Who needs gold when we have software.
Regards
JOE SAX
TORONTO, Feb. 16 /CNW/ - Goldstake Information Technologies Inc.
(G.I.T.), a wholly owned subsidiary of Goldstake Explorations Inc. (TSE -
GXP), today signed agreements with Postec Systems Inc., of Calgary, Alberta,
whereby G.I.T. has a licensing agreement and an Option to acquire all of
Postec's assets and retail point-of-sale computer software programs, for a
royalty until December 31, 2002 equal to 15%, and thereafter 7.5%, of the net
operating profit of G.I.T.
G.I.T. is required to pay Postec advance royalties of $90,000 and a
further $20,000 for each of three years from the date of exercise of the
Option and, during the currency of the Option, fund all normal operating
expenses of Postec to a maximum of $30,000 per month.
After the Option has been exercised, G.I.T. shall have the right to
acquire the royalty at any time prior to August 31, 2002, upon payment to
Postec of $1,200,000 less all advance and actual royalties paid by G.I.T., and
at any time after August 31, 2005 upon payment to Postec of an amount equal to
the actual royalty paid by G.I.T. during the immediately proceeding three
years.
Voting covenants in favour of the Licence/Purchase Agreement have been
received from the required majority of Postec shareholders which is to be
ratified at a meeting on or before April 15, 2000.
Goldstake Information Technologies Inc. owns outright the Windows and NT
<24>versions of the Postec software which is an enterprise wide management system,
versions of the Postec software which is an enterprise wide management system,
incorporating all aspects of the business from point-of-sale, customer
tracking, e commerce, inventory control, purchasing, receiving, on line
ordering, order fulfillment plus the ability to connect to existing accounting
systems.
Over the next two months, G.I.T. will be assembling an experienced
marketing and sales team to begin active marketing of the software product to
North American businesses.
Goldstake Explorations Inc. is listed on The Toronto Stock Exchange -
Symbol GXP. Goldstake Information Technologies Inc. (G.I.T.) is a wholly owned
subsidiary of GXP.
/For further information: Mr. Robert Cleaver, Goldstake Explorations Inc.(416)
861-3010; Mr. Barrie Usher, Goldstake Information Technologies Inc.(416)
861-3010; Mr. Chris Brennan, Goldstake Information Technologies Inc.,Calgary
(403) 543-7767; Toronto Office e-mail: gxp(at)yesic.com/ |
