TORONTO, ONTARIO - Microlab Online Inc. announced Feb. 15, 2001, that it has acquired all the issued and outstanding common shares and warrants of 1358378 Ontario Limited (to be named Oakridge Landcare), a private Ontario corporation, for total consideration of $610,000 to be satisfied by the issuance of 11,000,000 common shares in the capital stock of MicroLab among other requirements.
1358378 Ontario Limited, headquartered in Richmond Hill, Ontario, is an integrated land care product and service company whose principal operations are in the Greater Toronto Area. The company services both the commercial and residential landscaping and horticultural markets. 1358378 Ontario Limited had annual sales in excess of $1,200,000 in its past fiscal year and has a business plan for both internal growth and consolidation of its industry segment.
Microlab, previously engaged in the business of providing Internet services, web site ownership and management, and computer/network solutions, is now focused on becoming an incubator of small start-up and growth companies.
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