Rux Resources finalizes licensing agreement with Commercis
Rux Resources Inc RUXR
Shares issued 24,720,799 May 25 close $0.15
Wed 26 May 99 News Release
Mr. Stan Bharti reports:
Rux has entered into a technology licensing agreement with Comercis
(formerly Business Web Inc.) to use proprietary Comercis software for the
natural resource sector. The $3.5-million contract, to be paid from
revenues generated from sales, gives Rux use of Comercis proprietary
technology to sponsor and co-ordinate Internet business communities for the
mining, oil and gas, forestry and petrochemical industries worldwide.
"Comercis Internet technology is uniquely capable of bringing businesses
together online for communication and e-commerce," said Stan Bharti,
chairman of Rux Resources. "We believe the combination of Rux Resources'
industry expertise and Comercis innovative technology will lead to
increased productivity, lower costs and quicker, broader access to
international markets for resource and related service providers."
"Rux Resources' commitment to our unique business to business technology is
the first step in establishing valuable on-line communities in the mining,
oil and gas, and forestry industries," said Chris Meaux, president and
chief executive officer of Comercis. "We're thrilled that Rux Resources has
chosen Comercis technology as the vehicle to create their global community
for the resources industry."
Rux Resources will roll out its natural resources business community in the
coming months as the company shifts its primary focus from the exploration
and mining of precious metals to the interaction of the resource sector
with the Internet and IT industries. The company expects to start
generating revenue later this year and is presently assembling a strong
technical and marketing team. With its Canadian base and background in the
mining sector, Rux is uniquely qualified to market Comercis technology
worldwide. The company has approximately 24 million shares outstanding.
Comercis, based near Dallas, Tex., was founded as Business Web, Inc. in
1997 with the vision of becoming the world's first business to business
cyber community management and development company. With Cybermovers.net,
Comercis and its partners provide small to large businesses with
start-to-finish knowledge and understanding of how to design, create, host
and develop entire Internet communities. Comercis Cybermovers service is
the preferred move-in service for Netopia (Nasdaq: NTPA) Virtual Office
(NVO) Web site owners. Further information is available at
comercis.com. |
