Meteor to acquire ThoughtShare Communications
Meteor Minerals Inc MMI
Shares issued 13,902,820 Jun 22 close $0.12
Wed 23 Jun 99 News Release
Mr. Jonathan George reports
The company has entered into a letter of intent with ThoughtShare
Communications Inc. wherein Meteor may acquire an initial 35 per cent
interest in the company by making staged cash payments totalling $500,000.
ThoughtShare Communications is a Vancouver-based Internet company that has
developed a Web-browsing tool which significantly simplifies a user's
search on the World Wide Web, by enabling the user to bookmark on the fly
and make annotations that can be shared by E-mail, or published at a Web
site. In order to fully exploit the information-sharing potential of
ThoughtShare, powerful distribution channels will be created to disseminate
the browser application through partnerships with significant portals,
compatible-applications companies and a dedicated Web site.
ThoughtShare is a synthesis of two licensed technologies, one of which is
the result of a five-year, six-million-dollar research project conducted by
Simon Fraser University, which retains a 30-per-cent interest in the
company. Over the next five years, ThoughtShare is projected to achieve
substantial growth and revenues through upgrades, advertising and
sponsorships.
The letter of intent provides that Meteor will be entitled to appoint one
person to the board of directors and management team of ThoughtShare.
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