ACQUISITION OF COWICHAN INTERNET LTD. COMPLETED 1300 NEW SUBSCRIBERS ADDED TO CUSTOMER BASE
Mr. Gordon Tremain, President, is pleased to confirm that the acquisition announced September 10, 1999, has closed effective September 15, 1999, after completion of the necessary due diligence examination. Cowichan Internet Ltd., based in Duncan, BC, has a subscriber base of 1,300 dial-up customers and generates pre-tax cash flow of $26,000 per month.
Management's growth target of doubling the company's subscriber base every 12 months continues to be met, and pursuant to that policy, several additional strategically placed companies are under active consideration as possible targets.
BY ORDER OF THE BOARD TECHNOVISION SYSTEMS, INC.
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Gordon Tremain, President
THE VANCOUVER STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE
INFORMATION CONTAINED HEREIN |
