May 17, 1999
To Acquire Premier Canadian e commerce Mall
SIKAMAN GOLD RESOURCES LTD ("SKG-T")
- To Acquire Premier Canadian e-commerce Mall
Mr. Paul S. Romanchuk, Chairman and Chief Executive Officer of Sikaman Gold Resources Ltd.
("Sikaman") is very pleased to announce that Sikaman has signed a letter of intent to acquire
100% of the outstanding shares of 1315986 Ontario Corp. ("1315986") , which includes
NorstarMall.ca ("NorstarMall") and E-Vision Interactive ("E-Vision") in exchange for 10,000,000
common shares of Sikaman at a price of $0.10. 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 their
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.
Ms. Lucie Macoritti, President and Chief Executive Officer of NorstarMall.ca along with Mr.
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, he 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.
This transaction is subject to regulatory and Board approvals.
I guess mining and internet do mix..... |
