To: Quint (306 )
From: Tim Davies
Tuesday, May 25 1999 3:09PM ET
Reply # of 317
Mt. Tom Minerals Corp -
Mt. Tom to go into Internet gaming business
Mt. Tom Minerals Corp MTK
Shares issued 5,883,922 1999-05-19 close $0.4
Tuesday May 25 1999
Mr. Sheldon Kales reports:
The company is pleased to announce a significant acquisition in the Internet gaming
sector. On May 19, 1999, the company entered into an agreement of purchase and sale
with Julius Csurgo, Peter Zmudzki, and Global Netertainment Corp. (collectively, the
vendors.), whereby in exchange for 2.5 million shares of the company, the company will
acquire Internet gaming technology licences, rights to obtain existing and prospective
technologies of NXTi Corporation, a company related to the vendors.
The company will also acquire a number of Internet domain names including
globalnetertainment.com, bingotimes.com, lottonation.com, call2bet.com,
globalwinner.com, renoking.com, acieducie.com, and bettoraction.com, and will obtain
the benefits from a number of joint venture and contractual arrangements principally in
the Internet gaming industry.
Specifically, the following technologies will be acquired by the company.
1. "Scratch 'n' Match" technology - this software allows for the delivery of secure,
functional, interactive scratch 'n' match tickets over the Internet for the purposes of
gambling or promotion.
2. A proprietary gaming engine - this technology is currently at the alpha stage of testing
and will provide a fully capable Internet casino.
3. "Quick Pic" Lottery System - a secure, on-line lottery system utilizing streaming video
to enable real-time, third-party verifiable lottery results for the purposes of gaming or
promotion.
4. Licences to software for casino lottery games - the company is presently obtaining full
casino, lottery, bingo and sports book licences, some of which will be on an exclusive
basis and available for sublicensing.
5. All licensed gaming technologies of NXTi Corporation and the rights to acquire all
gaming or Internet technology to be developed in the future by NXTi. The company
intends to continue the development of the software for sale and licence of a number of
gaming products.
6. An international sports book - the company will acquire the exclusive rights to an
international sports book which is presently in the alpha stage of development,
completion is expected to occur by August 1999.
The company intends to incorporate these gaming technologies into a series of gaming
sites and expects to begin commercially launching the sites in the next 60 to 90 days.
The 1998 Casino and Gaming Business Market Research Handbook predicts that the
Internet gaming market could reach $100-billion to $200-billion in annual revenues by
2005. The company is focused on following and surpassing the recent successes in its
market, which include such companies as Cryptologic Inc. and Starnet Communications
International Inc.
Mr. Csurgo, chairman and chief executive officer of Global Netertainment Corp., brings
a wealth of entrepreneurial experiences to the business. He has been involved in many
facets of advertising, marketing, real estate, retail and financial businesses and has
tremendous experience in building highly successful enterprises, from startup to
profitability. With a solid base in advertising and five years as a CEO of his own
company, Mr. Csurgo has hands-on knowledge of promoting and marketing. His
ambitions ultimately led him to the real estate sector where for 15 years, he spearheaded
the creation and development and managing of commercial properties. He was involved
in over $1-billion of real estate dealings before turning his attention to merchandising
where he spearheaded the creation and development of successful ventures in direct
marketing and retail in North America, Europe and Japan. Mr. Csurgo is currently the
president of PageActive Inc. and Non Corp. and sits on the board of directors of
numerous companies.
Mr. Zmudzki is chairman and CEO of PageActive Inc., an Internet software
development company. Mr. Zmudzki has almost 20 years of experience in interactive
digital communication networks. He has worked for both public and private
corporations throughout North and South America and Europe and has lectured at a
number of colleges and universities on interactive graphic multimedia technologies. Prior
to joining PageActive Inc., Mr. Zmudzki founded Information Architecture, a digital
multimedia design studio in 1994, and from 1990 to 1994 he served as president and
senior partner of Interactive Media International, S.A., in Venezuela. Mr. Zmudzki
brings a tremendous amount of expertise and experience in the Internet world of
business and communications.
Mr. Csurgo will be immediately appointed to the board of directors of the company.
Mr. Csurgo is already in the process of assembling a team of world-renowned gaming
professionals to the advisory board of the company. Expertise to be made available
includes experts in sports book lottery, South American gaming and European gaming.
The company will be calling its 1999 annual general and special meeting of shareholders
for Thursday, July 29, 1999, in Toronto. At that meeting, shareholders will be asked to
approve a name change to Global Netertainment Corp.
This transaction constitutes a change of business under Vancouver Stock Exchange
policies and accordingly, the shares of the company will remain halted until the company
has obtained sponsorship from a registered broker dealer.
The foregoing transaction is subject to regulatory approval.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
old url (better for printing)
Next
Previous
|
