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ArtGalleryLive.com (ALV-CDNX) is an Internet Art Network.ÿ It provides a leading edge e-commerce platform and marketing solutions to the art world ArtGalleryLive.com Management Ltd. 1480-885 West Georgia Street Vancouver, BCÿÿ V6C 3E8 VSE Trading Symbol:ÿALV mailto:stocks@ninetyeight.com Telephone: (604) 687-3376 Facsimile: (604) 687-3119 Toll free: 1-800-665-3390 artgallerylive.com http://biz.yahoo.com/bw/000124/artgallery_1.html Monday January 24, 2:08 pm Eastern Time Company Press Release ArtGalleryLive.com Revolutionizes the Art Industry with its B2B Strategy, The Art Industry Can Now Make a Profitable and Seamless Transition to Online Commerce. VANCOUVER, B.C.--(BUSINESS WIRE)--Jan. 24, 2000--Already making a name for itself as a revolutionary business-to-consumer (B2C) online art network, ArtGalleryLive.com Management Ltd. (CDNX:ALV. - news) today launched its business-to-business (B2B) strategy to the art world. ô The development of this B2B model will enable publishers, galleries, dealers, and distributors a network solution for buying and selling art worldwide. ArtGalleryLive.com offers a dynamic, e-commerce art marketplace-the ArtGalleryLive.com network-that allows art to be bought or sold by anyone, anytime, or anywhere. The ArtGalleryLive.com network provides a private, secure, and efficient online environment. This network will allow publishers, galleries, and dealers to buildcedented level of stability, flexibility, and adaptability. Moreover, the ArtGalleryLive.com network will allow new and existing channels of distribution to prosper, communications to transpire in real-time, and the current art collector base to grow to an unparalleled size. ArtGalleryLive.com's B2B solutions will include: Secure, fully enabled, e-commerce micro-sites for gallery partners and dealers Secure, e-commerce enabled catalogues that allows publishers to market, sell, and service their products to galleries, dealers, home decor retailers, and international distributors online Full integration of network publishers' purchasing, inventory, and accounting systems - Live auctions, classifieds, and fixed price selling - Multi-million dollar marketing campaign - Access to 6,000,000 ShopNow.com shoppers Live and archived Web-casts of gallery events, gallery showrooms, and artist biographies According to a recent study by the Boston Consulting Group (BCG), business-to-business transactions in the United States are expected to increase 33% per year. By 2003, it is anticipated that $2.8 trillion will trade hands in business-to-business purchases. ``We are incredibly excited about our business-to-business opportunities', noted Mr. Mel Reeves, CEO and Chairman, ``The feedback that we have received from leading publishers and galleries within the art industry has been exceptional. Our integrated, real-time inventory control and supply chain management solutions have set ArtGalleryLive.com's network apart from the competition'. As a result of its enhanced services, ArtGalleryLive.com has partnered with its first network gallery, Loch and Mayberry Fine Art, Inc. Established in 1972, Loch and Mayberry is a leading Canadian fine art gallery with 27 years of experience and an impeccable reputation for service, quality, and professionalism. ``We are enthusiastic to incorporate the Loch and Mayberry Gallery as a micro-site into our online network', proclaimed Trevor Daniel, CFO and Director, ``This partnership will allow the Loch and Mayberry Gallery to reap the benefits of ArtGalleryLive.com's US$2.5 million e-commerce platform and US$5 million marketing campaign targeted, this year, towards millions of online users'. In addition, Mr. David Loch, a principal of Loch and Mayberry Fine Art, Inc., has graciously accepted a position on ArtGalleryLive.com's international advisory board. ``In my opinion, the ArtGalleryLive.com network provides a tremendous opportunity for galleries throughout North America to showcase, to the world, the talents of the artists that they represent', affirmed David Loch. ``We are very honored that David Loch, one of Canada's most prominent art dealers, and Loch and Mayberry Fine Art, Inc., one of Canada's premier fine art galleries have chosen the ArtGalleryLive.com network as their Internet solution', noted Mel Reeves, ``These stamps of approval have validated our network model and have fueled our internal team to drive the business forward'. Mr. Mel Reeves is also pleased to announce a non-brokered Private Placement for the purchase of up to 3,000,000 Units at $.30 per Unit. Each Unit consists of one Share and one Warrant exercisable into additional common shares of the Company at an exercise price of $.30 per share during the initial 6 months of the 12 month exercise period of the Warrant, and thereafter a price of $.35 per share during the remaining 6 months of the exercise period. The shares issued as a result of this transaction, including shares issued upon exercise of Warrants, may not be sold, transferred, or assigned until four months from the closing of the transaction. The Company will also be seeking regulatory acceptance to the granting of management incentive stock options allowing the holders thereof to purchase up to an aggregrate of 80,000 common shares of the Company at a price of $.031 per share up to and including January 21, 2002. About ArtGalleryLive.com ArtGalleryLive.com Management Ltd. is a leading Internet art network. It offers business-to-business and business-to-consumer e-commerce and marketing solutions to the art world. ArtGalleryLive.com operates an e-commerce website artgallerylive.com --an online art network that connects a wide array of world-renowned publishers, galleries, dealers and collectors. ArtGalleryLive.com Management Ltd. is headquartered in Vancouver, Canada. About ShopNow.com ArtGalleryLive.com's strategic partner, ShopNow.com Inc. (NASDAQ:SPNW - news), is a leading e-commerce enabling and services company. ShopNow.com operates an e-commerce network known as the ShopNow.com network, which is comprised of online access to over 45,000 businesses and over 6,000,000 shoppers. ShopNow.com Inc. operates the ShopNow.com portal shopnow.com--an online marketplace for connecting buyers and sellers worldwide. ShopNow.com is also the operator of b2bNow.com, a business-to-business portal. ShopNow provides a range of business-to-business e-commerce products and services under ebusiness.shopnow.com. ShopNow.com Inc. is headquartered in Seattle, Washington, with additional offices in Georgia, Arizona, Kansas, and California. On Behalf of the Board of Directors, ARTGALLERYLIVE.COM MANAGEMENT LTD. Mel Reeves, CEO & Chairman The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this press release. Contact: ArtGallery Live.com Management Ltd. James D. Romano, 604/687-3376 Toll free: 1-800-665-3390 604/687-3119 (FAX) E-mail: jromano@artgallerylive.com Website: artgallerylive.com | ||||||||||||
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