CRNC news
(BSNS WIRE) Chronicle Communications Debuts Revolutionary E-Commerce & E
Chronicle Communications Debuts Revolutionary E-Commerce & E-Service Web Site:
GOTCASHBACK.COM
Business Editors/High-Tech Writers
TAMPA, Fla.--(BUSINESS WIRE)--Aug. 2, 1999--Chronicle
Communications, Inc., Tampa, Florida. (OTCBB:CRNC) announced today
that the Company has introduced a one-of-its-kind E-commerce and
E-service site on the World Wide Web at gotcashback.com.
With the click of a mouse button, the home buyer and the seller
can qualify to receive a cash rebate immediately after the closing of
their real estate transaction. Refinancing can also produce a cash
rebate to the home owner. All this and more will be available at
www.gotcashback.com.
The home buyer or seller visiting gotcashback.com will be matched
with a top producing real estate professional, a mortgage banker, a
title insurance company, a moving company, a home inspector and a home
owners insurance agent. Without moving from in front of their
computer, home buyers, sellers and owners can utilize
gotcashback.com's services entirely free and qualify for cash rebates
on each element of their real estate transaction or refinancing.
Gotcashback.com will also offer home furnishing and related
products to all home owners and renters at deeply discounted prices
through strategic affiliates.
Chronicle intends to establish itself as a leading provider of
services and goods on the Internet.
Chronicle is launching its gotcashback.com service in the Greater
Washington, D.C. metropolitan area, including Maryland and Virginia
suburbs. This market is the top residential real estate market in the
nation with the highest pre capita Internet usage. Gotcashback.com
will be supported with an extensive media campaign to educate
consumers and real estate professionals, including advertising on the
Internet and on radio, television and print. Subsequently, Chronicle
plans to expand its E-commerce and E-services into additional markets
nationally, all supported by major advertising campaigns.
Mr. Whitman, Chronicle's chairman, said, "I view this launch as
an important component of changing Chronicle into a fully integrated
media and Internet player, with operations encompassing printing,
publishing and Internet related services. This step comes after
extensive market analysis. We expect gotcashback.com to revolutionize
the way consumers deal with residential real estate transactions and
purchases of home related products and services. Not only have we
created an easy-to-use, one stop destination for the home buyer,
seller and owner, we are providing them cash back and significant
discounts. I am pleased on behalf of Chronicle to introduce
gotcashback.com as the first of several E-commerce and E-service sites
Chronicle plans to phase in during the months to come."
Chronicle has issued 125,000 shares of its common stock in the
acquisition of seventy percent of Gotcashback.com, Inc., a development
stage company.
Chronicle Communications, Inc. is a fully reporting, publicly
traded company quoted on the OTC Bulletin Board under the symbol of
"CRNC." The Company, founded in 1996 and headquartered in Tampa,
Florida, operates a commercial web-offset printing plant in Tampa.
Chronicle is the publisher of "The Register," the only comprehensive
directory of new home builders' inventory homes available in the
greater Washington D.C. Metropolitan area. The Register is published
23 times per year with separate editions for Maryland and for
Virginia. The company is expanding through capital improvements to its
printing operations. Bella, Hermida, Gillman, Hancock & Mueller CPAs
are currently performing Chronicle's September 30, 1998 audit.
Chronicle believes its 1998 10K will be filed in early August, 1999.
Chronicle expects to be current with all of its filings by the
November, 1999 OTC:BB eligibility phase-in. Complete information,
including links to the SEC's EDGAR database, can be found at
Chronicle's web site at chronicleinc.com.
Special Note: Management believes certain statements in this
press release may constitute "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements are made on the basis of management's views and assumptions
regarding future events and business performance as of the time the
statements are made. Actual results may differ materially from those
expressed or implied. Such differences may result from actions taken
by the company prior to its current fiscal year end, as well as from
developments beyond the company's control, including changes in global
economic conditions that may, among other things, affect the
performance of the company's printing and publishing business,
anticipated acquisitions or future business. In addition, changes in
domestic competitive and economic conditions may also affect
performance of all significant company businesses. SOURCE Chronicle
Communications, Inc.
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CONTACT: Chronicle Communications, Inc.
Lori Riscile, 813/248-0100
invrel@chronicleinc.com
KEYWORD: FLORIDA VIRGINIA MARYLAND DISTRICT OF COLUMBIA
INDUSTRY KEYWORD: INTERACTIVE/MULTIMEDIA/INTERNET REAL ESTATE
PUBLISHING
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