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This is a news release that came out March 23rd 1999 NEWS RELEASE March 23, 1999 FOR INFORMATION TO NEW INVEVTORS IN TIMEBEAT ENTERPRISES INC. New Operating Division For AGC Americas Gold AGC Americas Gold (NASD- BB:AGCFF) (VSE:AGA) (www.agcgold.com) announced that it has signed agreements with Watch Central Corporation (WCC), New York City (NYC), and submitted these agreements to the appropriate regulatory agencies for approval. This is the first step in a multi-phase plan designed to launch multiple internet driven, e-commerce marketing, sales, support and auction businesses focused within the fine watch, jewelry and related precious metals areas. The new division will market, sell and fully warrantee top designer brand name watches at substantial discounts off of manufacturer's suggested list prices. All items being shown on our web-site will also be on display at WCC's NYC, 5th Avenue, show room. A major feature of the web-site will be an area called “The Collector's Corner,” a Vintage-Collectibles Auction-Bid Site. Unlike other Internet auction companies, such as EBAY (Nasdaq:EBAY) and Yahoo!auctions (Nasdaq:YHOO), AGC's new division will inspect, refurbish when necessary, and, warrantee the nature, condition and authenticity of each unique vintage item to be auctioned. This new e-commerce site will utilize the latest technologies from companies such as Microsoft (Nasdaq:MSFT), Doubleclick (Nasdaq:DCLK), Sun Microsystems (Nasdaq:SUNW) and others in a methodology that will provide the customer with ease of access to the site, ease in negotiating menus, ease in ordering product and processing credit card transactions, and, ease in obtaining help when required. The new subsidiary will be headed by Alexander Vileshin. Who has more than 18 years experience in the fine watch industry, and who previously was with Tourneau Inc., NYC, where he established and managed its vintage watch division which he developed it into a business with a yearly revenue stream in excess of $10 million in the NYC area alone. In addition, Mr. Vileshin established new retail outlets, restructured operations, reduced overhead and increased efficiencies, established the warrantee-repair center, the factory authorized service center and training programs. Presently, Mr. Vileshin is President of WCC and Vice President of Joseph Edwards Inc. (JE), a major NYC watch retailer. At JE, he has introduced numerous designer brand name lines, heads watch and jewelry purchasing and has restructured the marketing and sales programs which has resulted in a 40 percent increase in revenues. He has attended numerous seminars and received specialized training from Rolex, Ebel, Concord, Baume&Mercier and others; and, he is a member of the International Watch and Jewelry Guild, the National Association of Watch and Clock Collectors and is an avid collector of vintage time pieces. Mr. Vileshin has a proven track record of success within the watch industry. AGC is pleased to have Mr. Vileshin head this new division and we believe he will be a major contributor to its success and an asset to AGC and its shareholders. For further information about AGC please contact Investor Relations at (800) 545-5787 or Harry Grossman at (800) 699-7285. ON BEHALF OF THE BOARD OF AGC AMERICAS GOLD CORP “Signed” Harry Grossman Director The Vancouver Stock Exchange has neither approved or disapproved the information enclosed in this release. The Statements that are not historical facts and are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from the targeted results. Such risks and uncertainties include those described in the Company's 20-F as amended. Americas Gold Corp. #200 - 580 Hornby St. Vancouver, BC V6C 3B6 Tel: (604)689-4771 Fax: (604)684-0642 1-800-545-5787 agcgold.com www.timeebeat.com | ||||||||||||
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