Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: jopawa who wrote (51960)	2/4/1999 1:10:00 PM
From: Brett Fleischman	Respond to of 119973

TPEG The Producers Entertainment Group to Purchase Equity Interest in flowersandgifts.com. LOS ANGELES, Feb. 4 /PRNewswire/ -- The Producers Entertainment Group Ltd. (Nasdaq: TPEG - news; BSE: TPG - news), has announced the purchase of an equity interest and has entered into a Letter of Intent to acquire additional equity in flowersandgifts.com. This is the first in an initiative to position TPEG as a significant Internet e-commerce participant. flowersandgifts.com, a Minneapolis based firm, has developed a proprietary e-commerce technology that will be used to gain rapid coverage of the floral and gift Internet market through a network of storefronts across the Web. It is anticipated that the flowersandgifts.com nationally promoted consumer site will go on-line February 20, 1999. flowersandgifts.com has assembled a group of world-class partners to develop its unique master web site engine. Through established relationships with AFS, FTD and Teleflora, flowersandgifts.com will be able to immediately deliver flowers and gifts worldwide with a network of over 50,000 floral shops throughout the world. In 1997 revenues in the U.S. flower industry were $15 billion. According to Irwin Meyer, CEO of TPEG, ''As a part of our recently announced corporate restructuring, TPEG will not only bring equity to flowersandgifts.com, it also plans to work with management in developing various cross promotions for their web site, implementing their marketing strategy and developing strategic alliances to implement their business plan. Our goal is not to simply acquire, but to be a key partner in helping guarantee the strength of our investments.'' Don Rosacker, President/CEO of flowersandgifts.com stated, ''We look at this unique partnership as a great opportunity. When a firm such as ours gains an equity partner such as TPEG, with many years of experience in the entertainment industry, which is also a public company, it brings with it so much additional added value, it makes us feel that much more optimistic about the future success of our company.'' flowersandgifts.com was introduced to TPEG by Strategic Capital Consultants, a firm retained by TPEG to identify acquisition/investment opportunities. Strategic Capital Consultants believes the unique business model developed by flowersandgifts.com, combined with the partnership with TPEG, will position the company to enter the e-commerce industry with an ongoing business. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements relate to, among other things consummation of this equity investment. These forward-looking statements involve risks and uncertainties. A number of factors could cause actual results to differ from those indicated in the forward-looking statements, including the failure to conclude this equity investment. This and other risk factors are discussed in the Company's filings with the Securities and Exchange Commission (including the Company's Annual Report on Form 10-SB). The Company undertakes no obligation to publicly update or revise and forward-looking statements whether as a result of new information, future events or otherwise. SOURCE: The Producers Entertainment Group