PANTHER RESOURCES LTD. ("PTHR-L") - Shareholders Vote in Favor of New Direction
Mr. Gordon Muir, CEO of Panther Resources Ltd. (the "Company" or "Panther"), is pleased to announce that the majority of
shareholders (98%) have agreed with the proposed new direction for the Company. "Obviously, shareholders are aware of the
hurdles yet to be faced with stagnant and falling metals prices," says Katherine Johnston, Chair of the Annual General meeting
or the company held at the corporate offices on June 11, 1999.
"We recognized that the Company needed to change their business focus immediately, Said Mr. Gordon Muir, CEO of
Panther, "there is nothing on the horizon that will solve the current problems in the mining industry. Companies need to make
themselves over to be competitive in the digital age."
At the meeting on June 11, 1999, a consensus was reached to change the focus of the business of Panther from mining to
technology related services and products. In addition, Panther will change its name to PhantomFilm.com and will consolidate
the shares on a ten for one basis effective immediately. The Board of Directors has instructed the auditors to place all mineral
assets in reserve for the annual 10K due at the end of June, 1999.
The new PhantomFilm corporate entity will focus on streaming multimedia. This change of direction for the company will allow
a much faster route to developing revenue. With no development costs and an already established market for streaming video,
PhantomFilm has identified that the market for instantaneous video viewing is the most natural evolution for the Internet
multimedia industry. PhantomFilm's streaming video will enable even the beginner Internet user to view any video contact on
the Internet without the need to download software such as needed by Windows Media Player (MSFT) or RealPlayer
(RNWK). TEL: (604) 689-5377
Mr. Gordon Muir, CEO FAX: (604) 681-3585 EMAIL: info@pthr.com INET: www.pthr.com |
