SHPS: shopss.com Receives $25 Million Equity Investment...
(which is equivalent to $12.50/share)....
PLAINVIEW, N.Y., Nov. 23 /PRNewswire/ -- shopss.com, Inc.
(OTC Bulletin Board: SHPS), the pioneering virtual shopping mall, today
announced the receipt of a $25 million private placement in exchange for
2 million common shares of shopss.com stock. The total number of issued and
outstanding shopss.com shares now totals 22 million.
"This private placement will allow shopss.com to increase its
international market awareness through a series of innovative promotional and
advertising campaigns," said Gerald Conca, president & CEO of shopss.com.
The gold card membership, which costs $299 per year, provides an array of
benefits, including a free 500Mhz Pentium III computer. As part of the
contract, Gold Card members must agree to receive one e-mail per day from
shopss.com. Other Gold Card benefits include the shopss.com Phonetastic
service, which provides unlimited calling throughout the U.S., Canada and
Puerto Rico (Israeli consumers have use of this service in the U.S. only),
participation in on-line auctions as a buyer and seller, a 3 to 5 percent
discount on all winning bids and special discounts on imported products.
Regular shopss.com membership requires a two-year contract and a
commitment to spend a minimum of $30 per month on the shopss.com website or at
the shopss.com stores in Tel Aviv and Herzlia Petuach. Members who do not
meet the $30 minimum requirement will be charged a $19.95 monthly service
charge. Beyond the array of products available on www.shopss.com, members can
also shop at other selected Internet stores, including Amazon.com, jcrew.com
and 1-800-FLOWERS.COM.
For more information: www.shopss.com.
www.shopss.co.il (Hebrew)
Contact: James H. Post of Edelman PR, 212-704-4473, or
jim_post@edelman.com, for shopss.com.
SOURCE shopss.com, Inc.
-0- 11/23/1999
/CONTACT: James H. Post of Edelman PR, 212-704-4473, or
jim_post@edelman.com, for shopss.com/
/Web site: shopss.com
shops.co.il
(SHPS)
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