JSS acquires WSI; Bryan Kanarens joins as vice president
JSS Resources Inc JSS
Shares issued 31,020,114 Jun 24 close $0.38
Fri 25 Jun 99 News Release
Mr. D. William Campbell reports
The company is acquiring, subject to regulatory approval, WSI Management
Group Inc., which in turn owns Medianet Solutions Inc., Targetpacks
Enterprises Corp, and Western Shores Direct Marketing Group Inc.
Bryan Kanarens has joined WSI as vice president and general manager. Mr.
Kanarens was previously with American Express, where he was general manager
of the Expressly Yours merchandising business. He went on from there to
start Thompson & Associates, a successful direct marketing agency in
Toronto that achieved annual sales of over $9-million in only three years.
Medianet, which is an Internet development, e-commerce, Internet marketing
and web hosting company, is negotiating a contract with an organization
associated with the film industry, which will result when concluded with it
opening an office in Los Angeles. It has also recently completed an award
winning Web site for a client in the hotel reservation business, which
doubled traffic to the site in the first week.
Targetpacks, which is a targeted opt-in E-mail list marketing company, is
negotiating with a public company to develop a financial-investment related
Web site which will be worth at least $250,000 (U.S.) to the company when
concluded. It also has under construction its industry-specific opt-in
E-mail programs, including autopacks, homepacks, gift-packs and
samplepacks.
Western Shores, which is a full service direct and database marketing
company with traditional and new media capabilities aid which is the
principal company in the group, has just completed a successful year with
sales increasing by over 30 per cent from the previous year.
Sales for the group as a whole were almost $3-million for the last year. In
addition to the above, many projects are in development for all of the
companies in the group.
Further to news in Stockwatch on June 3, 1999, the company is reducing the
number of performance escrow shares to be issued as part of its
re-organization from 6,400,000 to 3,000,000. The earn out price for these
performance shares (that is, the amount of cash flow needed to be earned by
the company in order to release one sham from escrow) shall be 40 cents.
Further to news in Stockwatch on May 19, 1999, the company shall be seeking
shareholder and regulatory approval for an increase in the number of shares
issuable pursuant to its stock option plan from 3,600,000 to 7,200,000.
Both of these matters shall be put to shareholders for their approval at a
meeting to be convened in July.
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