3 news releases
#1
Commercial Consolidators Corp -
Commercial Consolidators/Deloitte & Touche agreement
Commercial Consolidators Corp
CCZ
Shares issued 12,368,333
2000-03-28 close $4.38
Wednesday Mar 29 2000
Mr. Michael Weingarten reports
Commercial Consolidators has entered into an agreement with Deloitte & Touche
Corporate Finance Canada, Inc. to act as its financial advisers and investment
bankers. Deloitte & Touche's first mandate is to arrange 7.5-million (U.S.) to
$10-million (U.S.) of mezzanine equity financing for working capital to support
CCZ's sales growth and acquisition strategy.
(c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com
#2
Commercial Consolidators Corp -
Commercial Consolidators to acquire YAM Wireless
Commercial Consolidators Corp
CCZ
Shares issued 12,368,333
2000-03-28 close $4.38
Wednesday Mar 29 2000
Mr. Michael Weingarten reports
Commercial Consolidators has entered into a definitive agreement to acquire a
100-per-cent interest in YAM International Communications Inc. (YAM
Wireless), a Florida-based wireless company.
Founded in 1994, YAM Wireless is a global provider of wireless/cellular products
focused in the United States, Latin America and Israel. YAM Wireless customers
include leading international network operators and wireless equipment
manufacturers. The company supplies strategic distribution channels that distribute
on behalf of network operators such as Venezuala's largest analogue and digital
carriers, Telecell Venezuala and MobileNet, as well as Israel's national carriers,
Cellcom and Pele-Telephone. Wireless equipment manufacturer clients include
Motorola, Nokia, Ericsson and Samsung.
YAM Wireless is expected to report net after-tax earnings of $1.65-million
(Canadian) ($1.1-million (U.S.)) on sales of approximately $35-million
(Canadian) ($23-million (U.S.)) for the year ending Dec. 31, 1999, and has
realized sales and earnings growth in excess of 100 per cent per year in recent
years.
CCZ has agreed to pay a total of $3.3-million (U.S.) in cash and issue 1.247
million common shares from treasury at a deemed price of $3.75 per share in
consideration for 100 per cent of the issued and outstanding shares of YAM
Wireless, to its two owners, Yossi Vanon and Shanni Sasson. CCZ has also
agreed to enter into employment contracts with Mr. Vanon and Mr. Sasson
whereby CCZ will pay them a total of $250,000 (U.S.) per year in fees and issue
a total of 450,000 stock options (with 150,000 vesting per year) at $3.75 per
share, subject to YAM Wireless attaining mutually agreed upon financial
performance targets.
YAM Wireless is implementing a comprehensive strategic plan to expand its
presence as a dominant fulfilment house and supplier of wireless/cellular products
within both the supply and demand chain of the wireless telecommunications
industry. YAM Wireless helps network operators realize operational efficiencies
by providing outsource solutions and assists wireless equipment manufacturers
with inventory management, fulfilment, marketing support programs, accessory
programs and repair and refurbishment services.
CCZ's chief executive officer, Michael Weingarten, states: "The YAM Wireless
acquisition provides CCZ with diversification into the fast growing wireless and
cellular market sector and enables CCZ to use YAM Wireless' established
presence in the United States, Latin America and Israel to further penetrate such
markets for its own business equipment, consumer electronics and construction
technology product lines. Also, CCZ will be able to introduce new markets and
complementary technologies and product lines to the YAM Wireless customer
base through its existing exclusive relationships with multinational electronics
companies such as Samsung, Sanyo and Phillips as well as its own proprietary,
General Vision product lines. Furthermore, CCZ will use the acquisition of YAM
Wireless cellular and wireless expertise to further develop and expand its own
business-to-business Internet e-commerce strategy throughout Latin America and
elsewhere."
CCZ plans to acquire other synergistic companies to combine its own marketing
and distribution infrastructure and capabilities with leading-edge companies'
technologies, products and services. The agreement is scheduled to close on or
before May 31, 2000, subject to completion of CCZ due diligence and regulatory
approval.
For further information, please contact investor relations at 1-877-660-6146 or
1-800-968-1727 or visit the company's Web site at
www.commercialconsolidator.com.
(c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com
#3
Commercial Consolidators Corp -
Commercial Consolidator to acquire software developer
Commercial Consolidators Corp
CCZ
Shares issued 12,368,333
2000-03-28 close $4.38
Wednesday Mar 29 2000
Mr. Michael Weingarten reports
Commercial Consolidators has entered into an agreement in principle to acquire a
100-per-cent interest in La Societe Desig Inc., a Montreal-based software
developer and information technology company focused on the hospitality sector.
Founded in 1984, Desig is a leading worldwide developer and provider of
property management systems (PMS) for all sizes of hotels and resorts, including
hotel chains such as Delta Hotels, Best Western, Ramada and Radisson. Desig
has over 700 PMS systems installed in more than 24 countries and has a
42-per-cent market share in Eastern Canada. Desig has been ranked as providing
one of the top 10 hospitality solutions by Specialty Magazine and has been ranked
by InfoTech Magazine as having the second-highest growth potential for
Quebec-based information technology companies. Desig reported net after-tax
earnings of $775,500 on sales of $1,951,600 for the year ending Oct. 31, 1999,
and has realized sales and earnings growth in excess of 35 per cent per year in
recent years.
CCZ has agreed to issue a total of 3.1 million common shares from treasury at a
deemed price of $3.75 per share in consideration for 100 per cent of the issued
and outstanding shares of Desig to its owners Victor Noce, Robert Marcoux,
Bertram Boldoc and certain members of their families. CCZ has also agreed to
enter into employment contracts with Mr. Noce, Mr. Marcoux, Mr. Boldoc and
key employees whereby CCZ will pay Mr. Noce and Mr. Marcous $125,000
per year and Mr. Boldoc $125,000 (U.S.) per year, and issue a total of 900,000
stock options at $3.75 per share which will vest as to 300,000 options per year,
subject to Desig attaining mutually agreed upon financial performance targets.
Desig is implementing a comprehensive strategic plan to realize strong growth
within the worldwide hospitality and lodging industry. Firstly, through its U.S.
subsidiary Central Point Technologies Inc., Desig is aggressively penetrating the
United States market with its existing leading edge property management solutions
(PMS) and central reservations solutions (CRS). Secondly, Desig plans to launch
its new Internet-based property management solution at the June HITECH show
in Dallas. This will be one of the first product offerings of its kind in the world and
will allow small- to medium-sized hotels, condominiums, resorts and time-share
organizations, among others to facilitate real-time on-line reservations and
bookings. Desig has already implemented this technology for the Province of
Quebec tourism authority. In conjunction with these initiatives Desig will
commence its business-to-business (B2B) Internet e-commerce strategy through
its own Web site to market its software and Internet-based PMS solutions.
"CCZ believes that the Desig acquisition is highly synergistic in terms of its existing
products, markets and management," states chief executive officer, Michael
Weingarten. "CCZ will use Desig's established presence in Canada, the United
States, Caribbean and Latin American hotel and resort market to further penetrate
such hospitality markets for the company's business equipment, consumer
electronics and construction technology product lines. Also, CCZ will be able to
offer turnkey software and hardware solutions to this significant and rapidly
growing marketplace. Furthermore, CCZ will use the acquisition of this world
class Internet technology expertise to launch its own e-commerce strategy to
further expand its core business in Latin America and elsewhere."
The Desig acquisition significantly enhances CCZ's earnings per share and is
evidence of management's commitment to building value for CCZ shareholders.
CCZ plans to acquire other synergistic companies to combine its own marketing
and distribution infrastructure and capabilities with leading edge companies'
technologies, products and services. The agreement is scheduled to close on or
before May 31, 2000, subject to completion of due diligence by CCZ and
regulatory approval.
(c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com |
