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New Xavier Capital Corp - New Xavier provides update on RealEstateTours.com New Xavier Capital Corp XC Shares issued 2,750,000 Feb 27 2001 close $.750 Mar 1 2001 9:48:26 Mr. Steve Bajic reports New Xavier Capital has provided an update on Transmeridian Communications Inc., doing business as RealEstateTours.com (RET). Since the launch of its marketing campaign late last year, RET has witnessed consistent growth in sales of its products and services. The RET Web site, www.realestatetours.com, which has a large on-line database of multipicture property tours, and provides a complete line of on-line media and technology solutions to the real estate industry, has surpassed 3.3 million monthly hits as at Feb. 24, 2001. This is an increase of approximately 75 per cent over the prior 30-day period. RET now has over 500 licensed realtors using its services. RET has now initiated its phase two expansion outside of the Vancouver/lower mainland area. Services are now being offered on Vancouver Island and the Gulf Islands. The Sunshine Coast and the Whistler/Pemberton area are to follow shortly. RET has also launched its service outside of British Columbia, and will soon be available in Calgary and Edmonton. RET's Web site, and its products and services are geared toward assisting real estate professionals in providing a comprehensive on-line shopping experience for their buyers and sellers. RET's 360-degree and still multipicture property tours allow real estate agents to meet and exceed the needs of homebuyers and sellers. Buyers have the opportunity to preview and qualify homes, of their own choice, in the comfort and privacy of their chosen environment. Sellers get their property exposed in multipicture tour format (five to 13 pictures) on www.realestatetours.com as well as on hundreds of individually advertised and promoted real estate, and affiliated trade Web sites. Realtors get competitive advantages not found in other listing database services. In addition to a unique co-op database system, RET offers Web site development, membership privileges, hosting, 360-degree virtual tours, area specialist designations and E-mail aliasing. The company has entered into a share purchase agreement dated as of Nov. 28, 2000, with RET and its shareholders to acquire all of the issued and outstanding shares of RET. The company is a capital pool company under the policies of the Canadian Venture Exchange, and the acquisition of RET will serve as a qualifying transaction under those policies. Completion of the transaction is subject to a number of conditions, including but not limited to, exchange acceptance and majority-of-the-minority shareholder approval. The transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all. The company has scheduled an extraordinary general meeting for March 30, 2001, at which the transaction will be put forth for shareholder approval. The company's information circular with respect to this meeting has been mailed to the shareholders. Closing of the transaction is expected to occur in April, 2001. | ||||||||||||
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