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Microcap & Penny Stocks : JAWS Technologies - NASDAQ (NM):JAWZ -- Ignore unavailable to you. Want to Upgrade?

To: WHL who wrote (2626)	11/2/1999 8:25:00 AM
From: evergreen	Read Replies (1) \| Respond to of 3086

NEWS!!!! JAWS Technologies Inc. Announces Acquisition of Toronto-Based PACE Systems Group PR Newswire - November 02, 1999 02:15 'JAWS to Enter International Financial Information Technology Markets' TORONTO, Nov. 2 /PRNewswire/ --JAWS Technologies Inc. (OTC Bulletin Board: JAWZ) announced today that it intends to acquire Toronto-based PACE Systems Group Inc. PACE is a successful, private company founded in 1985 with an impressive history of providing financial information technology security solutions to some of the largest financial organizations in North America and Europe. "The acquisition of PACE provides an excellent opportunity for JAWS Technologies to apply our professional information security services (ISS) model directly within the financial markets," said Robert Kubbernus, Chairman and CEO, JAWS Technologies Inc. "PACE brings us 16 of Canada's most highly qualified financial information and technology specialists who have developed excellent relationships with clients including several major Canadian and international banks, Sun Life Trust, Interac Association, ING DIRECT, SNS Assure, Future Shop, Grand&Toy, ISM (Vienna Stock Exchange) and IBM in the development of software for the Toronto Stock Exchange's trading system, said Kubbernus. In the terms of the acquisition, JAWS will issue up to a maximum of 1.7 million shares over the next two years at an issue price of $1.70 per share. The terms of the purchase also include performance targets and retention contracts for key PACE employees. "JAWS' new sales office in Toronto will be immediately incorporated into the PACE structure, however, the combined entity will be integrated under the JAWS' identity," said Kubbernus. "We are at a very exciting juncture in JAWS' growth plan and look forward to working with our new employees and clients." It is anticipated that the acquisition of PACE should immediately allow for a $2 million annualized increase in JAWS' revenue not including the advantages given to new sales of JAWS products and services which will be generated through this acquisition. "Over the past twelve months I have been investigating the right opportunities to allow PACE to effectively meet the demands of our customers," said Peter Labrinos, President, PACE Systems Group. "With the dramatic increase in worldwide demand for information security services, we needed to find a strong and aggressive partner to help us meet 50% year-over-year growth projections. In JAWS, we found an ideal combination of services, products and current relationships that will allow us together, to compete as a significant North American and international information security services company." About JAWS Technologies JAWS Technologies has quickly become a world leader in the provision of information security technology products and consulting services. JAWS Technologies is based in Calgary, Canada and has offices in Toronto, Canada and Pasadena, California, USA. Throughout the world JAWS Technologies now has over twenty strategic partners, approximately 100 corporate clients, over 300 authorized re-sellers and has distributed approximately 550,000 copies of JAWS XMail. JAWS Technologies is currently traded on the NASD-OTC BB, under the symbol JAWZ. For more information, visit the company's website at www.jawstech.com or call 1-888-301-5297. Forward-looking statements and comments in this press release are made pursuant to safe harbor provisions of the Securities Exchange Act of 1934. Such statements relating to, among other things, the prospects for the companies to complete the transaction and enhance operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature. These risks may be further discussed in periodic reports and registration statements to be filed by the Company form time to time with the Securities and Exchange Commission in the future. SOURCE JAWS Technologies Inc. /CONTACT: Kerklan (Kerk) T. Hilton of JAWS Technologies Inc., 888-301-5297, or 403-508-5055, or khilton@jawstech.com/ /Web site: jawstech.com (JAWZ)