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Exhibit 99.1
ZIPLINK LOGO
ZIPLINK CONTACT: ZIPLINK CONTACT:
William D. deKay Albert A.Gabrielli
ZipLink, Inc. ZipLink, Inc
Chief Executive Officer Chief Financial Officer
Telephone: 978/551-8907 Telephone: 978/551-8916
E-mail:[email protected] E-mail: [email protected]
ZIPLINK TO BE DELISTED FROM NASDAQ NATIONAL MARKET
AND TO CEASE ALL TRADING ACTIVITY
LOWELL, MASS. - DECEMBER 1, 2000 - ZipLink, Inc. (NASDAQ: ZIPL), a wholesale
Internet connectivity provider, received a Nasdaq Staff Determination letter
indicating that, pursuant to Nasdaq Marketplace Rules 4300 and 4330(a)(3), the
continued listing of ZipLink's securities on the Nasdaq National Market is no
longer warranted because of concerns regarding the residual equity interest of
the existing stockholders and the company's ability to sustain compliance with
all requirements for continued listing on the National Stock Market.
Accordingly, Nasdaq has determined to delist the company's securities from the
Nasdaq National Market at the opening of business on December 4, 2000. Nasdaq
halted trading of the company's common stock on November 17, 2000 after the
company issued a press release announcing the suspension of operations and that
any proceeds from a sale of assets would be used to pay creditors leaving no
proceeds available for shareholders.
The Company does not intend to seek the listing or inclusion of its common stock
on any other stock exchange or quotation system. The company plans to file today
application to terminate the registration of its common stock with the
Securities and Exchange Commission and allowing it to cease filing reports with
the Commission.
For additional information about ZipLink, please visit the company's Web site at
http://www.ziplink.net.
STATEMENTS IN THIS PRESS RELEASE CONCERNING THE COMPANY'S BUSINESS OUTLOOK OR
FUTURE ECONOMIC PERFORMANCE, TOGETHER WITH OTHER STATEMENTS THAT ARE NOT
HISTORICAL FACTS, ARE FORWARD-LOOKING STATEMENTS AS THAT TERMS IS DEFINED UNDER
THE FEDERAL SECURITIES LAWS. ANY FORWARD-LOOKING STATEMENTS ARE ESTIMATES,
REFLECTING THE BEST JUDGEMENT OF THE PARTY MAKING SUCH STATEMENTS BASED UPON
CURRENTLY AVAILABLE INFORMATION AND INVOLVE A NUMBER OF RISKS AND UNCERTAINTIES
AND OTHER FACTORS, WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM
THOSE, STATED IN SUCH STATEMENTS. RISKS, UNCERTAINTIES AND FACTORS WHICH COULD
AFFECT THE ACCURACY OF SUCH FORWARD-LOOKING STATEMENTS ARE IDENTIFIED IN THE
PUBLIC FILINGS MADE BY THE COMPANY WITH THE SECURITIES AND EXCHANGE COMMISSION,
AND FORWARD-LOOKING STATEMENTS CONTAINED IN THIS PRESS RELEASE OR IN OTHER
PUBLIC STATEMENTS OF THE COMPANY SHOULD BE CONSIDERED IN LIGHT OF THOSE
FACTORS.
