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Technology Stocks : Globalstore.com - GSO on the VSE -- Ignore unavailable to you. Want to Upgrade?

To: Rocket Red who wrote (16)	5/7/1999 11:16:00 AM
From: New Economy	Respond to of 58

The fact that Yorkton did the financing on this one is good 'cause if I may direct everybody's attention to Bid.com. Back in Nov. 1998 Yorkton did some financing for BII for which warrants were issued. Yorkton has an interest to ensure that there is a mkt. for such shares as they have warrants that can be exercised well "IN-Money" if the stock price shoots up. Read the news info. below and go back historically to BII private placement with Yorkton. You will notice the stock sky-rocketed from 1.80 to 3.00 and then hitting a high of 4.95...I will not forget 'cause I accumulated BII during this period, only to find out the day after the last day to exercise the warrants the stock dropped down to 2.30 in mid Dec. 1998. Kuddos to all those investing in SGO ! ! ! Globalstore.com Incorporated - Globalstore.com arranges partnership with Bid.com; $2-million financing Globalstore.com Incorporated GSO Shares issued 5,086,509 1899-12-30 close $0 Thursday Apr 29 1999 Mr. Steven Stout reports Global Ecomm, Ltd., a wholly owned subsidiary of Globalstore.com, has entered into a licensing agreement with Bid.Com Global Ecomm is licensed to use Bid.Com's proprietary Internet auction software, including its patented on-line Dutch auction process, to create the Global Auction Service. Mr. Stout also reports At the meeting of the company's shareholders held earlier this year, the acquisition of Global Ecomm and all related transactions were approved by shareholders. The company has now continued its corporate jurisdiction from British Columbia to Nova Scotia, and has changed its name from Sheffield Resources Inc. to Globalstore.com, Inc. The company has entered into a sponsorship agreement with Yorkton Securities Inc., whereby Yorkton has agreed to sponsor the company's application to the Vancouver Stock Exchange for approval of its acquisition of Global Ecomm and related transactions. To finance the company's new Global Store business, the company, through Yorkton, is offering by way of a private placement, 2,666,667 special warrants at 75 cents each to raise gross proceeds of $2-million. Each special warrant will convert automatically four months after the closing of the private placement into one free trading share and one warrant, subject to the company filing an annual information form prior to such date to qualify such securities. Each warrant will be exercisable to purchase a further share at $1.25 for six months from closing of the private placement. Yorkton will receive a cash commission equal to 5 per cent of the gross proceeds from the sale of the special warrants issued, and will also receive that number of agent's special warrants equal to 10 per cent of the number of special warrants sold. Each agent's special warrant will be convertible into one agent's warrant exercisable for one year from the date of closing of the private placement at 75 cents to acquire one share and, if the agent's warrant is exercised within six months of closing, one warrant. Global Ecomm is a Bermuda based company in the business of selling premium quality merchandise via the Internet. Global Ecomm has just acquired the domain address, www.globalstore.com, and is in the process of setting it up as the primary address at which it shall display merchandise for the Global Store. For the next week, shoppers can visit the Global Store at www.globalstore.net. In the last four months, Global Ecomm has secured agreements with 20 merchants who will offer to sell approximately 15,000 products via the Global Store. Global Ecomm is actively pursuing other relationships. Global Ecomm has entered into a relationship with the Bank of Bermuda which provides Global Ecomm the ability to settle international credit card transactions via the Internet for its vendors. Global Ecomm offers Verisign encryption technology for every purchase of goods via credit card at the Global Store. Edward L. Mercaldo and Victor Wolters have been appointed to the board of directors. Mr. Mercaldo has enjoyed a successful career in the field of international banking and corporate finance with the Bank of Montreal, BT Bank of Canada, First Marathon Securities, and Diamond Field Resources. Mr. Wolters has a solid background in the computer and Internet industries and will enhance the board with his technical expertise. The company has granted incentive options to purchase up to 1,145,000 shares, exercisable for five years, at 75 cents.