Tuesday July 6, 9:21 am Eastern Time
Company Press Release
Omicron Acquires Cyberweb Systems
VANCOUVER, British Columbia--(BUSINESS WIRE)--July 6, 1999-- Omicron Technologies, Inc. (OTC BB:OGPS - news) is pleased to announce the acquisition of Cyberweb Systems Inc., a private software development company in Vancouver, British Columbia.
Cyberweb's management has over ten years of experience in the software development and computer systems business. Omicron will issue 175,000 restricted common shares in exchange for a 100% ownership interest in Cyberweb.
Cyberweb Systems specializes in Internet gaming software development. Its programming and systems expertise complement the development and operations of Omicron's Asian Internet Casino and Sports Betting website ''Lucky Eight Casino''. This website is licensed through Global Interactive Ltd. and Starnet Communications International Inc. Omicron expects Lucky Eight Casino to be fully functional in July and will be the first of many websites developed to target various market niches worldwide.
In addition to its focus on Internet gaming software development, Cyberweb hosts and designs websites. The company is currently hosting fifteen websites and has the hardware capabilities to host thousands of websites. A new site under construction by the company will provide integrated financial information to investors completely free of charge. This site will include free real-time US & Canadian quotes, Java charting, COMTEX news and a free portfolio tracking system that will send a page or email when a stock price reaches a high or low parameter set by an investor. Additionally, Cyberweb recently designed and developed an online contact directory for Asian businesses and individuals. Also, there are several other exciting Internet-based projects that the company expects to launch later this year.
One industry estimate shows a potential 25 Million Internet gamblers worldwide. Datamonitor projects worldwide Internet gambling revenues to grow to $10.2 billion by 2002, double the money wagered in Las Vegas last year. With the addition of Cyberweb, Omicron is strategically positioned to expand its worldwide gaming and Internet-based business through software and website development.
Omicron expects to become established as a preferred supplier of online gaming systems and a leader in the Internet gaming industry. Competitors in this industry include: Casinolive.com (OTC BB:YBET - news), Cryptologic (TSE:CRY.TO - news), GLC Limited (Nasdaq:GLXW - news), Starnet Communications International Inc., GIC Global Entertainment Corp. (OTC BB:GGNC - news) and YouBet.com (Nasdaq:UBET - news).
Omicron Technologies, Inc. is in the business of acquisition, research and development, and marketing of leading edge technologies and Internet-based business concepts. Through the combined strategy of identifying marketing niches and aggressive development of its business interests, Omicron anticipates success in attaining significant penetration in targeted markets. The company has recently moved to its permanent head office address at 114 W. Magnolia Street, Suite 400-128, Bellingham WA 98225.
NOTE: Safe Harbor for Forward-Looking Statements
Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of prices, product demand, market compensation, risk inherent in the company's international operations, imprecision of reserve estimates and the company's ability to replace and expand reserves.
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Contact:
Omicron Technologies, Inc.
Barrett Sleeman, 877/903-2288
Website: www.omicrontechnologies.com
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