Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : WV-VSE WAVVE.COM -- Ignore unavailable to you. Want to Upgrade?

To: Postman who wrote (75)	12/6/1999 6:50:00 PM
From: Lalit Jain	Read Replies (1) \| Respond to of 169

TORONTO, Dec. 6 /CNW/ - Wavve Telecommunications, Inc. ("Wavve") announced today that it will accelerate its European expansion plans due to the high demand for and expected growth of Internet data services abroad, by establishing a separate vehicle to obtain financing and commence operations in Europe. For that purpose, Wavve has incorporated an Irish subsidiary and has entered into negotiations to effect a private placement of Wavve Europe's shares with a European brokerage firm. The private placement, which is subject to agreement on price, is expected to close in February, 2000 and would result in Wavve retaining majority control. Robert Ingraham, Wavve's President and COO stated "Expansion into Europe is a logical step in the growth of Wavve and makes sense in terms of the opportunities presented by Europe's rapidly expanding e-Commerce market. Establishing a presence in Europe now allows Wavve the opportunity to entrench itself before other companies can gain a toehold in the important European market, and the financing allows Wavve to accomplish this without committing its own resources to such expansion." Wavve also provided a further update of its operations. It has advanced its pursuit of its previously announced initiative with two major Competitive Local Exchange Carriers ("CLECs") concerning a partnering arrangement whereby Wavve would provide co-location space, management and other services to the CLEC in selected cities throughout the USA in exchange for the CLEC's agreement to occupy a guaranteed percentage of space in each co-location facility established by Wavve pursuant to the agreement. The initiative essentially allows the CLECs to private label Wavve's data centres and e-Commerce applications for down-stream sale to their own customers. These agreements, if executed, would have the potential to advance the timing of Wavve's expansion throughout the USA. Mr. Ingraham also mentioned that Wavve is beginning to receive substantial industry coverage in the USA, thereby sparking investment interest. For example, Comstock's Magazine, an influential Northern California business magazine recently ran a cover story on Wavve's business. In the USA, Wavve continues to sign up new agreements and pursue its business strategy. The Company expects to shortly execute a lease on its Portland location and begin construction shortly thereafter. To learn more about Wavve Telecommunications, Inc. on line via the World Wide Web, access www.wavve.com. NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN. -30- For further information: For press inquiries: Andrew Kaplan, Barry Kaplan Associates, 623 River Road, Fair Haven, New Jersey, 07704, Tel: (732) 747-0702, Fax: (732) 758-1837, e-mail: smallkap@aol.com; To contact Wavve: Desiree Hennessy, Wavve Telecommunications, Inc., 9332 Tech Center Drive, Suite 200, Sacramento, California, 95826, Tel: (916) 362-2224, Fax: (916) 362-2226, e-mail: dhennessy@wavve.com