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Press Releases
Worldbid Negotiates Acquisition FOR IMMEDIATE RELEASE BLAINE, WA -- (MARKET WIRE) -- 28/04/2006 -- WORLDBID CORPORATION (the "Company") (OTC BB: WBID) announced today that it has entered into negotiations for the acquisition of Royalite Petroleum Corp. ("Royalite"), a Nevada company engaged in the exploration and development of oil and gas properties. Royalite holds the exclusive right to use all information relating to minerals and hydrocarbons in the State of Utah derived from a proprietary sensing technology known as the "Moore Radiometer" (the "Technology"). Royalite has leased 10,127 acres for oil and gas exploration in the Sanpete and Piute Counties, Utah and intends to acquire additional properties in Sevier Valley, Utah based on information derived from use of the Technology. Royalite has represented that it has cash of approximately $400,000.00 and no significant liabilities. Under the terms of the proposed acquisition, it is expected that the Company would issue approximately 25,000,000 of its common shares in exchange for 100% of the shares of Royalite. It is also expected that the Company will spin-off its existing subsidiary Worldbid Canada Corporation to its existing shareholders prior to issuance of shares to the shareholders of Royalite. Details of any agreement reached will be reported once negotiations have concluded. This Press Release may contain, in addition, to historical information, forward-looking statements. These statements may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein, including, but not limited to, risks and uncertainties related to the Company's due diligence investigations and with the negotiation of a definitive agreement with Royalite. There is no assurance that the Company will be able to reach an agreement to acquire Royalite. Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release. For more information please Contact: Logan B. Anderson President Telephone: (360) 332-1752
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