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Monday November 8, 7:37 am Eastern Time
Company Press Release
JVWeb, Inc. and LinksXpress.com, Inc. Form Strategic Relationship
HOUSTON--(BUSINESS WIRE)--Nov. 8, 1999--JVWeb, Inc. (OTCBB:JVWB - news) announced today that it has entered into a stock exchange and services agreement with LinksXpress.com, Inc. Under their agreement, JVWeb will receive 500,000 shares of LinksXpress.com's common stock, warrants to purchase up to 1,000,000 shares of LinksXpress.com's common stock at a purchase price of $2.00 per share, and options to purchase up to 500,000 shares of LinksXpress.com's common stock at purchase prices ranging from $.25 to $2.00 per share. In exchange for these securities, LinksXpress.com will receive 150,000 shares of JVWeb's common stock and an option to purchase up to 150,000 additional shares of JVWeb's common stock at a purchase price of $.40 per share. In addition to the securities exchange, LinksXpress.com has entered into a Web hosting agreement with JVWeb and a right of first refusal agreement in favor of JVWeb regarding LinksXpress.com's future Web development work.
The LinksXpress.com focus is to provide a value added service in the area of personalized and simplified online sales. This is accomplished through the company's user friendly e-commerce portal. The opportunity is considerable as the worldwide web continues to experience explosive growth with consumer demand requiring more efficient and new innovations for shoppers online. The company earns a commission on all sales transactions executed by the consumer as they patronize the retailers listed on the LinksXpress.com fifteen super frames. Additional revenues for the company are realized from banner advertising and strategic marketing contracts.
Ian Scott-Moncrieff, President of LinksXpress.com stated, ''The e-commerce portal segment is really gaining momentum, we are extremely excited to be a pioneer with the launch of the company's unique LinksXpress IMEC search engine and expect significant growth as the Internet market continues to expand.''
Greg Micek, President and CEO of JVWEB stated, ''We are impressed with both the management team and the business plan for LinksXpress. We look forward to broadening our relationship.''
JVWEB was formed to pursue electronic commerce opportunities over the Internet. The Company's objective is to build a strategic Internet services capability for two primary uses: 1) to offer products, services and advertising through joint ventures with established businesses, and 2) to offer its services on a fee basis for clients in need. JVWEB provides the technical, web marketing and Internet business expertise while the established businesses provide the products and services offered and the related business acumen. For more information concerning JVWEB, please visit the Company's website at www.jvweb.com.
Safe Harbor Act Notice: Certain matters discussed in this news release are forward-looking statements as it is defined in the Private Securities Litigation Reform Act of 1995. Such forward looking statements are subject to a number of known and unknown risks and uncertainties, including, but not limited to, business-to-business opportunities on the Internet, the timeliness of Internet development activities, as well as availability of human and financial resources which may cause actual results to differ materially from those expressed in any forward-looking statements made by or on behalf of JVWEB.
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Contact:
DeMonte Associates, New York
Cynthia DeMonte 212/473-3700
cdemonte@demonte.com
Fax: 212/707-8668
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More Quotes and News: JVWEB Inc (OTC BB:JVWB.OB - news)
Related News Categories: computer hardware, computers, internet, networking, publishing, software, telecom
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