PRESS RELEASE 4.5 million shraes today close .165 ;-)
I can see big exposure ;-)
fin-info.com
HTRN 2000-04-27 (provided courtesy of BCE Emergis E-News Services.)
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Hall Train Entertainment Inc. - Announcement
Toronto, Ontario --
Hall Train Entertainment Inc. (CDN -HTRN) is pleased to announce
that it has signed an "arms length" letter of intent to acquire
a Toronto-based GPS application service provider, GPS Max.Com
Inc. (www.gpsmax.com)
GPS Max.Com Inc. is an Ontario company set up to become a
wireless Web-based applications service provider specializing in
the delivery of fully integrated solutions that link mobile users
to a GPS directory of independent business establishments. The
GPS Max solution is a marriage of wireless communications,
positioning technology and digitized mapping that can be
seamlessly interfaced with Web-based data warehouse of "en-route"
business establishment information. The GPS Max technology was
developed to exploit what GPS Max anticipates to be a growing
demand by consumers and businesses alike of dynamic Internet
services and applications as content becomes mobile. With the key
to success for the Internet lies in its applications, GPS Max
technology was developed to exploit one of the key advantages of
the wireless Internet, namely the ability to provide on-demand
location-based services such as:
* Local information for restaurants, hotels, service stations,
airports, etc.
* On-screen maps to the closest emergency services
* Advertisement to customers in the local area
* Emergency roadside assistance
* Time and location sensitive offerings
* Buddy lists
Since positioning services will become a key component of the
wireless Internet environment, it is GPS Max's strategy to
develop and make available its technology innovations in
positioning-system location-based applications. GPS' technology
and its solutions are expected to be available in the near term.
Hall Train has agreed, subject to all necessary regulatory and
other approvals, to acquire GPS Max in exchange for 8,500,000
common shares of Hall Train. Although Hall Train has not obtained
a formal valuation of GPS, management of Hall Train is confident
that GPS is worth in excess of $500,000. On completion of the
acquisition, Mr. Robert Modir, P.Eng. will become C.E.O. and
Chairman of Hall Train. Mr. Matteo Bossio will continue as
President and Chief Financial Officer. Mr. Modir has 15 years
experience in electrical engineering, project management and
consulting and in the automotive and Internet industries. Mr.
Modir obtained an electrical engineering degree from the
University of Ottawa in 1986 specializing in communications.
Mr. Matteo Bossio, President of Hall Train, stated that
"management at Hall Train is delighted to be able to acquire a
leading-edged development company in the high-growth technology
sector focusing on wireless Web-based and enterprise software
applications. We believe that this is a great opportunity for the
company."
Mr. Modir stated that "by aligning our business interests with
those of Hall Train, GPS Max will have access to the capital
markets to finish developing our products and be able to market
them.
We will also attain greater visibility which should improve our
marketing and benefit our clients."
In accordance with shareholder approval obtained at the 1999
shareholder meeting to make private placements in excess of 25%
of Hall Train's issued and outstanding shares, in an "arms
length" agreement Hall Train secured subscriptions, subject to
regulatory and other necessary approvals, for a minimum of
$250,000 and a maximum of $400,000 of special warrants at a
subscription price of $0.05625 per special warrant. The special
warrants are exercisable at no additional cost, into 7,111,111
units (at the maximum offering of $400,000 or 4,444,444 units at
the minimum offering). Each unit is comprised of one common share
and one share purchase warrant. Each share purchase warrant will
entitle the holder to purchase one common share at a price of
$0.20 at any time on or before the twentieth day after the
earlier of (i) a final receipt is issued by the Ontario
Securities Commission for the prospectus qualifying the issuance
of the common shares and share purchase warrants or (ii) January
31, 2001. This issuance will not result in change of control.
The use of proceeds will be used for further development of GPS
products and further capital requirements.
For more information, please contact:
Johnny Irish
Hall Train Entertainment Inc.
258 Adelaide Street East, Suite 200
Toronto, Ontario M5A 1N1
Phone: 416-955-9007
Fax: 416-955-9389
Trading Symbol: Canadian Dealing Network HTRN
Shares Outstanding: 20,280,085 (21,680,085 fully diluted)
P.S- Everyone who thought it would go nowhere, well read it BABY.. They also said the same thing about US Video US-VSE, when it was @ .10 and then hit $10.. ;-) ;-) ;-) ;-)
Regards,
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