Net Shepherd Inc. - Announcement
Calgary, Alberta - Friday, March 3, 2000, 10:48 AM EST
Net Shepherd Inc. (CDNX: WEB) announced today that it is not aware of any material change that would have resulted in yesterday's trading activity. However, through its subsidiary Answers.com, Inc., Net Shepherd Inc. has been and continues to be in active discussions with a number of major companies with respect to revenue generating contracts and alliances. The Company at this time is unable to confirm whether any one of these contracts will be consummated.
Net Shepherd is also aware that its subsidiary Answers.com, Inc. has been identified as a competitor of Ask Jeeves, Inc. in a recent SEC filing by Ask Jeeves and is receiving a certain amount of attention in Internet investor forums.
Net Shepherd also announces that the "Enhanced Business Transactions" with the Vanenburg Group are progressing well (see our announcement of February 22nd) and the Company expects to receive shareholder approval for these transactions at the Special Shareholders' meeting scheduled for March 21, 2000 in Calgary.
Mr. Don Sandford, President and CEO of Net Shepherd Inc. states that, "the Company continues to receive various inquiries about new proposals and proposed alliances, and I am pleased that the Company is now becoming much better recognized in the Internet world and investment community."
Background Notes:
Net Shepherd Inc (NSI) has proprietary technology and know-how that allows businesses to collect information and perform work by using communities of people connected to the Internet. NSI commercializes its technology and know-how primarily through subsidiary application companies (AppCos). The AppCos serve business customers with information services that represent significant speed and cost advantages over competitive solutions. NSI's business plan is to acquire and develop AppCos that leverage its technology platform and then spin-off the AppCos through public financial markets. NSI currently supports three AppCos: Answers.com, K Topia.com and ClickChoice2000.com.
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