("BGZ-V")- Gold2u.com And Corporate Update 02/06/99
Robin A. Slaughter, President & CEO of BRAZILIAN INTERNATIONAL GOLDFIELDS
LIMITED reports:
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Gold2u.com
The Company expects to launch in June 1999 a separate subsidiary company with website domain
name Gold2u.com. This site will market and sell gold jewelry over the Internet by providing internet
users a direct buying conduit of uniquely positioned high quality gold jewelry.
In 1998, global demand for gold was 2713 tonnes. It is estimated that up to 90% of the total
demand is for gold jewelry. This is 2,442 tonnes valued at some US$21.6 billion. Consumers pay,
on average, nearly 3 times the gold price for their gold jewelry, so the retail value of the world gold
jewelry market was some US$65 billion in 1998.
Gold2u will offer consumers more direct purchasing of gold jewelry than has traditionally been
possible. In this regard, Gold2u expects to offer lower prices for gold jewelry than traditional
methods allow.
The new Gold2u website will, over the next three years, target this huge global demand wherein jusy
a 1.5% market share is worth potential sales of US$1 billion. Gold2u will offer high quality gold
jewelry at very competitive prices. Since demand for gold and gold jewelry is predicated in part
upon the price to the consumer, Gold2u expects to meet heavy demand.
Ultimately, by estabishing backward vertical integration, Gold2u will develop a long term stake in the
gold markets underpinned by direct Internet customer access and demand.
A business plan is currently being prepared by independent consultants for submission to regulatory
authorities.
The Company wishes to restate that this and any other potential Internet developments will be
spun-off into stand-alone public vehicles with separate funding and management. The Company will
continue to focus on resource asset development with its principal target being the Cachoeira Gold
Property in Brazil.
Corporate Update
The Company has entered into an investor relations services agreement with Mr. Richard Barsom,
on May 15, 1999. Mr. Barsom, of R. H. Barsom Company, is the sole proprietor of his New York
based consulting firm; and was retained by the Company as an investor relations consultant to
provide internet related services, as required, over the course of the next six months. The Agreement
is subject to regulatory approval.
Mr. Barsom holds a bachelors degree in economics from Colby College, ME, and a masters degree
in communications from Ernemon College, Boston. His experience also encompasses 10 years as an
investment advisor with a brokerage firm in New York and six years as a provider of internet related
services.
The Consultant has agreed to provide the following services:
1. E-mail - The Consultant has established a list of customers who follow information, which is
provided to them by E-mail, and the consultant will disseminate publicly disclosed information about
the Company.
2. Web site - The Consultant will assist the Company in updating its Web site, as well as making the
Company's Web site more accessible and user friendly. through the creation of links to various
investor sites and search engines.
3. Chat rooms and message boards - The Consultant will monitor and participate in chat rooms and
message boards in an attempt to ensure that published information about the Company is current
and accurate.
The Company has agreed to pay the Consultant a fee of US$35,000 for his services as well as
reimbursement for all pre-approved expenses. The information provided by the Consultant will be
publicly disclosed information and will contain a disclaimer regarding the accuracy thereof. The
consultant will also disclose that the Consultant, members of the Consultant's family and/or entities
with which they are affiliated may own shares in or have financial dealings with the Company.
Ms. Marcelin Mellish has resigned as Corporate Secretary. The Company wishes to thank Ms.
Mellish for her contributions and wish her well in her future endeavours. |
