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Gold/Mining/Energy : ITV Games Inc. V.TVE (Formerly Border Capital)
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To: Spark who wrote (124)6/23/2000 10:36:00 PM
From: Boolish  Read Replies (1) of 137
 
Just got in from a day on the water. SURPRISE!!!!

newswire.ca

VANCOUVER, June 23 /CNW/ - BORDER CAPITAL CORP. (CDNX: BOP) (``Border''
or the ``Company'') is pleased to announce that it has completed the
acquisition of 100% of the outstanding shares of BingoNet, Inc.
(``BingoNet''), a Delaware corporation, for a purchase price of $US6.5
Million. BingoNet holds contractual rights, including residual royalties and
reversionary interests, to certain U.S. and International patents, for playing
bingo and pattern recognition games of chance over a wide geographic area.
Details of these rights are disclosed in Border's Filing Statement dated July
30, 1999. Pursuant to the acquisition the Company paid to the vendor of
BingoNet the sum of $US4.5 Million on June 23rd, 2000, with the remaining
balance due for payment on June 12th, 2001. Financing was obtained through a
previously announced private placement for CDN$2.5 million and exercise of
warrants for CDN$4.9 million. The acquisition of BingoNet has received
conditional approval from the Canadian Venture Exchange.

The Canadian Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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