To: Joe Copia who wrote (16919 ) 6/22/1999 9:09:00 PM From: Vision21 Respond to of 25711
News out on FFAX they are going internet. More news to follow soon. June 22, 1999 05:41 PM TORONTO--(BUSINESS WIRE)--June 22, 1999--Frefax Inc. ("Frefax") FFAX Tuesday announced that it has initiated negotiations to purchase a controlling interest in G5 Media Group Inc. ("G5") a New York-based integrated Internet Service Provider and marketing company specializing in e-commerce, advertising and content media. This will assist Frefax in becoming an integrated communications company in Canada and the United States. G5's strategic objectives are to capitalize on three converging opportunities namely e-commerce, advertising and content/media. The company's objective is to develop an advertising network consisting of second and third tier consumer and business to business web sites. It will offer its clients media buying services as well as comprehensive Internet marketing solutions. The company will generate revenues by selling advertising inventory on behalf of websites in its network, renting target "Opt-in" e-mail lists and will generate fees from advertisers for creative services and consulting. In addition to banner advertising sales G5 will develop an "Opt-in" e-mail database. This database will consist of subscribers who have elected to receive various offers via e-mail. The company plans to rent these lists to potential advertisers as well as use them to make its own e-commerce offers. G5 will also develop specialized content sites which will become ideal vehicles for its advertising clients as well as its proprietary e-commerce initiatives. Frefax feels that this acquisition will allow it to be a more diversified communications company that will be instrumental in launching its program to enter the US with its proprietary fax technology. Frefax has proven technology which eliminates the high cost of fax transmission by up to 50 percent or more. The Frefax system is connected to the customer's fax machines which routes calls through its node (Controller) at its Hub, providing the customer with virtually unlimited "free" faxing to destinations throughout North America. This release may contain forward-looking statements that involve risks and uncertainties, including with limitation, continued acceptance of the company's products and services, increased levels of competition, products and technology changes, the company's dependence on financing, third-party suppliers and property rights, and other risks detailed from time to time in the company's federal filing, annual reports, offering memorandum and prospectus.