Stock Watcher's Thread / Pix of the Week (POW) Message Board

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Strategies & Market Trends : Stock Watcher's Thread / Pix of the Week (POW)

VEEV 244.06

-9.8%

Nov 21 9:30 AM EST

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To: Stock Watcher who wrote (368)	1/21/1999 5:05:00 PM
From: Taki	Read Replies (1) of 52051

The General Store Announces Financing PR Newswire - January 21, 1999 16:53 SEATTLE, Jan. 21 /PRNewswire/ -- Mr. Glen Easthope CEO of The General Store International Corp. (OTC Bulletin Board: GSIC) is pleased to announced today that it has completed its 504 offering to raise seven hundred thousand dollars ($700,000). The proceeds of this offering will be used to further expand the companies national and international operations, as well as technology product development known as CARAT. This is the company's proprietary convergence technology combining home entertainment and on-line shopping. The proceeds will also be used to pursue business opportunities such as the sales and licensing of national and international Master Franchises, subject to the approval of the General Store's Uniform Franchise Offering Circular (UFOC). This application is currently in process. Mr. Easthope expects that revenue generated from franchise sales in both Seattle and Vancouver will be significant enough to further expand into a number of additional cities in 1999. There have been changes to the reporting requirements of the NASD OTC - BB companies as of January 1, 1999 as announced by the SEC. The company is currently preparing to make filings pursuant to Sections 13 and 15 (d) of the Securities Act. This will ensure that the company is in compliance with the new reporting requirements. The General Store is a home shopping delivery service that incorporates the same technologies of E-commerce and on-line shopping that have made other E-tailers so successful like EBAY and Amazon.com. The General Store has gone a step beyond the typical Internet based concept by developing Convergence Hardware that appeals to individuals looking for an Internet alternative yet it remains as simple as placing a phone call for the "technologically challenged." The statements made in this News Release may contain certain forward looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company. SOURCE The General Store International Corp. /CONTACT: Kyle Werier, Investor Relations of General Store International Corp., 888-252-8288/ /Web site: genstore.com (GSIC)

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