Wowstores.com completes acquisition of Stockfirst.com
For Immediate Release: BOCA RATON, Fla August 25, 1999 - Wowstores.com Inc. (OTC BB: WOWS-news) announced today, it has completed the previously announced acquisition of substantially all of the shares of Stockfirst.com Inc. (a private Internet company located in Jericho, NY). Stockfirst.com, located at stockfirst.com is the publisher of Stockfirst.com, a leading Internet-based provider of insightful investor financial content including Free Real Time Quotes, Daily Market Commentaries, Charts, Investment Newsletters and Fundamental Economic and Stock Specific Data.
More than 93% of the shareholders of Stockfirst.com have agreed to exchange their shares of Stockfirst.com for shares of Wowstores.com. Such shareholders will hold more than 320 million shares of Wowstores.com or more than 64% of Wowstores.com. The terms of the acquisition include provisions for Stockfirst.com management to assume the management of Wowstores.com.
Stockfirst.com is listed among the Top 50 Financial Sites by the The Public Registrar's Annual Report Service (PRARS)- prars.com - and is listed as 66th amongst the 100 hot finance sites listed on 100 Hot Finance - the Web's Most Popular Finance Sites- 100hot.com. Stockfirst.com competes with TheStreet.com (Nasdaq:TSCM- news), and CBS MarketWatch.com (Nasdaq: MKTW-news).
David Hirsch, President of Stockfirst.com announced the transaction and stated: "The management team of Stockfirst.com is looking forward to managing the combined entity and moving ahead. This acquisition will mark a new direction in the company's business, the ultimate goal of which is to enhance shareholder value. Stockfirst.com has over 54,000 subscribers and averages 3,500,000 page views per month with over 250,000 unique visitors and 61,000 recurring users. We consider ourselves a formidable competitor to TheStreet.com's current 60,000 + subscribers."
Management of Wowstores.com also took into consideration the fact that in June of this year, Telescan (Nasdaq: TSCN-news) acquired INVESTools whose website receives over 300,000 unique users per month and has over 13,000 current subscribers for 2.3 million shares of Telescan or $53 million worth of stock. Additionally, CBS Marketwatch.com acquired BigCharts.com for $166 million in cash and stock.
Stockfirst.com located at stockfirst.com, is the publisher of Stockfirst.com, a leading Internet based provider of investor financial content available for investment decisions, including Free Real Time Quotes, Daily Market Commentaries, Charts, Investment Newsletters, and Fundamental Economic and Stock Specific Data. Wowstores.com Inc., located at wowstores.com, is a commission-driven Internet shopping directory. This site provides customers with access to merchandise and services 24 hours a day. The company earns a commission on items purchased via Wowstores links to the affiliate or sponsor sites.
Forward-looking statements in this release are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward- looking statements are subject to certain risks and uncertainties and actual results could differ from those discussed.
For more information, contact: The Hawke Group, Inc.
Phone (954) 564-7114 Fax (954) 564-9848
Visit our website at www.hawkegroup.com.
This material was prepared and disseminated by The Hawke Group, Inc. ("Hawke") for the Company discussed herein, based upon Company supplied information or other sources believed to be reliable. The information is not guaranteed by Hawke for accuracy or to be all inclusive. This material is information only and is not an offer or solicitation to buy or sell the securities. Hawke, its affiliates, and/or its officers, directors and employees may from time to time have a position in these securities. The Hawke Group has been compensated by the Company. |
