Tuesday May 18, 7:30 am Eastern Time
Company Press Release
JVWEB Completes Registration of
Warrants
HOUSTON--(BUSINESS WIRE)--May 18, 1999--JVWEB, Inc. (OTC BB:JVWB) today
announced that the Company has completed the updating of its warrant registration with the U.S.
Securities Exchange Commission. Holders of JVWEB's warrants may now submit their warrants for
exercise. Each of JVWEB's Class A Warrants (OTCBB: JVWBW - news) may be exercised by the
payment of an exercise price of $1.00. Upon exercise of a Class A Warrant, the exercising warrant
holder will receive one share of JVWEB common stock and two JVWEB Class B Warrants. Each
Class B Warrant entitles the holder to purchase one share of JVWEB common stock at an exercise
price of $2.00. The Company expects JVWEB's Class B Warrants to initiate trading in the near
future.
''We are pleased that the updated warrant registration which was filed with the Securities and
Exchange Commission has been approved,'' stated Greg Micek, President and CEO of JVWEB.
''All holders of JVWEB Class A Warrants are encouraged to exercise their warrants at this time.
We are confident that the additional funding (totaling $22.5 million) upon the exercise of all the
registered JVWEB warrants will significantly advance the Company's pursuit of its business plan and
provide additional funding for strategic acquisitions to enhance the value of JVWEB'common stock.''
Persons holding Class A Warrant certificates may exercise their warrants in the following manner:
1. Complete the election to purchase form on the backside of the
warrant certificate. 2. Sign the completed election to purchase form in the appropriate
place, and have the signature guaranteed by a member firm of a
national securities exchange, a commercial bank or trust company,
a member of the National Association of Securities Dealers, Inc.
or other eligible guarantor institution which is a participant in
a signature guarantee program; and 3. Return the properly signed and completed election to
purchase
form (together with a check or money order payable to ''JVWEB
Inc.,'') to JVWEB's Transfer Agent: American Stock Transfer and
Trust Company, at 6201 15th Avenue, 2nd Floor, Brooklyn, NY
11219, Attention: Imre Farkas. The amount of the check or money
order should equal the number of Class A Warrants being exercised
multiplied by $1.00.
Class A Warrant holders who have deposited their warrants in brokerage accounts should contact
their account representatives regarding the manner for exercising the Class A Warrants.
JVWEB was formed to pursue electronic commerce opportunities over the Internet. The Company's
objective is to build strategic Internet services 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 Statement: 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 uncertainities
including but not limited to, business-to-business opportunities on the Internet, the timeliness of
Internet development activities, as well as availability of human resources, which may cause actual
results to differ materially from those expressed in any forward-looking statements made by or on
behalf of JVWEB.
Contact:
DeMonte Associates
Cynthia DeMonte or Sean Leous, 212/473-3700
E-mail: Cdemonte@demonte.com or sleous@demonte.com
Fax: 212/707-8668
More Quotes and News:
JVWEB Inc (OTC BB:JVWB - news)
Related News Categories: computers, internet
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