Jalcree...Maybe you need glasses... here is the nr:
Mr. Paul Romanchuk reports
Sikaman has signed a letter of intent to acquire 100 per cent of the outstanding
shares of 1315986 Ontario Corp., which includes NorstarMall.ca and E-Vision
Interactive in exchange for 10 million common shares of Sikaman at a price of 10
cents. Sikaman expects to complete this acquisition by June 30, 1999, after
completing the necessary due diligence.
NorstarMall.ca will be Canada's first broadcast Internet mall, which will provide
on-line buyers with an e-commerce hub site that will allow Canadian on-line
shoppers to purchase goods from a wide variety of nationally recognized brand
name retailers. The mall is set to open on Canada Day, July 1, 1999, and has
already confirmed tenants, including: Chapters.ca (books, DVD's, music and
videos), Coca-Cola Collectibles, Starter Athletics, Detroit Tigers, CDNet,
Central Direct Computers, Software Online Canada and Vision Direct Canada.
Many other nationally renowned retailers, representing a comprehensive array of
retail outlets, have also indicated its interest in participating in NorstarMall.ca and
are currently in negotiations with NorstarMall. In short, NorstarMall's tenants will
be a who's who of Canadian Internet commerce.
The primary objective at NorstarMall.ca is to provide an appealing mall Web site
offering an unparalleled Internet retail experience with many user benefits and
attractive features. NorstarMall.ca will become an e-commerce destination rich
with consumer friendly features on its active desktop/marketplace including a
rewards program, gift registry reminder and free E-mail. NorstarMall.ca will make
extensive use of broadcast media with direct television advertising on major
national, regional and specialty networks.
Lucie Macoritti, president and chief executive officer of NorstarMall.ca along with
Dave Machika, chief technical officer, have been involved in developing this
project from the initial concept approximately two years ago. Both Ms. Macoritti
and Mr. Machika will continue in their respective positions as the company enters
the final marketing stage with the goal of establishing the premier Canadian E-mall.
E-Vision, another division of 1315986 Ontario Corp., provides Web site design,
construction, hosting and management services to a number of independent
corporations. After closing, 1315986 Ontario Corp. will continue to operate as a
wholly owned subsidiary of Sikaman.
Based upon the previous announcement of Sikaman to pursue several high
technology and Internet-related opportunities, Mr. Paul Romanchuk, chairman of
Sikaman, indicated that the NorstarMall/E-Vision Internet opportunity was one of
the most developed and highest quality Internet projects by any e-commerce
industry standards. Based upon the capability of the staff of NorstarMall/E-Vision
indicated by this project, Mr. Romanuck expected that this operation could form
the basis to develop a significantly more expanded e-commerce business.
Mr. Romanchuk also indicated that Sikaman was continuing to evaluate several
other high technology projects and Internet-related opportunities. Mr. Romanchuk
and the board of directors of Sikaman would like to emphasize that there are no
assurances that any discussions relating to high technology or Internet-related
projects will result in definitive agreements or that the transactions under
consideration will be completed. |
