In relation to the June 19, 2012 disclosure of IP Converge Data Center, Inc. (the "Corporation") relating to the Stock Purchase Agreement entered into by the Corporation's majority shareholders, IP Ventures, Inc. sold today a total of 136,400,000 shares at P0.9524 per share, to Januarius Resources Realty Corp. (26,460,000 shares), (Holding Inc (92,300,000 shares), and Kwantlen Development Corporation (17,640,000 shares) (collectively referred to as the "8990 Group").
In addition, the Corporation received today the resignation of Jaime C. Gonzalez, Marco Antonio Y. Santos, and Reynaldo R. Huergas as members of the Board of Directors of IP Converge Data Center Inc. Mr. Huergas likewise resigned as President of the Corporation. The resignation of Directors is meant to pave the way for the new majority shareholders of the Corporation to appoint their nominees to the Board of Directors.
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