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Gold/Mining/Energy : Valu-Net Corp (VNE on ASE - was Faymar)

VNE 36.95

0.0%

Apr 1 5:00 PM EST

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To: Bernard Poulin who wrote (520)	2/1/1999 5:25:00 PM
From: David in Ontario	Read Replies (2) of 974

Not a bad day...considering Started with a bang - with VNE then unable to hold onto early gains while eating through huge volume this morning. The Gretzky et al. suit that appeared in Saturday's 'The Edmonton Journal' solicited a response today from VNE (below). According to that article the claim is for ~$1M - so small change. Nice to see a counter claim - should disappear from the spotlight after this week - sure to be some questions on Wednesday. I suspect that with the news of this suit known publicly on Saturday (and referred to on this thread the same day) that the larger players were already aware of its existence - so any negative sentiment is most likely already in the stock. Drop at the very end of the day attributable to small lots - no biggie - could easily have finished higher. Nice to finish with another gain on the day - should move back above $3 tomorrow. * There will always be episodes of profit-taking as VNE moves forward - as for every other stock * David. +++++ VALU-NET CORP - To Defend Lawsuit From Nagano Olympic Project [204] Canadian Market News from Market News Publishing, Monday, February 01, 1999 at 13:09 David Lucatch, President and CEO reports that legal counsel for Valu-net Corporation (the "Corporation") confirmed that the Corporation will vigorously defend and counterclaim the action brought by National Hockey League Players Association ("NHLPA") and Wayne Gretzky. The action against the Corporation and its subsidiary, Valu-net Telecommunications Inc. ("VTI") alleges that VTI and the Corporation failed to pay royalties and license fees for phone cards with the players' images on them. Valu-net contends that the players failed to perform terms set out within the contracts, including but not limited to, the failure of members of Canada's Olympic Men's Hockey Team to provide signatures for Team Canada Olympic Hockey Collector Phone Cards. Valu-net Corporation, is a publicly traded corporation. The Corporation's subsidiary, and primary operating company Valu-net International Ltd. is a leading marketing and technology company providing a complete range of services designed to meet the growing demand for Internet marketing and electronic commerce. Valu-net's Enhanced Service Program provides businesses with integrated internet marketing programs. Electronic Commerce and transactions technologies in order to advance their business and marketing goals. At the same time, ESP's Web-This-Week - the largest gateway to the internet in Canada - enables consumers to interact with such businesses. TEL: (905) 474-5100 David Lucatch, President and CEO FAX: (905) 474-9843 Toll Free: 800-558-9069 E-MAIL: dlucatch@valuenetwork.com TEL: (905) 889-1711 Gary Perkins, Investor Relations FAX: (905) 889-2511 Toll Free: 800-225-2744 E-MAIL: investrelations@vncorp.com (c) 1999 Market News Publishing Inc. All rights reserved. Tel:(604) 689-1101 Fax:(604) 689-1106 RapidFAX (tm) - To get the NEWS as it happens, call (604) 689-3041.

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