GSIC ALERT- NEWS OUT
THE GENERAL STORE ANNOUNCES FINANCING
SEATTLE, WASHINGTON -Mr. Glen Easthope CEO of The General Store
International Corp. 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.
GSIC is a grocery/various goods delivery company that has been operating at a profit in
Canada. You can order goods, and many other things, via the phone, modem, fax, or
CARAT system, which is their device that can hook up to your tv and acts as a mini
computer, DVD player and interactive ordering system. They are expanding the services
they offer to things such as vacations, etc. They have had a rough past. They had
originally planned to expand into the United States this year, starting in Seattle, but ran into
trouble when:
Their financing blew up in their face, and were victims of the infamous superstock scam
promotion company who blew their shares out on the market. If you look at their chart, it
isn't pretty. From about 3.5 to .045. But this is yours and mine opportunity. Why?
There are several very positive announcements that are due to come out over the next
few days. Foremost, completion of funding is imminent. (AND HERE IT IS!)
Additionally, they have completed
a UFOC which allows them to set up franchise opportunities in various states with in the
US. When this occurs, Seattle will be the first city to come on line. Additionally they have
received serious interest from parties in different cities who wish to purchase master
licenses for their cities. When these things occur, additional positive price movement is
inevitable. It is my hope that we can reach the three dollar level again soon. You are
welcome to call gsic at 1-888-252-8288 and speak to kyle werier (head of IR) if you
would like addtional information, or simply would like to confirm what has been listed
above. The web site is at genstore.com, and they have recently been listed in a news
release by CIC research who completed research on etailers. The price is very attractive
right now, and you can see by the last few days volume that knowledge of the
forthcoming news
has been leaking out. |
