Wednesday March 24, 9:45 am Eastern Time
Company Press Release
SOURCE: Go Call Inc.
Go Call Inc. announces deal valued at $8.5 million
NEW YORK, March 24 /CNW-PRN/ - Go Call Inc. (www.goca.com), (OTC BB: GOCA) announced today that it has acquired Country Star Restaurant, Inc. (OTC BB: KAFE) located at the entrance of Universal Studios in Hollywood, California. Universal Studios Inc. is a subsidiary of Seagram Ltd. (NYSE: VO - news). With this acquisition, Go Call Inc. adds $4.7 million to its asset base and maintains its no debt policy. The 18,000 sq. ft. location at Universal Studios provides Go Call Inc. with exposure to television, music, movie and sports celebrities, and further enhances the development and marketing of Go Call Inc.'s Internet Entertainment divisions.
''While our primary business focus is Internet and E-commerce, we are excited about this acquisition since it generates annual revenues of $2.5 million and is located at the entrance to Universal Studios in Hollywood, California'', stated Go Call Inc. President, Ian Smith. ''The Universal Studios theme park is world-renowned and attracts millions of visitors from around the world each year. This highly visible location creates a tremendous marketing vehicle for us to showcase our products and services. This deal significantly increases Go Call Inc.'s asset base and we believe has very positive implications for shareholder value.
Go Call Inc.'s E-commerce division, which processes transactions for Go Casino.com (www.gocasino.com), has seen its wagering revenues increase fifty fold and total $7,124,814US from September 1998 through February 1999. Wagering revenues are the total amount of funds wagered by the casino players. Gaming research analysts predict on-line gaming to become a US $25 billion market by the year 2002.
Go Call Inc. (OTC BB: GOCA), (www.goca.com) develops, markets and manages secure and profitable operations stemming from Internet Entertainment and E-commerce demand.
The statements in this press release are for informational purposes only. Actual results could differ materially from those anticipated herein as a result of certain circumstances.
SOURCE: Go Call Inc. |
