SOUTH LAKE, TEXAS (April 19) BUSINESS WIRE -April 19, 1999--
Company Announces Management Team and $5.1 Million in Funding
Business Web, Inc., a cyber-developer of Internet real estate, today
announced the management team for the company formed by the anticipated
merger of Business Web and former gold mining company, NEWGOLD, Inc.
(OTC BB:NGLD).
The company also announced it has received $5.1 million in private
placement funding from a group of venture capitalist investors led by
IBK Capital.
The company will retain the name Newgold for the short term. Chris
Meaux, co-founder of Business Web, becomes Newgold's chairman and CEO,
both titles which he held at Business Web. Meaux has more than 14
years of high-tech industry sales, marketing and management experience.
Most recently, Meaux was the director of e-commerce for Network
Associates.
Former Newgold executives will remain with the new combined company.
President Scott Doctor will take on the role of vice-chairman and will
act as senior executive in charge of business relations. Bob Morris
will remain as CFO and Michael Kessler as corporate council.
James Cutburth is now COO and an executive vice president of Business
Web, Inc. and will be responsible for the day-to-day operation of the
company. He will continue his responsibilities as vice president of
sales and marketing as well as GMs from each business unit will now be
reporting to him directly. Cutburth joined the company in 1998 after
20 years of high-tech experience with Rockwell Semiconductor Systems,
Diamond Multimedia, 3Com/US Robotics and Intel.
Jes Engelmann has been appointed GM of the International business unit.
He will be responsible for its day-to-day operations and future
expansion into Latin America, Europe and Asia. Engelmann joined the
organization in March of 1999 as vice president-sales and business
development, with the specific responsibility of developing new and
lasting customer and partner relationships around the world. In this
position, Jes will draw on his more than 16 years of sales and
marketing experience in the communications, CTI and multimedia
industries, including companies such as GeoTel Communications, Paradyne
Corp. and Lucent.
Larry Miller will remain vice president of Support Services and general
manager of CyberMovers.net to lead the company's vital customer service
and product support operation. Miller brings 20 years of high-tech
customer service, operations, sales and support experience to the
department from his work at companies such as Acacia Teleservices
International, Symantec Corporation and Digital Research, Inc.
The software development and network IT support team will be led by
Jeremy Goodell, director of information services and development.
Goodell has 15 years of experience with diverse technology including
Internet/web development, UNIX and NT open systems, client-server
architecture and relational databases. Goodell gained his experience
from ICL North America, InfoGenesis, Quest Software, and as an
independent consultant.
Business Web was founded in 1998 with the launch of its Cybermovers
service. Cybermovers helps companies and individuals move into their
web sites by creating custom front-end templates for easy site updates,
registering the site's domain name, listing the site with the most
popular search engines, helping create a custom look and feel,
including scanned images and links, so the site is ready for the first
visitor and providing support 24 hours a day, seven days a week to
ensure the site's success. In 1999, Business Web launched
BusinessWebNow.com, a service designed for companies requiring
hundreds, thousands or even millions of web sites to service their
customers or business partners more effectively via the net. To date,
companies such as Netscape, Netopia and BellSouth.net have effectively
taken advantage of the Business Web Now technology. Business Web is
currently developing a new, broader Internet and e-commerce offering
which will be the focal point of the Newgold company.
Newgold had been a gold mining company since 1995 until closing the
operation and merging with Business Web. Newgold will exit the mining
industry by divesting itself of its remaining mining assets and
investing those proceeds into the new venture with Business Web. The
Proposed Merger, which involves a proposed 12-for-1 stock consolidation
plan, is subject to shareholder and regulatory approval.
For more information regarding this announcement or the merger of
Newgold and Business Web, please contact James Cutburth at
817/312-5956, jcutburth@businesswebnow.com or Jill Ballo of Imagio
Public Relations at 206/625-0252, jill@imagio.com. For more
information about Business Web, please visit the web site
businessweb.com.
Product and company names herein may be trademarks of their respective
owners.
-0- KS/se*
CONTACT: Business Web
James Cutburth, 817/312-5956
jcutburth@businesswebnow.com
or
Imagio Public Relations
Jill Ballo, 206/625-0252
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