To: Leigh McBain who wrote (249 ) 5/5/1999 4:08:00 PM From: Clark Kent Respond to of 313
If these guys can find an opportunity then so should Bomax. I'm not trying to spam here Leigh, just hoping this gives our guys some ideas. Think Global.....think gamble..... FOR FURTHER INFORMATION PLEASE CONTACT: Contiki Resources Ltd. D. Neil Briggs Director (604) 687-7178 or 1-888-244-6644 (toll free) (604) 687-7179 (FAX) Website: www.contikiresources.com Email: info@contikiresources.com No Stock Exchange has Approved or Disapproved The Information Contained Herein. -------------------------------------------------------------------------------- NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: CONTIKI RESOURCES LTD. VSE SYMBOL: TKI MAY 5, 1999 Contiki Resources: Acquisition of Internet Soccer Gambling Business VANCOUVER, BRITISH COLUMBIA--Contiki Resources Ltd. is pleased to announce that it intends to enter the Internet soccer gambling business through the acquisition of GoldenGoals.com. Betting on soccer games is a very large business in the UK, estimated at over pounds/sterling 500 million ($1.2 billion) annually. GoldenGoals.com will offer an easy, low cost, fun way to win big prizes by predicting English Premier League Soccer scores. The guaranteed top prize of pounds/sterling 1 million ($2.4 million) is expected to attract many players. Other prizes will be paid as a portion of the pool of stakes collected. GoldenGoals.com operations will be based in the UK and designed to attract English Premier League soccer fans worldwide. The business will be fully licensed and regulated by the British Government. Contiki has entered into an agreement with Alternative Card Company Ltd. ("Alternative") and its shareholders to acquire all of the issued and outstanding voting shares of Alternative from the existing shareholders. Alternative is a UK company that owns the GoldenGoals.com business and holds a license from the British Government to conduct online Internet gaming based on sporting events. Contiki will pay the following to acquire the Alternative shares: 1. 3,750,000 common shares of Contiki to be held in escrow and earned out on the basis of one share for every $0.25 of net cash flow generated by the Internet gaming website; and 2. a royalty of 7 percent of gross revenues earned by the Internet gaming website, less all general and administrative expenses. The acquisition is subject to a number of conditions precedent, including satisfactory due diligence, VSE approval and Contiki raising sufficient capital for past and future development and operational expenses. A finders fee will be paid, with respect to the transaction, within the VSE guidelines. ON BEHALF OF THE BOARD D. Neil Briggs, Director -30-