Global Net Entertainment Corp. Announces 1000 VLT Joint Venture.Business Editors TORONTO--(BUSINESS WIRE)--Jan. 18, 2000 (CDNX CDNX See Canadian Venture Exchange (CDNX). :GET.) Global Net (Barbados) Ltd., a subsidiary of Global Net Entertainment Corp. (Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) : GET/V), announced today that it has entered into an agreement to create a joint venture with Proximo prox·i·mo adv. Archaic Of or in the following month. [Latin proxim  (m Milenio S.A. of Panama whereby Global will provide 1000 Video Lottery Terminals (VLT's) in Central and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. . The partners of Proximo Milenio S.A. have over fifty years of experience in the South and Central American Central America A region of southern North America extending from the southern border of Mexico to the northern border of Colombia. It separates the Caribbean Sea from the Pacific Ocean and is linked to South America by the Isthmus of Panama. gaming industry. Global Net Entertainment Corp. is an online developer and provider of gaming software technologies, broadcasting and information; and a company that designs and operates Lottery systems. The agreement requires Global to supply the VLT's, and also to provide technical support and local training relating to their ongoing maintenance. The 1000 VLT's are to be delivered starting March 1, 2000 at a minimum rate of 50 terminals per month. Proximo Milenio will provide the specifications necessary to adapt games for each destination country and maintain insurance for them under Global's name. Mr. Julius Csurgo, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Global states that "This VLT VLT Valletta (postal locality, Malta) VLT Very Large Telescope VLT Video Lottery Terminal VLT Vermont Land Trust VLT Visible Light Transmittance VLT Variable List Table VLT Very Long-Term agreement continues our plans to establish significant recurring revenue streams and represents an important boost to our South and Central American business strategy. The Company has engaged Becker & Poliakoff, P.A. of Miami, Florida to represent it in this Joint Venture, and in the Honduras where an initial 50 Video Lottery Terminals are being installed and where we are finalizing an agreement with a government agency to provide 200 retail lottery terminals." Becker & Poliakoff, P.A. is a full service law firm that has grown over more than two decades to include offices throughout Florida and the world. The firm represents major gaming and pari-mutuel permit holders, including national and international casino and lottery companies. It has gaming industry experience in diverse places such as the People's Republic of China, the Czech Republic, Latin America, and the Caribbean. Mr. Csurgo also reported that Global has retained the legal services legal services n. the work performed by a lawyer for a client. of Tilleke & Gibbons Famous people named Gibbons include:
Shares Issued: 8,865,256 For Additional Information contact: Mr. Scott McDougall, 49 Bathurst Street, Suite 301 Toronto, Ontario Canada M5P 2P2 Tel: (416) 504-0821 Fax: (416) 504-0826 e-mail: infoage@canada.com On behalf of the Board of GLOBAL NET ENTERTAINMENT CORP. "Julius Csurgo" Chairman & CEO THE CANADIAN VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENTS OF THIS PRESS RELEASE. |
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