CULE news...judging from your post, you already knew about it...
How did you know, was it in the conference call? Thanks!!
Message 8369175
Cool Entertainment, Inc.
10900 NE 8th Street, Suite 900, Bellevue, WA 98004
Corporate Office: 425.688.2997
Investor Relations: 888.603.8833
NEWS RELEASE March 17, 1999
coolent.com Signs Distribution Agreement With
Astral Communications For Internet Sales
Denver, Colorado. March 17, 1999. Cool Entertainment Inc. (OTC BB: CULE) is pleased to announce a three-year distribution agreement with Astral Communications (TSE: ACM.A/ACM.B) which will allow “Cool Entertainment” to distribute DVDs, video cassettes and audio CDs on the Internet. Astral has established itself as one of the leading Canadian distributors and marketers of entertainment products, reporting annual sales last year of $326 million.
“With the rapid growth in ecommerce, and over 50 million users currently online, the demand for quality products also increases,” says Cool Entertainment president Clement Lau. “Our agreement with Astral will prove invaluable -- enabling us to expand our entertainment product selection to online consumers.”
According to Forrester Research of Cambridge, online retail sales in 1998 were approximately $4.8 billion, double the total in 1997. By 2001, the firm predicts online revenues to increase to $17.1 billion.
Cool Entertainment management plans to develop a comprehensive, entertainment retail website offering a wide range of products including books, CDs, DVDs, videos and video games. The website will also contain value-added services including celebrity interviews, book reviews, online chat rooms, online games, and free email accounts. Cool management is currently exploring various distribution networks in Europe, Asia, Australia and Latin America.
This press release may contain forward-looking statements made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, subscriber growth, product demand, competition, and other risks and uncertainties detailed from time to time in the Company's periodic reports. |
