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Gold/Mining/Energy : CRH.V - Consolidated Rich Capital -- Ignore unavailable to you. Want to Upgrade?

To: kidl who wrote (73)	2/18/2000 6:29:00 PM
From: kidl	Respond to of 74

Tropika?s Online Commerce gets $2.7m (U.S.) from Cons Rich Consolidated Rich Capital Corp CRH Shares issued 1,983,726 Sep 13 close $0.24 Fri 18 Feb 2000 News Release See Tropika International Ltd (TPIL) News Release Mr. John Ashbee reports Tropika?s offshore entertainment subsidiary, Online Commerce Inc., has entered into a marketing agreement for three of its on-line casinos www.magic-carpetcasino.com, www.astrobet.com and www.casinoiceberg.com. The arm?s-length agreement, with Consolidated Rich Capital Corporation of Vancouver, will inject $2.7-million (U.S.) over three months into marketing these casinos, using the services of Tropika?s South African subsidiary, APS Marketing. In exchange, Consolidated Rich Capital will receive 50 per cent of net revenues from the three casinos once its investment is recovered. ?From the outset, Online Commerce Inc. has understood the need for concentrated marketing of its casinos,? said John Ashbee, chairman and chief executive officer of Tropika. ?As the industry becomes better populated, the need for marketing obviously increases, and this agreement gives Online Commerce?s casinos an edge. In addition, the readiness of outside parties to participate in Tropika?s early-stage ventures offers independent validation of our track record as an Internet incubator. This joint venture enables both parties to benefit from growth in an expanding industry.? Well-known Bear Stearns analyst, Jason Ader, estimates that total on-line wagers could grow from $1.2-billion (U.S.) in 1999 to $3.0-billion (U.S.) by 2002. ?We see this arrangement as a tightly focused burst-marketing strategy,? said David Prue, Tropika?s vice president, business development. ?Essentially, the agreement provides the casinos with additional marketing funds without any dilution of Tropika?s stock. There is a tremendous advantage in this partnership, since these dedicated marketing funds will enable the casinos to enjoy the kind of strong growth that we know is possible. This is a win-win situation, and we hope to work with the management of Consolidated on the marketing of future Web-based initiatives.? Peter Wilson, marketing manager at APS, believes that this cash injection represents a significant step forward in positioning the three casinos as leaders in the field of on-line gaming. ?We pride ourselves on the quality and credibility of the marketing services that we offer,? he said. ?This substantial investment will enable us to be aggressive in communicating within an increasingly competitive marketplace.? ¸ Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com