To: srmen who wrote (17010 ) 4/7/1999 8:43:00 AM From: Alain Read Replies (1) | Respond to of 37507
=======OFF TOPIC========= GEM Apr 6 CLOSE $0.185 PREOPEN at 8h39: 0.24 ------------------ American Gem Corporation - American Gem has reached no agreement on on-line trading business American Gem Corporation GEM Shares issued 104,204,501 1999-04-05 close $0.08 Tuesday Apr 6 1999 Mr. Vic Alboini reports: American Gem Corporation refers to the press release issued on March 15, 1999, (Stockwatch March 16), concerning its plan to sell its sapphires, jewelry and other sapphire-related material over the Internet through its own full service e-commerce Website being developed. The company views the sale of sapphires over the Internet as the first step in the strategic evolution of the company as an Internet e-commerce company. In this regard the company is involved with various parties in the Internet industry in the development of e-commerce Internet businesses and in the acquisition of existing businesses for Internet purposes, including the possible acquisition of a brokerage firm for the development of an on-line trading business. None of these matters have resulted in an agreement and there is no assurance that an agreement will be entered into by the company. The company also refers to its March 15, 1999, press release which indicated that the company would be retiring a $360,000 (U.S.) account payable for $225,000 (U.S.); this has been completed. The company also announced a private placement of $300,000 in its March 15, 1999, press release; the company expects to reduce the size of the private placement to $200,000. The company's assets consist of about 4,000 acres of patented and unpatented acres of land at its mine site in Montana with an estimated resource of 48 million carats of sapphires, over 300,000 carats of cut sapphires, 1,718 kilograms of rough sapphires, jewelry, accounts receivable, equipment, about $25-million (U.S.) in tax losses and listings on the Toronto and Vancouver Stock exchanges. The company has no debt other than $250,000 (U.S.) in accounts payable. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)