Great news for Stockgroup--now SWEB
FOR RELEASE AT 6:30AM EST MAY 19, 1999
STOCKGROUP.COM - (604) 331-0995
Company Contact: Marcus New, Chairman & CEO
marcusn@stockgroup.com
THE MWW GROUP - Public Relations
Investor Contact: Anthony Andora – (201)964-2364
Media Contact: Matt Messinger - (201) 964-2377
aandora@mww.com, mmessing@mww.com
STOCKGROUP.COM FILES APPLICATION FOR NASDAQ
LISTING
Company Completes Private Placement of 150,000
Shares Worth $900,000 USD
Vancouver, May 19, 1999 – Stockgroup.com Holdings Inc. (OTC BB: SWEB), announced today that it has filed an application for listing on the Nasdaq SmallCap Market. Shares of Stockgroup.com's Common Stock currently trade on the OTC Bulletin Board under the ticker symbol “SWEB” and will continue to trade on the OTC Bulletin Board until the Nasdaq listing becomes effective.
“Our move to list on the Nasdaq is a positive reflection of our financial strength and accomplishments,” said Marcus New, Chairman and Chief Executive Officer of Stockgroup.com Holdings, Inc. “Since going public, we have formed strategic partnerships with five major search engine companies and raised $5.4 million, including a $900,000 private placement completed today. Our listing on the Nasdaq is the next logical step in our Company's evolution. It will not only increase Stockgroup.com's visibility in the financial community, but it will also provide shareholders with a more efficient and liquid market to trade our shares.”
As mentioned above, Stockgroup.com today completed a private placement of 150,000 shares at $6.00 per share, or $900,000 USD in aggregate. These shares are deemed “restricted shares” as that term is defined under U.S. securities law.
Stockgroup.com plans to use the proceeds of the private placement primarily to further develop the ‘next generation' launch of www.stockgroup.com which is presently scheduled for July 1999. In addition, a portion of the proceeds of the private placement will be used for expanding U.S. based operations, advertising and marketing initiatives and for strategic acquisitions.
ABOUT STOCKGROUP.COM
Stockgroup.com was founded in 1995 and has offices in San Francisco, Vancouver, Calgary, and Toronto. Stockgroup.com is a leading provider of Internet financial news and information services. The Company's website, www.stockgroup.com, focuses on the small- and micro-cap markets and is one of the most popular destination Communities on the Internet. In addition to providing news and information, the Company provides Internet development and marketing services to small- and micro-cap companies.
This award-winning investor information Community has gained a loyal following on the Internet and as of April 1999 monthly viewer visits to the Internet community topped 499,000. Stockgroup.com also produces the Small Cap Express, a free daily on-line investment market report, which is distributed, on an 'as requested basis', via E-mail to a wide subscriber base across North America. Since its inception in July 1998, The Small Cap Express has grown from a subscriber base of zero to in excess of 27,000 daily readers.
This release contains "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward looking statements." Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through the use of words such as “expects'”, “will,” “anticipates,” “estimates,” “believes,” or by statements indicating certain actions “may,” “could,” or “might” occur.
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