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Microcap & Penny Stocks : WORLD SPORTS MECHANDISING INC.- WSMI -- Ignore unavailable to you. Want to Upgrade?

To: IceCube who wrote (78)	2/16/2000 8:42:00 PM
From: Mudd	Read Replies (1) \| Respond to of 84

Can anyone explain if this is positive or negative ? Wed, 16 Feb 2000 13:56:41 -0800 > >World Sports and Bee-trade.com financing oversubscribed > >World Sports Merchandising Inc WSMI >Shares issued 39,050,775 Feb 15 close $0.50 >Wed 16 Feb 2000 News Release >Mr. Richard Delguardia reports >World Sports Merchandising's joint venture Bee-Trade.com, an on-line >business-to-business auction, marketing and commerce company, has completed >its initial private financing of $2.5-million (U.S) from the sale of one >million units. >Each initial unit, priced at $2.50 (U.S.) per unit, comprises one common >share in the capital stock of Bee-Trade.com and half of a common share >purchase warrant, exercisable for a period of three years from the date of >issuance at a purchase price of $3.25 (U.S.) per share. In total, one >million shares and 500,000 warrants will be issued. The private offering of >one million units is oversubscribed and Bee-Trade.com is currently >considering the value of placing additional units; however, the final >closing date for this financing will be Feb. 18, 2000. >The capital will be used for alliances, acquisitions, working capital and >the costs of the planned initial public offering of Bee-Trade.com Inc. The >financing also allows the partial repayment of debt to WSMI.com arising >from a previously announced purchase of the Internet Auction Network from >WSMI.com. As announced, Bee-Trade.com will pay the balance of debt to >WSMI.com upon completion of the initial public offering, expected later >this year. >"The oversubscription for the initial offering of Bee-Trade.com has >confirmed what we at WSMI.com already knew," said Richard Deleguardia, >president of WSMI.com, "The Bee-Trade concept is being embraced by the >business community as the leading edge of a new wave of Internet commerce. >This financing allows Bee-Trade.com and WSMI.com to forge the strategic >partnerships that will help us to offer a complete e-solution." >Bee-Trade.com, a joint venture between WSMI.com of Toronto and Cable Print >Network Marketing of Jenkintown, Pa., is the first company on the Internet >to build, license and consolidate e-tail and auction e-commerce Web sites >and provide each site with strong identity through membership, cross >promotions, world-class software and both traditional and on-line >marketing. Bee-Trade.com's mandate is to provide a global forum for >boutique style auction and e-store sites, allowing member bidders to buy, >sell and trade goods and services in a safe and effective environment over >the Internet.