Greetings,
The management of Millennium is very pleased to announce the signing
of the agreement to purchase Lyco Logistics. This acquisition is a key
one in that it will help differentiate us from the competition. Supply
and fulfillment has been a big problem for companies trying to do
business on the web. Typically it has been an area that few companies
can handle efficiently or make a reasonable profit from. Lyco
Logistics, using their computerized automated system will not only
deliver products in real time but they will allow companies to increase
(profits) on products sold, an area that e-commerce companies are
desperate to address.
We will be able to supply the following to small, medium, or large
sized business and corporations looking to be profitable in e-commerce.
1) Millennium's fully integrated website with a (built in) steady
stream of consumers that continue to shop at our site because of
Millennium's commission program.
2) A large number of quality brand name products that are competitively
priced and offer a wide variety of choice.
3) Millennium can offer everything from web-site development and design
data management control and interfacing on a business to business
level or business to consumer.
4) First class order processing, fulfillment and delivery of products
that make e-commerce companies profitable and stand out in a
industry that is ultra competitive.
5) The ability to introduce new opportunities for companies in vertical
markets, and international markets around the world.
If you would like to visit Lycologistics site please click on the link
that is provided lycologistics.com Please call me directly at
the toll free number below to find out more about this or any other news
release.
Jim Kootnekoff
Manager, Investor Relations
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The Millennium Network Corporation
ASE Stock Symbol: MLM
Suite #310, 525 - 28th Street SE, Calgary, Alberta T2A 6W9
Phone: 403.207.7970 Fax: 403.235.6595 August 4, 1999
NEWS RELEASE - Release Date: immediate
Millennium to acquire Internet product fulfillment company
The Millennium Network Corporation announced today that it has signed a
memorandum of agreement to purchase 100 per cent of Lyco Logistics Ltd.
of Langley, BC, a fully automated fulfillment and distribution
warehouse. The purchase price and the terms of the transaction have not
been disclosed pending the formalization of the final contract and
receipt of regulatory approval.
Using sophisticated electronic technology, Lyco inventories, picks,
packages and ships individual orders directly to consumers in real-time
(within 24 hours).
"The acquisition of a first-class logistics facility is an important
building block in realizing our vision of a fully integrated e-commerce
business", says Bernie Lauser, President & CEO of Millennium. "It has
become very obvious that the efficient, low cost picking and packing of
consumer products required by most online product sellers is one of the
last missing puzzle pieces in the Internet picture."
"The majority of warehouses in North America are not geared to
efficiently handle Internet commerce because they are accustomed to
shipping case lots to wholesalers rather than a mix of individual
products to consumers," says Renato Cavaliere, Lyco's Managing Partner.
"Lyco can handle all these tasks in a fully automated, low cost
environment. Lyco has been providing logistics services to Millennium
for the past 15 months."
Once the acquisition is completed, Millennium will be a vertically
integrated e-commerce business, providing a networked sales force, an
Internet web site for merchants and their products/services, and a
logistics centre for distribution.
"It became very clear that a distribution warehouse such as Lyco was an
ideal fit for Millennium allowing both companies to realize their long
term goals," says Cavaliere. "It allows Lyco to attract additional
logistics customers in the e-commerce marketplace and Millennium can keep
pace with the rapid growth in the online market by offering the merchants
at the wowya.com online shopping site not only order processing, but
also the efficient fulfillment of these orders."
"It makes for an unbeatable combination", says Lauser, "especially since
Lyco, with a seven figure annual logistics fee income, is a profitable
company today. As our business model matures, it should allow Millennium
to show early profitability in an industry that is presently marked by
the absence of profit."
The Millennium Network Corporation is an integrated e-commerce company
which owns and operates an on-line shopping site at wowya.com providing
consumers the opportunity to shop for products and services as well as
profit from the company's unique referral commission program. This news
release contains certain forward-looking information and actual results
may differ materially. The risks, uncertainties and other factors that
could influence actual results are described in documents filed with
regulatory authorities.
For more information:
Bernie Lauser, President, Phone: 403.207.7970
Jim Kootnekoff, Manager Investor Relations, 1.877.387.5526,
investor@wowya.com
wowya.com
lycologistics.com
The Alberta Stock Exchange has neither approved nor disapproved the
information contained herein |
