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Microcap & Penny Stocks : General Stores - GSIC -- Ignore unavailable to you. Want to Upgrade?

To: Bob Livesey who wrote (739)	5/27/1999 9:23:00 AM
From: EZ ED	Read Replies (1) \| Respond to of 972

NEWS..(COMTEX) B: The General Store Files Uniform Franchise Offering Circul B: The General Store Files Uniform Franchise Offering Circular SEATTLE (May 27) BUSINESS WIRE -May 27, 1999-- Company to launch their on-line Grocery Franchise throughout the United States. The General Store International Corp. (OTC BB:GSIC) is pleased to announce today that the company has submitted for approval its UFOC (Uniform Franchise Offering Circular) application to the State of Washington. The UFOC is a detailed disclosure document required by federal and state regulators prior to the establishment of franchises in the United States. "The General Store, as part of its business plan strategy for rapid growth throughout the United States, intends to offer for sale Area Franchises," said General Store CEO Glen Easthope. "A franchise allows an individual to purchase a region or multiple regions (neighborhoods) for exclusive sale and service of home delivery groceries and products utilizing The General Store brand and online product network." The General Store submitted the UFOC filing to the State of Washington Department of Financial Institutions on May 12, 1999. The Administrator for the State of Washington has, by their process, 15 business days to review all submitted materials for compliance with state law. The General Store is not required to gain formal approval from any federal agency other than the full compliance of the Uniform Franchise Offering Circular. Upon completion and final approval from the State of Washington, the General Store intends to immediately file the necessary documentation in all states requiring formal approval. As a result of the completion and compliance of the UFOC, The General Store is immediately eligible to offer franchises in the following states: Massachusetts, Colorado, New Mexico, Pennsylvania, Montana, Nevada, Kansas, Idaho, Vermont, Tennessee, Wyoming, Arizona, and West Virginia. The General Store anticipates no delays and plans for final approval from the State of Washington of its submitted UFOC. This approval will allow The General Store to transition to phase II of its franchise business strategy, the expansion of its successful Vancouver-based control model into the State of Washington. The General Store is a pioneer in online grocery shopping service developed through a proprietary network. It is a unique ordering and distribution system for grocery products using multiple mediums including the Internet. The company's core business is to provide a more convenient method for customers to shop-at-home for groceries, "Online vs. In Line." The General Store offers several mediums to allow customers to shop. These are as follows: an e-commerce site, color print catalogue, CD-ROM catalogue, and The General Store's proprietary CARAT DVD system, telephone, or fax. The benefit of shopping with The General Store is the delivery of all grocery products to the customer's front door. The statements made in this news release may contain certain forward-looking statements. Actual events of results may differ from the company's expectations. Certain risk factors may also affect the actual results achieved by the company. -0- KS/se* CONTACT: General Store Investor Relations Department Toll Free 800/252-8288 or 604/669-7511 info@genstore.com www.genstore.com KEYWORD: WASHINGTON INTERNATIONAL CANADA INDUSTRY KEYWORD: RETAIL FOODS/BEVERAGES COMED INTERACTIVE/MULTIMEDIA/INTERNET Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com * end of story *