Here is a new deal which Rocca has just acquired. As we all know, privacy on the internet is becoming a serious growing concern for millions of users and this area can expect rapid growth. Siegesoft is one of the first companies to offer viable solutions to this problem with several services which are available on their website siegesoft.com.
There is already a tremendous buzz on this company and I think it looks very, very promising. The company is already profitable (a rare thing for any internet operation) and the stock is tightly held with a low float (4.7 mil OS).
ROCCA RESOURCES LTD ("RRL-V;RRLDF-L") - Amends Terms of Acquisition of www.siegesoft.com - and Private Placement
Further to the Company's news release of September 20, 1999, David Hodge, President of Rocca Resources Ltd., wishes to announce that the Company has amended certain terms of the acquisition of www.siegesoft.com and the private placement.
The Company has reached an agreement to acquire the business known as www.siegesoft.com, an internet privacy web site ("Siegesoft"). Siegesoft is located in Chicago, Illinois and was founded by Rishi Bhat and Antonio Guillen, both of whom are arm's length parties. The consideration for the acquisition will be the payment of US$40,000 rather than US$20,000. The additional US$20,000 replaces the previously announced issuance of 100,000 common shares.
The use of proceeds of the private placement of 1,375,000 units at a price of $0.22 per unit for proceeds to the Company of $302,500 has also been amended. The flow-through portion of the private placement has been increased from $100,000 to $200,000. $60,000 (US$40,000) will be used for the acquisition of Siegesoft. $42,500 will be used for general working capital. A finder's fee in accordance with the policies of the Vancouver Stock Exchange will be payable on the private placement.
ROCCA Rocca Resources Ltd
TEL: (604) 681-1568 David Hodge,
President TEL: 1-877-37
FAX: (604) 681-8240 |
