TORONTO, Dec. 21 /CNW-PRN/ - Valu-net Corporation ("Valu-net") (CDNX:
VNE), is pleased to announce the appointment of Marsha Scharf and Arthur Stern
to the company's Industry Advisory Committee.
The two add to Valu-net more than 40 years experience in the marketing and
financial services sectors, thereby strengthening the company's ability to
grow its Internet commerce operations and secure significant new revenue
streams.
Marsha Scharf is currently director of E-Commerce at MGI Software (TSE:
MGI) where she is responsible for conceptualizing, developing and implementing
MGI's e-commerce strategies. Marsha Scharf brings to MGI extensive experience
in the application of interactive new media including software development,
e-commerce, Internet development and interactive marketing along with the
development of strategic alliances, industry and channel partnerships. Most
recently, Ms. Scharf was director of E-Commerce at Lasso Communications/Grey
Interactive where she was responsible for the development and global launch of
their NetMerchant Business Unit, which allowed clients to create
business-to-business and business-to-consumer e-commerce frameworks.
Arthur Stern is a consultant who supports knowledge-based industry CEO's
and their management teams by providing hands on counsel in the areas of
strategic planning, funding, human resource development, operational and
financial controls, and infrastructure design and execution. He currently
works with a number of technology companies, managing the impact of rapid
growth. Recently, Mr. Stern was the CFO of a TSE listed technology firm with
revenues of $30 million. Prior to taking this role, Mr. Stern was a partner of
Arthur Anderson where he spent twenty years both serving clients in the
financial services sector and managing operations as Chief Administrative
Officer of this 500 strong professional services firm.
David Lucatch, president and CEO of Valu-net said, "We are pleased to have
business leaders of the caliber of Marsha Scharf and Arthur Stern on our
Industry Advisory Committee. This clearly reflects the tremendous potential
and quality of Valu-net's operations. The support and vision of these
individuals will prove to be great assets to Valu-net as we transition to a
new stage of growth."
"This announcement, and those made over the past few weeks, set the stage
for exciting new developments at Valu-net, designed to secure our future
growth and deliver increased shareholder value," added Mr. Lucatch. "Although
Valu-net has grown rapidly to date, continued expansion will rely on our
ability to successfully move into emerging sectors in the e-commerce market.
Our strategic intent is to rapidly secure a leading market position by
executing a plan that will build Valu-net's capabilities and establish our
leadership. Our recent deal with the Applied Innovations Group of Companies,
the hiring of management talent, and the expansion of our Industry Advisory
Committee are all consistent with our strategic plans."
Valu-net's Industry Advisory Committee was formed to provide strategic
direction and insight to support the company's rapid growth in the Internet
commerce sector. The current membership includes:
Industry Advisory Committee
Stanley Rose, Barrister, Committee Chairperson
David Abrams, Executive Vice President, Cook Abrams Blake
Communications Inc.
David Bloom, Chairman & Chief Executive Officer, Shoppers Drug Mart
Howard Lichtman, LL.B, MBA, President, The Lightning Group
Alasdair McKichan, President, McKichan Associates Inc.
Mike Vanderlee, Internet Business Development
Bill White, Senior Vice President, CIBC Creditor Insurance
Arthur Stern, CA, Consultant
Marsha Scharf, Director of E-Commerce, MGI Software
On November 4, 1999, Valu-net Corporation and Applied Innovations Group
Inc. announced the signing of agreements expanding the business relationship
between the two firms to include reciprocal equity investments, as well as
exclusive, revenue based e-commerce services to AI Group companies, including
Bid Freight Global.
The transaction between Valu-net and Applied Innovations is subject to the
approval of Valu-net shareholders and receipt of all necessary regulatory
approvals and certain other conditions.
About Valu-net
Founded in 1995, Valu-net develops online marketing and electronic
commerce programs for selling products over the Internet. This expertise is
used to directly create Internet business initiatives through Valu-net's own
divisions, joint ventures, and industry partnerships. In addition, Valu-net is
able to offer merchants a complete range of business enabling services to meet
the growing demand for secure and effective electronic commerce. These
services are available to merchants directly through Valu-net or indirectly
through agreements with agencies and resellers. Valu-net's division, The
eMerge Alliance (www.emergealliance.org) offers merchants easy entry into the
electronic commerce market with a turnkey solution that is both scalable and
cost-effective. Further information is available through Valu-net's corporate
web site at www.vncorp.com.
The Canadian Venture Exchange has neither approved nor disapproved the
information herein contained.
SOURCE Valu-net Corporation
-0- 12/21/1999
/CONTACT: VALU-NET INVESTOR RELATIONS CONTACT: Jay Hussey, The Equicom
Group Inc., Phone 416-815-0700 ext. 225, Fax 416-815-0080,
jhussey(at)equicomgroup.com; VALU-NET MEDIA RELATIONS CONTACT: Brad Friesen,
Friesen Strategic Inc., Phone 416-921-6789, Fax 416-921-6121,
brad(at)friesenstrategic.com; To request a free copy of this organization's
annual report, please go to www.newswire.ca and click on reports(at)cnw./
(VNE.)
CO: Valu-net Corporation
ST: Ontario
IN: MLM
SU: PER
-30-
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