DENVER, CO, Oct. 19, 2009 (Marketwire) --
DENVER, CO -- (Marketwire) -- 10/19/09 -- Worldwide Strategies, Inc. (OTCBB: WWSG) last week released updates regarding the company's planned transaction with NewMarket Technology, Inc. (PINKSHEETS: NWMT). Senior management from the companies are scheduled to meet in Dallas, Texas, this week to finalize the agreement. NewMarket has announced an agreement to merge its operations headquartered in Brazil with Worldwide. NewMarket's operation in Brazil has approximately $20 million in annual revenue with anticipated growth to $50 million in annual revenue in 2010. The planned transaction with Worldwide would result in an independent listing of NewMarket's Brazilian operation, while the financial results of the operation in Brazil would continue to be consolidated into the NewMarket financial statement. NewMarket's systems integration operation in Brazil is an Oracle partner with fourteen years' experience in the region and a portfolio of over 300 customers, including Wal-Mart Brazil, DHL, Embraer, Avon, L-Oreal, Hitachi, and Brasil Telecom.
Joint Webcast Hosted by Former Dallas Federal Reserve Chairman and Retired Major General Hugh G. Robinson
This Thursday, October 22, Worldwide and NewMarket are scheduled to release an on-demand Webcast to discuss the transaction. Former Dallas Federal Reserve Chairman and Retired Major General Hugh G. Robinson, a board member of NewMarket, is slated to host the presentation. A link to the Webcast will be posted on the NewMarket Technology corporate website www.newmarkettechnology.com upon release.
Worldwide CEO Letter to Shareholders
Last week, Worldwide CEO James Samuels released a letter to shareholders. The letter is addressed to the shareholders of NewMarket and NewMarket Latin America, Inc. as well as the shareholders of Worldwide. Mr. Samuels discusses the plan for the three companies to achieve a national exchange listing and improved share price with a potential to achieve a 400% to 500% increase in the resulting market capitalization.
Mr. Samuels' letter discussing the strategy is available here: http://www.marketwire.com/press-release/Worldwide-Strategies-1060124.html.
About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket is a reporting company with audited financial reports filed with the SEC. NewMarket provides systems integration, technology infrastructure services and emerging technology worldwide. NewMarket has a focus on providing technology and support services to rapidly growing economies where technology purchasing is on the rise. In addition to its base of operations in North America, NewMarket has operations today in the growing economies of China, Southeast Asia, Brazil and Northern Latin America.
