If these guys can find an opportunity then so should Bomax. I'm not trying to spam here Leigh, just hoping this gives our guys some ideas.
Think Global.....think gamble.....
FOR FURTHER INFORMATION PLEASE CONTACT:
Contiki Resources Ltd.
D. Neil Briggs
Director
(604) 687-7178 or 1-888-244-6644 (toll free)
(604) 687-7179 (FAX)
Website: www.contikiresources.com
Email: info@contikiresources.com
No Stock Exchange has Approved or Disapproved The Information
Contained Herein.
--------------------------------------------------------------------------------
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: CONTIKI RESOURCES LTD.
VSE SYMBOL: TKI
MAY 5, 1999
Contiki Resources: Acquisition of Internet Soccer
Gambling Business
VANCOUVER, BRITISH COLUMBIA--Contiki Resources Ltd. is pleased to
announce that it intends to enter the Internet soccer gambling
business through the acquisition of GoldenGoals.com. Betting on
soccer games is a very large business in the UK, estimated at over
pounds/sterling 500 million ($1.2 billion) annually.
GoldenGoals.com will offer an easy, low cost, fun way to win big
prizes by predicting English Premier League Soccer scores. The
guaranteed top prize of pounds/sterling 1 million ($2.4 million)
is expected to attract many players. Other prizes will be paid
as a portion of the pool of stakes collected.
GoldenGoals.com operations will be based in the UK and designed to
attract English Premier League soccer fans worldwide. The
business will be fully licensed and regulated by the British
Government.
Contiki has entered into an agreement with Alternative Card
Company Ltd. ("Alternative") and its shareholders to acquire all
of the issued and outstanding voting shares of Alternative from
the existing shareholders. Alternative is a UK company that owns
the GoldenGoals.com business and holds a license from the British
Government to conduct online Internet gaming based on sporting
events.
Contiki will pay the following to acquire the Alternative shares:
1. 3,750,000 common shares of Contiki to be held in escrow and
earned out on the basis of one share for every $0.25 of net cash
flow generated by the Internet gaming website; and
2. a royalty of 7 percent of gross revenues earned by the Internet
gaming website, less all general and administrative expenses.
The acquisition is subject to a number of conditions precedent,
including satisfactory due diligence, VSE approval and Contiki
raising sufficient capital for past and future development and
operational expenses. A finders fee will be paid, with respect to
the transaction, within the VSE guidelines.
ON BEHALF OF THE BOARD
D. Neil Briggs, Director
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