To: Jean-Robert Grenier who wrote (30 ) 12/23/1999 11:54:00 AM From: Hudson Read Replies (1) | Respond to of 38
NETgraphe acquires interest in NeoSim NETgraphe Inc WWW Shares issued 83,401,241 Dec 22 close $4.85 Thu 23 Dec 99 News Release Mr. Yves Doucet reports Netgraphe has acquired a majority interest of 75 per cent in NeoSim Inc., creator and owner of revenues which come, for a large part, from e-commerce. The amount of this transaction reaches $4.5-million, or $3-million in working capital for NeoSim and $1.5-million paid directly to the company's shareholders-founders (half in cash and the other half in Netgraphe shares at $4.25 per share). "This transaction fits in perfectly with the business vision we are pursuing, explains chief executive officer, Normand Drolet. NeoSim is a company that gets, through a unique business pattern, the majority of its revenues from its Internet activities. Its leaders were able to use the power of Internet to develop an original solution making recruiting and job hunting easier. Already, the recru-direct.com site enjoys an excellent reputation for the quality and efficiency of its service." A recruiting tool specialized in the information technologies and multimedia sectors, recru-direct.com has rapidly distinguished itself by its rigorous approach favouring the establishment of very efficient links between professionals and companies. Recru-Direct's success is also attributed to the quality of the business partnerships established by NeoSim, particularly with La Presse, career ads market leader in Quebec with its careers and professions section. In its first two years, the site has served over 200 companies looking for resources to complete their staff, while over 25,000 professionals registered into its data bank. The number of on-site transactions is constantly on the rise and the company anticipates revenues for the current year to exceed the $1-million mark. "For our part, the arrival of Netgraphe as principal shareholder brings the necessary strength to pursue the development of our services, adds NeoSim president, Andre Forest. The idea of joining a solid business network that includes among others La Toile du Quebec, InfiniT, TVA and Videotron creates a lot of enthusiasm. So, we intend on profiting from this support to accelerate the implementation of our plan of action and apply our recruiting pattern to other employment sectors. In fact, recu-direct.com will soon cover all employment sectors, and two of these -- engineering and information and multimedia technologies -- will be covered in the same in-depth manner that has helped us differentiate ourselves up to now."