0.03.2000 AdultShop.com (873.083):
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HOMEX - Perth
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Internet Rights to Established Retail Chain
The Directors of AdultShop.com Limited are pleased to announce that the
Company has concluded an agreement with the owners of the Australian adult
product retail chain, Club X.
This agreement will allow AdultShop.com to establish and operate a web site on
the Internet which will market and sell the Club X range of adult products.
Club X operates a successful business in Australia marketing, distributing and
selling adult products through a chain of established retail stores. In addition, it
has a strong brand name in adult products throughout the Eastern States of
Australia.
AdultShop.com will pay Club X a licence fee for the grant of an Internet-exclusive
licence to a new company in which both Club X and the Company will hold a 50%
share. The Club X trademark will be used by the new incorporated company in
relation to the promotion and sale of adult products and services on the Internet,
through a website to be developed under a domain name or address which
includes the trademark. AdultShop.com will have principal responsibility for the
design, development and administration of the web site.
In return the Club X trademark owners will receive consideration as follows:
* $300,000 in cash; and * 153,847 fully paid ordinary shares, at an issue price of
$1.30, in the capital of the Company.
Completion of the transaction is subject to, amongst other things;
* due diligence by the Company;
M Day MANAGING DIRECTOR
zurück
zurück
HOMEX - Perth
-------------------------
Internet Rights to Established Retail Chain
The Directors of AdultShop.com Limited are pleased to announce that the
Company has concluded an agreement with the owners of the Australian adult
product retail chain, Club X.
This agreement will allow AdultShop.com to establish and operate a web site on
the Internet which will market and sell the Club X range of adult products.
Club X operates a successful business in Australia marketing, distributing and
selling adult products through a chain of established retail stores. In addition, it
has a strong brand name in adult products throughout the Eastern States of
Australia.
AdultShop.com will pay Club X a licence fee for the grant of an Internet-exclusive
licence to a new company in which both Club X and the Company will hold a 50%
share. The Club X trademark will be used by the new incorporated company in
relation to the promotion and sale of adult products and services on the Internet,
through a website to be developed under a domain name or address which
includes the trademark. AdultShop.com will have principal responsibility for the
design, development and administration of the web site.
In return the Club X trademark owners will receive consideration as follows:
* $300,000 in cash; and * 153,847 fully paid ordinary shares, at an issue price of
$1.30, in the capital of the Company.
Completion of the transaction is subject to, amongst other things;
* due diligence by the Company;
M Day MANAGING DIRECTOR
zurück
