To Jim & 200mph, re - AEP.V
Full Description of Material Change
February 10, 2000
via CDS
Abstract Enterprises Corp. (the 'Company') is pleased to announce that pursuant to its news release and letter of intent, both dated December 30, 1999, that the Company has exercised its option to acquire a 5% interest in the outstanding shares of Tysa Corporation ('Tysa'), a private company in Seattle, Washington for US$70,000. In this regard, the parties have executed and closed a definitive
Share Purchase Agreement dated January 31, 2000 as to the 5% of Tysa, and for which closing the Company has made an expedited filing application with the Exchange. Furthermore, in accordance with the letter of intent, the Company has now been granted an additional option to acquire a further
12.5% interest in the outstanding shares of Tysa for US$100,000 on or before February 28,2000.
Tysa operates a profitable automotive Internet and point-of purchase business in Washington and California under the name Auteo Media (www.auteo.com.) Following a recent expansion into Northern California, Auteo Media combines a unique blend of marketing media and products to consumers and car dealerships, each synergistic, leveraging one to the
other. Tysa's core business involves the collection of vehicle data and onsite digital photographs in order to produce point- of-purchase window labels and internet services to approximately 120 vehicle dealerships in
Washington and California. In addition to Tysa's core business, the Company combines automotive auctions on its website www.bidthatcar.com, and electronic-to-print
classifieds on another of its sites www.autoloco.com. The company also engages in business to business commerce between dealerships attempting to locate and wholesale used vehicles. Auteo Media is growing into a diverse automotive commerce and technology company with plans underway to include automotive telecommunications and e-commerce for vehicle parts and accessories.
CONTACT: TEL: (604) 685-1273 Michael Kinley, Sr. Officer
Abstract Enterprised Corp.
#1095, 555 Burrard Street
Vancouver, B.C. V7X 1M8
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Option Granted
December 30, 1999
via CDS
Abstract Enterprises Corp. (The 'Company') is pleased to announce that it has been granted an option to acquire an interest in the outstanding shares of Tysa Corporation ('Tysa'), a private company in Seattle, Washington as follows:
- 5% of Tysa's common shares for US$70,000
- an option to acquire a further 12.5% interest in Tysa for US$100,000 by February 28, 2000, contingent upon the completion of the
initial 5% acquisition. Following both transactions, the Company would own a 17.5% interest in the common shares of Tysa.
Under the terms of the letter of intent, the Company has until January 31, 2000 to complete the first 5% option. The Company has placed US$70,000 with respect to the first option in trust with legal counsel pending due diligence reviews prior to dosing.
Tysa operates a profitable automotive internet and point-of purchase business in Washington State under the name Auteo Media.
Following a recent expansion into Northern California. Auteo Media combines a unique blend of marketing mediums and products to consumers and car dealerships, each synergistic, leveraging one to the other. Tysa's core business involves the collection of vehicle data and onsite digital photographs in order to produce point-of-purchase window labels as a service to approximately 120 vehicle dealerships in Western Washington.
In addition to the Tysa's core business, combining automotive auctions on bidthatcar.com, e-commerce and electronic-to-print classifieds on autoloco.com, Auteo Media is growing into a diverse automotive commerce and technology company through its main website at www.auteo.com.> All of the above matters remain subject to the Company filing formal notice with the CDNX, which may be filed on an expedited basis, on or before the closing of the above transaction, and therefore remain subject to approval. For
further information contact Michael Kinley at tel:(902) 827-5332; fax: (902) 827-4516; email:
gold@istar.ca.
> CONTACT: TEL: (902) 827-5332 Michael W. Kinley, President and Director
FAX: (902) 827-4516
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Abstract Enterprises Corporate Update
November 25, 1999
via CDS
Abstract Enterprises Corp. (the 'Company) is pleased to provide an update of corporate developments.
The Company continues to pursue the development of its South Erin, Trinidad oil prospect and is encouraged that the recent stabilization of oil prices may assist in our efforts to attract additional financing or other joint venture interest in the project. The previously announced joint venture with Habanero Resources Inc. will not be proceeding.
In other developments, the Company continues to review opportunities in the technology and e-commerce sectors for those situations which have the potential to increase shareholder value. While the transaction contemplated in the letter of intent signed with Worldbrain Corporation announced on June 2, 1999 will not be completed, the Company will aggressively pursue any opportunity that will accomplish that objective while maintaining an acceptable risk profile.
At the request of the Vancouver Stock Exchange, the Company states that it is not aware of any specific reason for recent trading activity in its shares.
CONTACT: TEL: (902) 827-5332 Michael Kinley, President & Director,
FAX: (902) 827-4516 Abstract Enterprises Corp.
E-MAIL:
gold@istar.ca |
