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.

Gold/Mining/Energy : Valu-Net Corp (VNE on ASE - was Faymar) -- Ignore unavailable to you. Want to Upgrade?

To: hugh thorne who wrote (823)	3/16/1999 9:37:00 AM
From: Paul Dhaliwal	Respond to of 974

Valu-Net And Globenet Sign Global Electronic Commerce Agreement MARKHAM, ONTARIO--Valu-net Corporation today announced the signing of an electronic commerce agreement with GlobeNet Communications Limited ("GlobeNet"), a wholly owned subsidiary of GlobeNet Communications Group Limited (BSX: GLOCOM). The companies will collaborate to provide electronic transaction capabilities and Internet marketing to merchant websites via the Internet using the international facilities-based network of GlobeNet and its affiliates. The agreement capitalizes on Valu-net's ability to deliver Internet marketing and electronic commerce services, and GlobeNet's Bermuda-based network facilities and provisioning capabilities. "Our companies intend to give merchants the best of both worlds - secure electronic commerce expertise, coupled with the most technologically advanced network infrastructure available," said Mr. David Lucatch, President and CEO of Valu-net Corporation. "We believe this agreement gives global merchants an unbeatable Internet electronic commerce solution." "The GlobeNet Network allows merchants to access complete Internet marketing services, while providing a stable, offshore operating environment utilizing state of the art network infrastructure," added Mr. Michael Kedar, Chairman and CEO of GlobeNet Communications Group Limited. The foundation for this agreement between Valu-net and GlobeNet is the understanding that Valu-net will provide merchants with electronic commerce services including: - merchant sales and marketing; - "cybermall" maintenance and enhancement; - secure transaction processing using Valu-net's proprietary CPAC credit card encryption technology; and, - complete website hosting and maintenance services. The initial stage of the program will establish 500 merchant stores online. This number is expected to grow by an additional 1,200 stores every three months until reaching a level of at least 5,000 stores by the end of the first year. Merchants are expected to take advantage of Valu-net's recently announced program offerings, as well as international revenue sharing and fee for service electronic commerce solutions. The parties will also provide complete technical, marketing and electronic commerce solutions for medium and large size organizations. It is expected that testing will begin in the next 90 days and based on full system integration, revenue is expected to begin within 120 days. GlobeNet will provide the network capacity, server maintenance, and secure colocation facilities at its Network Operating Centre in St.David's, Bermuda. GlobeNet's affiliate, TeleBermuda International Limited, operates the BUS-1 fiber optic submarine cable system connecting Bermuda and the U.S. The company is currently developing the Atlantica network which, in its first phase to be completed by December 2000, will comprise approximately 15,000 kilometers of fiber optic cable, with five landing points in four countries, Bermuda, Brazil, Venezuela and the U.S. This advanced network with 1.28 terabits/sec design capacity has the ability to accommodate international business needs well into the 21st century. About GlobeNet GlobeNet, through its affiliate, TeleBermuda Interational Limited, has been providing a full range of international telecommunications services in Bermuda since April, 1997. It now carries over a third of all traffic generated in Bermuda and is rapidly establishing the necessary infrastructure to position the Island as a premiere offshore location for supporting the explosive growth of Internet and e-commerce services. About Valu-net Valu-net Corporation, a publicly traded corporation on the Alberta Stock Exchange, (symbol "VNE") is a leading marketing and technology company providing a complete range of services designed to meet the growing demand for Internet marketing and electronic commerce. Valu-net has established relationships with leading Internet Service Providers and Consumer marketing companies to develop online Consumer and Business applications. Valu-net is also a founding member of The eMerge Alliance (www.emergealliance.org), offering businesses a cost effective, end to end Electronic Commerce Solution. Further information is available through Valu-net's corporate web site at www.vncorp.com /T/ For Valu-net Investor Relations contact: Gary Perkins Phone (905) 889-1711 Toll Free 1-800-225-2744 Fax: (905) 889 - 2511 E-mail - investrelations@vncorp.com For GlobeNet Investor Relations contact: Jeffrey