., a Toronto-based
company that provides VoIP (Voice over Internet Protocol) communication
services.
Under the terms of the acquisition, IVIP will satisfy the purchase price through
the issuance of common shares to Yapalot shareholders. Subsequent to the
transaction, shareholders <
