ANCHORAGE, Alaska--(BUSINESS WIRE)--March 29, 2005--Organic Soils.com, Inc. (OTCBB: OSLC) announced today that it has signed a definitive agreement to acquire all of the issued and outstanding common stock of Inhibetex Therapeutics, Inc. (“Inhibetex”) in a tax-free exchange. Closing is contingent upon the completion of final documentation necessary to close the transaction, which is anticipated to occur by the latter half of April. Under the terms of the definitive agreement, Organic Soils.com will issue 11,128,000 shares of common stock to the stockholders of Inhibetex in exchange for 100% of the issued and outstanding shares of Inhibetex. As a result, following closing of the transaction, a total of 13,451,000 shares of Organic Soils.com would be issued and outstanding. In addition, immediately prior to closing, Organic Soils will divest, wind-down or otherwise dispose of its current business operations.
