Here is the latest News Release:
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: OUTER EDGE INC.
CANADIAN DEALING NETWORK, OTC Bulletin Board SYMBOL: OEII
MAY 16, 1997
Outer Edge Subsidiary with New Dave and Buster's
Installations
TORONTO, ONTARIO--Outer Edge Inc. announced today its wholly-owned
US subsidiary, Virtual Images, Inc. (VII) has entered into a
second purchase agreement with Dave and Buster's, Inc. (Nasdaq -
DANB) of Dallas, TX for its high performance virtual reality
entertainment system; CyberPak. The agreement, valued at
approximately $220,000.00 USD, will include installations in 4
cities including the company's newest and soon to be opened
location in Cincinnati, Ohio. Once open, it will be the company's
11th center in the United States. The installations are targeted
to be completed during 3rd Quarter 1997. Other sites include
Atlanta, Denver and a yet to be announced location.
Founded in 1982, Dave and Buster's is one of the country's leading
upscale restaurant and entertainment concepts with very aggressive
growth plans into the next century. Capitalizing on the theme of
"Food and Fun", Dave and Buster's has created a concept that is on
a success track with growth plans calling for the opening of
another 15 stores within the next three fiscal years. The first
United Kingdom Dave and Buster's opens this month as a result of a
seven store licensing agreement with Bass Plc. Virtual Images,
Inc. is in the process of working out an agreement with the U.K.
licensee in conjunction with its openings. Dave Corriveau, Co-
founder of Dave and Buster's commented; "The CyberPak represents a
new look and higher level of performance in virtual reality
gaming.
We are pleased to be able to make the CyberPak available to our
guests."
Outer Edge CEO, Mr. Raghu Rao states; "We are very pleased to be
associated with and have our products as a part of the Dave and
Buster's centers. We look forward to our relationship and working
with them into the future as their growth demands."
OuterEdge and Virtual Images are aggressively moving forward
developing virtual reality systems and other related innovative
technologies. Future and concurrent plans include the development
and release of products incorporating virtual reality games via
the internet, 3-D Immersive Theater, real-time simulation
incorporating motion, and custom virtual reality software.
The number of shares outstanding is 73,009,133.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Outer Edge Inc.
(416) 360-7165 |
