SKG.TO - SIKAMAN TO ACQUIRE AN INTEREST IN CYBERWORLD
PORT PERRY, ONTARIO--
Acquisition stake in web-based 3-D Internet software strengthens
SKG Interactive's position as the leader in developing online
shopping destinations for North Americans
Sikaman Gold Resources Ltd. ("Sikaman") today announced that it
has signed letters of intent to acquire a combined equity interest
of approximately 22% in CYBERWORLD(r) International Corporation
("CYBERWORLD"), a leading developer of web-based 3-D multimedia
technology for the Internet, for a value of approximately US $3.27
Million. Providing the engine for the 3-D NorstarMall.ca, the
equity agreement will provide SKG Interactive with the strategic
alliance that it requires to strengthen its position as a leader
in the delivery of 3-D online retailing destinations to Canada and
the United States. CYBERWORLD(r)ternational Corporation, a
new-media enterprise committed to transforming the Web into an
interactive multimedia experience is ideal for e-commerce and
e-merchandising, offering a visually compelling way to build,
customize, and present interactive 3D worlds.
"Based upon our growing belief in the potential of the Internet
3-D technology, we have concluded that CYBERWORLD's technology has
the ability to catapult our Internet shopping destinations into
the forefront of online retailing in North America. As a result,
we felt that it was imperative to maintain an ownership position
within CYBERWORLD, as we expect NorstarMall.ca to be a showcase
for this interactive 3-D technology." Mr. Romanchuk further
stated that "With the recent improvements to the 3-D technology
and its' NorstarMall.ca application which we expect to launch this
quarter, we feel that we have the ability not only to meet, but
exceed the market expectations for our 3-D interactive shopping
venue."
"It is extremely gratifying that this partnership with Sikaman
Gold Resources Ltd. and NorstarMall.ca should emerge from our
ongoing business relationship," said Keith Soley, CYBERWORLD
President and CEO of CYBERWORLD International Corporation. "This
agreement, from one of our first customers, is an obvious
endorsement of the CYBERWORLD technology and its incredible
potential to transform the web into a true multidimensional,
multimedia e-commerce platform."
CYBERWORLD is currently one of the world leaders and developers of
web-based 3-D multimedia technology. CYBERWORLD is dedicated to
transforming the web into an interactive multimedia experience.
CYBERWORLD provides unique software products that enable
individuals, businesses, organizations, and
communities-of-interest to build fast, interactive, new media
environments for the web. CYBERWORLD is headquartered in Toronto,
Ontario, with offices in Orlando, Florida and Dallas, Texas.
CYBERWORLD's innovative technology is ideal for e-commerce and
e-merchandising, offering companies a visually compelling way to
build, customize, and present multimedia worlds. Users can tap
into CYBERWORLD's easy-to-use 3D visual interface to seamlessly
navigate between 2D and 3D content, including pictures, video and
sound, in one integrated environment.
CYBERWORLD's robust system architecture serves as a platform for
building and incorporating visual and interactive elements into
web environments. Developers can simply layer and paint floors,
ceilings, walls, backgrounds, sounds, and 2D or 3D graphics to
create compelling, multi dimensional, multimedia environments.
Richmond Hill-based, NorstarMall.ca Inc. is a division of SKG
Interactive Inc. (TSE:SKG) and is focused on creating Canada's
premiere e-commerce destination. NorstarMall.ca offers consumers
access to over 160 Canadian e-tailers and over 275 American
e-tailers, all at a single destination. NorstarMall.ca is also
home to Canada's first and only 3-D cybermall which features the
combination of entertainment, information services and brand name
Canadian retailers including Holt Renfrew, Indigo Online, Future
Shop, La Senza Lingerie, Roots Canada, Danier Leather, HMV.com,
and SportMart.ca, creating a uniquely Canadian destination for
online shoppers.
This transaction is subject to regulatory and Board approvals.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Sikaman Gold Resources Ltd.
Investor Relations
(905) 985-9687
(905) 985-8238
Email: investorinquiries@sikaman.com
or
Sikaman Gold Resources Ltd.
websites at sikaman.com
norstarmall.ca
or
Sikaman Gold Resources Ltd.
175 North Street, Suite 104
P.O. Box 869
Port Perry, Ontario L9L 1A7
(905) 985-9687 Fax: (905) 985-8238
Website: sikaman.com |
