Cognigen Networks Signs a Letter of Intent to Acquire Commission River

CNN Money:

"The acquisition is subject to standard closing conditions, including the completion of due diligence activities, drafting and execution of a definitive purchase agreement, and Board of Director approval. Upon completion of the acquisition, Cognigen intends to enter into employment agreements with Commission Rivers' founders, Adam Edwards and Patrick Oborn.

Cognigen's new CEO, Bob Bench, stated, 'We are excited to expand our business with the addition of Commission River. Commission River and its management team bring the capabilities and experience in the affiliate marketing area that enhance Cognigen's existing abilities. We anticipate that this acquisition, if completed, will also add new technologies to Cognigen that will make it easier for agents and vendors to do business with us. This is the first of several initiatives to re-establish our capabilities to support our agents and re-build confidence. We believe Cognigen will greatly benefit from the wealth of Internet marketing and affiliate management experience of the Commission River management team. We also believe that Commission River will provide interim operational services while we work towards completing the acquisition. If the acquisition is completed, we anticipate that our agents will benefit from the added support resources and future product offerings.'"