Frefax Inc. Company Announcement.TORONTO--(BUSINESS WIRE)--Oct. 28, 1999-- Activity Update: Frefax Inc. ("Frefax") is in the final stages of executing the purchase agreement with the Broadcast Centre Company ("BC"). BC is a provider of the next level of the internet transmission by means of a fully integrated Internet/Extranet Broadcast Service Center. Frefax is creating a business oriented o·ri·ent n. 1. Orient The countries of Asia, especially of eastern Asia. 2. a. The luster characteristic of a pearl of high quality. b. A pearl having exceptional luster. 3. strategy suitable for enriched content creation of converging con·verge v. con·verged, con·verg·ing, con·verg·es v.intr. 1. a. To tend toward or approach an intersecting point: lines that converge. b. audio, video and data designed for quick penetration of the market. This innovative leveraging of existing resources and infrastructure with leading edge technology and high speed capacity will set free full scale networks. BC's strategic partners have spent over one million dollars developing their proprietary technology at the Canadian Communications Research Center and showcasing their broad band technologies over the Canarie National Test Network in Ottawa, Toronto, Windsor and Vancouver proving the viability of BC'c asset management database application running in a seamless domain (Greatway). BC is beginning with significant momentum based upon revenues generated from the existing business activities of its strategic partners. Frefax is also negotiating to purchase Neighborhood Communications, Inc. ("NCT NCT National Childbirth Trust NCT National Car Test NCT North Carolina Theatre NCT National Coordination Team NCT Northern California TRACON NCT Noise Cancellation Technology NCT Network Control and Timing NCT Nicotine Replacement Therapy ") a high speed internet access See how to access the Internet. , portal, telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. and media service company which will sell its services across a converging cable and telephone network. NCI See Liberate. has accumulated the required technologies to provide higher bandwidth than generally available and deliver media rich full motion video, high quality audio and interactive multimedia through a single access channel. NCI will provide these services via the deployment of proprietary technologies that connect the telephone circuits of the local exchange carrier with th high bandwidth infrastructure of the cable companies. Frefax's existing operations and its new strategic partners will be restructured and merged into the Toronto studios to initially generate three complementary production divisions. They will be capable of offering a range of business applications immediately. Frefax is currently filing the required documentation to become a reporting issuer and we are confident that we will comply with the Nasdaq's time requirement. Existing core business revenue streams are good and quarterly figures will be forthcoming. This release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties, including with limitation, continued acceptance of the company's products and services, increased levels of competition, products and technology changes, the company's dependance on financing, third-party suppliers and the property rights and other risks detailed from time to time in the company's federal filing annual reports, offering memorandum Offering Memorandum A legal document stating the objectives, risks, and terms of investment involved with a private placement. Notes: The private placement of hedge funds necessitates the issue of memorandums. and prospectus. |
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