Rich, this has been halted for at least several weeks. Halt is coming off soon but I don't know exactly when. I'll try and find out.
Their latest release
________________________________________________________________________
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Camflo Resources Ltd.
________________________________________________________________________
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300-555 West Georgia Street, Vancouver, BC Canada V6B 1Z5
Toll-free (North America): 800-442-1860 Tel: +1 (604) 687-7294 Fax:
+1 (604) 682-1329
Email: info@camflo.com Web Site: www.camflo.com Trading Symbol: CFK (ASE)
November 2, 1999, VANCOUVER, CANADA
Acquisition of Golfmax.ca
The Official Web Site of the National Golf Course Owners Association
CAMFLO Resources Ltd.
Shares Issued: 9,780,000
Trading Symbol: CFK (Alberta Stock Exchange)
Web Site: www.camflo.com & www.eteeoff.com
1999-11-02 Close $0.40
SEC 20F (File # 0-30026)
Mr Alan Crawford reports:
Camflo Resources Ltd./eteeoff.com is pleased to announce that the Company
has entered into an agreement to acquire Golfmax.ca, the official web site
of the National Golf Course Owners Association Canada (NGCOA), from Dansys
Consultants Inc., Ottawa, Canada.
Golfmax.ca is a state of the art comprehensive golf website built by Dansys
Consultants Inc., using SAS? software. Dansys has grown to become Canada's
premier SAS? consulting company. The SAS Institute of Cary, North Carolina
is an award-winning, industry leader in information delivery systems. SAS?
provides comprehensive e-intelligence solutions to today's e-business
market. Companies utilizing web-enabled SAS? Systems include the U.S.
Department of Defence, the U.S. Air Force and Bell Atlantic. Dansys has
invested over $1 million on Golfmax.ca development to date.
Dansys Consultants Inc. will continue to maintain and develop the
Golfmax.ca site. Dansys has developed a very strong core of expertise in
the area of web enabled information systems. Dennis Conly, Managing
Director for over ten years and involved in information systems development
for almost twenty years, heads the company.
Golfmax.ca, established on the Internet since 1996, has tailored some of
the technology used in the website to other consulting projects undertaken
by Dansys, including Newbridge Networks, Statistics Canada and the State of
New Hampshire. Golfmax.ca is well positioned to capitalize on the future
growth of e-commerce within the golf industry.
Golfmax.ca was the pioneer Canadian web site to offer an interactive
tee-time booking system. Golfmax.ca's Control Center has been built for the
specific use of individual golf courses. Available tee times can be
interactively posted or removed and green fees can be set and adjusted. The
system works in real time so that immediately upon posting tee times,
golfers (Clubhouse Gold Members) can book. The primary components of
Golfmax.ca include a comprehensive Golf Course Database, Scorecard
Database, Golfer Database, a Search Engine, and an Administrative System.
The NGCOA represents more than 620 member courses, growing by 23% in the
last year alone. The NGCOA has developed business partnerships with nearly
40 major suppliers to the golf industry. The anticipated conversion of
group purchasing to e-commerce models places eteeoff.com/Golfmax.ca in a
strong strategic position. Supplier agreements are in place with Spalding,
Newcourt Financial, Petro-Canada, AT&T., Clearnet Communications, Toronto
Dominion Bank and the Bank of Montreal amongst others.
The consideration payable by the Company for the acquisition of Golfmax.ca
is CDN$250,000 together with the issuance of 4,000,000 shares of the
Company, with a deemed value of CDN$0.40 and the issuance of an aggregate
of 2,200,000 warrants at CDN$0.40, exercisable within 2 years. The
consummation of the acquisition and the closing of the transaction are
conditional upon the completion of due diligence by eteeoff.com/Camflo
Resources Ltd and the receipt of regulatory and shareholder approval. Upon
receipt of shareholder and regulatory approval, the current management of
eteeeof.com/Camflo will be supplemented with management from within
Golfmax.ca and key individuals from within the golf industry.
Currently there is no central source of e-commerce on the Internet where
golf course facilities and consumers can purchase golf products and
services. eteeoff.com/ Golfmax.ca fills that need, providing golf course
owners, managers and superintendents an interactive trade show, which will
allow them to purchase from manufacturers, distributors, consultants,
architects and contractors. Rather than buying once a year, golf course
owners can view and buy when the need arises. Plans for future development
include auctions, and business conferencing. The trade show will be an
all-encompassing business facilitator.
Golfmax.ca technology has purposefully been developed to be transferable to
other countries and languages. New features of Golfmax.ca soon to be
released include, Ticket2Golf, an on-line system for purchasing advanced
green fees, a "members lounge" application, which allows private courses to
add Golfmax.ca technology to their existing website, as well as a system
for organizing tournaments on-line. In addition, the emphasis on services
to consumers, (score entry, game reports, ranking, and contests) enables
the regular traffic flows essential to continued commercial success.
Golfmax.ca has grown from 10,000 golfer members since the beginning of 1999
to more than 17,000 members currently.
The Company will primarily earn revenues from Golfer Memberships, Consumer
Show Exhibitor and Admission Fees, Consumer Transactions, Industry
Admissions, Industry Show Exhibitor Fees, Industry Transactions,
Advertising and on-line Tee-Time Reservations.
The acquisition of Golfmax.ca will significantly enhance
eteeoff.com/Camlfo's objective of becoming the premier focus of commercial
activity relating to golf on the Internet. eteeoff.com/Golfmax.ca intends
to become the foremost e-commerce marketplace, establishing an
entertaining, informative and interactive Internet facility which will
respond to the needs of the consumer and those within the industry
worldwide. While the Company provides supporting documentation to the
Exchange pursuant to Section 4 of Circular 8, the shares will be halted.
CAMFLO RESOURCES LTD.
Alan Crawford
President
Camflo Resources Ltd. trades on the Alberta Stock Exchange under the symbol
CFK. For further details please telephone 1-604-687-7294. The Alberta
Stock Exchange neither approves or disapproves of the information contained
herein. Safe Harbor Statement under the United States Private Securities
Litigation Act of 1995:Statements in this release that are forward-looking
statements are subject to various risks and uncertainties concerning the
specific factors identified above and in the corporation's periodic filings
with the Alberta Securities Commission and the U.S. Securities Exchange
Commission. Such information contained herein represents management's best
judgment as of the date hereof based on information currently available.
The corporation does not intend to update this information and disclaims
any legal liability to the contrary. |
