From: newsout@canada-stockwatch.com
Date: Wed, 15 Sep 1999 14:49:24 -0700
Subject: Stockwatch: VERSUS Technologies Inc - News Release
VERSUS creates e-commerce investment banking service
VERSUS Technologies Inc V
Shares issued 11,619,874 Sep 14 close $10.70
Wed 15 Sept 99 News Release
Mr. Doug Steiner reports
VERSUS Technologies has created VERSUS Capital.com, an investment banking
service to be offered through the VERSUS Network by the company's broker
affiliate, VERSUS Brokerage Services Inc.
VERSUS's new on-line investment banking service will be founded by Don S.
Reid, a former managing director and co-head of the worldwide energy group
at Morgan Stanley Dean Witter, and will introduce a new class of on-line
investment banking services to the Canadian marketplace. Mr. Reid, a
well-known investment banking industry leader, who has worked extensively
in the Canadian market since 1980, will become an investor in VERSUS, as
well as a member of the management committee, subject to formal regulatory
requirements. VERSUS Capital.com will provide institutional and individual
on-line investors who are VERSUS Brokerage Services Inc. and E(x)TRADE
Canada customers with electronic access to subscribed public offerings.
VERSUS Capital.com expects to be in a position to begin underwriting its
first public offerings later this year.
"VERSUS Capital.com represents a potent combination of traditional
investment banking expertise, advanced technology and channel reach into
the rapidly growing on-line investor market," said Doug Steiner, chairman
and chief executive officer of VERSUS. "We have been very fortunate to
attract a partner to VERSUS of Mr. Reid's reputation and experience. We
intend to build a world-class corporate finance team and create a new breed
of investment banking company."
Leveraging VERSUS's technology, VERSUS Capital.com will conduct much of its
investment banking activity -- from IPO road shows to share distribution
and research dissemination -- over its private network and the Internet.
"VERSUS Capital.com is another step in our journey toward low-cost,
electronic distribution channels in the financial services market,"
continued Mr. Steiner. "It means better access to on-line investors, fair
distribution of securities for institutional participants and a
cost-effective service model for emerging companies who can now have better
control over their most important asset -- their company's shares."
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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