News and price rise, anyone watching?
I notice Sudhir of the Resource Indicator is mentioned.
March 24, 2000
Makes Investment in Newsgurus.com
CANALASKA VENTURES LTD ("CVV-V;CVVLF-L")
- Makes Investment in Newsgurus.com
The Management of CanAlaska Ventures Ltd. ("CanAlaska") is pleased to announce its second strategic equity
investment.
NewsGurus.com, Inc, ("NewsGurus") , an Internet-based media company, and CanAlaska have signed an
agreement for a staged equity investment by which CanAlaska can earn up to 26% of NewsGurus.corn Inc. and
51% of a joint venture company that will have exclusive rights to the NewsGurus information base, technology
and content for Continental Europe, South and Central America, including Mexico and the Caribbean. The
NewsGurus concept 13 to create a dynamic website, updated daily, which will showcase the thoughts and
opinions of a wide-ranging group of established writers and experts.
Chris Bunka, President and CEO of NewsGurus.corn, said "We've designed our media company from the
earliest conceptual stages to take full advantage of the Web. Our users will save substantial time and money at
our site. And, we will pursue relationships and Joint Ventures with innovative software developers whose
products could change the face of the Internet. NewsGurus is a win-win for users and content providers alike."
According to Veronis, Suhler & Associates, Americans will spend US$663.3 billion on media by 2003 - making
this the sixth largest industry in the United States. NewsGurus is amalgamating new and exclusive content from
Independent journalists, editors, and celebrity-style content providers around the world. The initial focus is on
investing and finance, with expandable modules that will subsequently feature enhanced content in the fields of
health, wellness and lifestyles.
Sudhir Khanna, VP of Information Technology of NewsGurus.com. Inc. said "Personalized content from trusted
and exclusive analysts differentiates us: it is difficult and expensive to duplicate. Expert opinion will be enjoyed by
our members, syndicated to our partners, and drive business-to-business commerce. We will pursue relationships
with wireless technology companies to deliver our content through pagers; set-top boxes; hand-held devices, and
cellular phones."
NewsGurus is currently in the testing phase for its beta version website located at www.newsgurus.com and
intends to become the expert opinion provider of choice for individual users as well as within business-to-business
applications. Anticipated delivery methods include the World Wide Web, email, print and wireless.
By a staged investment of US$540,000, CanAlaska can earn an initial 15% equity interest in NewsGurus.com
Inc. A further CanAlaska investment of US$2 million earns an additional 11% for a total of 26%. As part of the
agreement, CanAlaska will appoint one member to the NewsGurus Board of Directors and two members to the
NewsGurus Advisory Board and will further contribute management expertise during the start-up phase.
TEL: (604) 685-1870 Harry Barr, President
FAX: (604) 685-8045 CanAlaska Ventures Ltd.
E-mail: ir@canalaska,com
Internet: www.canalaska.com |
