April 14, 1999 News Release (SBX):
CD Plus.com Inc. informs Signature Brands that it has entered into an agreement with Double Click Canada and AltaVista Canada
TORONTO, April 14 /CNW/ - On April 6, 1999 Signature Brands signed a letter of intent to acquire CD Plus.com Inc. in an exchange of shares that will result in Signature's current shareholders holding approximately 10% of the equity of the company. The completion of that transaction is still subject to numerous conditions including the signing of a definitive agreement, the approval of the Toronto Stock Exchange and the approval of Signature shareholders.
In the meantime CD Plus.com Inc. continues to develop its business. CD Plus.com Inc. today announced it has signed an exclusive music retailing advertising agreement with Double Click Canada to advertise on the leading internet search engine AltaVista Canada. In addition to AltaVista Canada, the agreement also includes advertising on Billboard.com and other sites within the Double Click network.
''This is just one of many partnerships and advertising arrangements that we have entered into that will help us to consolidate our lead as Canada's major online music retailer,'' said Wayne Albo, Chairman of CD Plus.com Inc. ''As well, it will help us to promote both our web site, www.cdplus.com, that was last upgraded on April 5th, as well as our 100 Canadian store locations. We believe that the multi-channel strategy to offer both a physical retail presence as well as an online presence will be a key to our success in the future as it will allow us the ability to exploit existing supplier relationships for low cost sourcing and selection, reduce marketing costs through cross promotions, and increase our ability to leverage off existing brand presence.''
About CD Plus.com Inc.
CD Plus.com Inc. is a leading Canadian retailer of pre-recorded music and related entertainment products with 100 stores in six provinces and with Canada's leading internet music retail site, www.cdplus.com.
About Double Click Canada and AltaVista Canada
AltaVista Canada was launched on January 14, 1998 as the result of an agreement between TELUS Advertising Services, an operating division of BCT.TELUS Communications, Canada's second largest telecommunications company and The AltaVista Company Search Service, owned by Compaq Computer Corporation. The technology behind AltaVista Canada was developed jointly by TELUS, InterDynamix Corporation of Edmonton and The AltaVista Company. Double Click Canada acts as the authorised international advertising sales agent for both the AltaVista site and for numerous other major web sites.
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For further information: James Fisher, Director, (416) 869-4010 |
