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Global Net Entertainment Corp -
Global Net closes acquisition; new directors, officers
Global Net Entertainment Corp
GET
Shares issued 8,865,256
1999-10-28 close $0.65
Friday Oct 29 1999
Mr. Sheldon Kales reports
The company has closed the acquisition of Global Netertainment Corp. which is
now a wholly owned subsidiary of the company. The company has issued 2.5
million escrowed common shares to Julius Csurgo and Peter Zmudzki, which
shares are to be released in accordance with the governing escrow agreement as
confirmed by the recent Vancouver Stock Exchange notice.
With the completion of this transaction, Julius Csurgo has been appointed
chairman and chief executive officer of the company, and Peter Zmudski has been
appointed president and director of the company. To make room for these
appointments, Sheldon Kales has resigned as president and Maurizio Sprovieri
has resigned as a director of the company. Mr. Kales will continue as a director
and active participant in the affairs of the company.
Mr. Zmudski, the new president of the company, has nearly 20 years of
experience in interactive digital communication networks. After working as a
designer for Bell Canada's first on-line communications network, Mr. Zmudski
became a founding partner in Picture Data Inc., an on-line communications and
transaction processing venture in the early 1980s. In 1985, he moved to New
York City and worked as a senior design consultant with Scripts Howard, Time
Magazine, People magazine, Consumers Union and Prodigy. He then became a
partner in Foodfax, a developer of an interactive kiosk network for major
supermarkets, and later worked for Citibank in its electronic boutique banking
division. From 1990 to 1994, he served as president and senior partner of
Interactive Media International in Venezuela serving South American markets in
conjunction with the country's largest Apple Computer distributor. He developed
a number of influential business connections from this experience. Upon his return
to Canada in 1994, Mr. Zmudzki founded Information Architecture, a digital
multimedia design studio. From 1996 until its recent sale, he served as chairman
and chief executive officer of PageActive Inc., an Internet software development
company. PageActive assisted with the development of an on-line sports betting
facility for Bowman's International, a leading Sports Book company; and the
design and implementation of instant win gaming software for Universal Music
(Canada). As president of the subsidiary, Mr. Zmudski is responsible for software
development, acquisitions, licensing and testing as well as overall implementation
of Global's business plan to be a leading gaming software development and
operations company.
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