DXStorm and Clic.net
join forces forming the largest
all-Canadian e-com provider
DXStorm and Clic.net join forces forming the largest
all-Canadian e-com provider. TORONTO, May 5 /CNW/ -
DXStorm.com Inc. (TSX Venture Exchange: DXX) ("DXStorm")
today announced that it has entered into an Letter of
Intent (LOI) to purchase the outstanding shares of
Clic.net, a Montreal, P.Q., based corporation. According
to this letter, DXStorm will issue 1,200,000 shares and
1,300,000 warrants for the purchase of all outstanding
shares of Clic.net. Clic.net is a leading E-Commerce
Service Provider and the largest direct competitor of
DXStorm.
The transaction is subject to completion of due
diligence, board and regulatory approvals, and
compliance with all applicable securities laws.
"This deal is a natural" stated Carl Ramsay,
Executive Vice President of Clic.net. "We were competing
for the same market for a number of years. Joining our
efforts and resources will be far more productive and
cost efficient. We are excited and pleased to add
DXStorm's new products and service offerings to the
Quebec market."
"DXStorm's plans have long included a presence in
Quebec. Clic.net lets us become a leader and truly
all-Canadian e-com provider, providing service to
clients worldwide", added Zoran Popovic President of
Dxstorm. "I have met the entire team of Clic.net and
thank them for a warm welcome. Clic.net is expert at
developing and commercializing high level technology and
we are extremely happy to see a team of such
complementary expertise join ours."
"The effect of combined operations will have a
meaningful cost savings. Furthermore the expected
rollout of new services directly related to the joint
effort will bring substantial new revenues", stated
Louis Gendreau, President of Clic.net.
About DXStorm.com Inc.
DXStorm.com Inc. is an
E-Business Applications Service Provider and Developer.
The company provides Internet based solutions to
businesses from turnkey e-store solutions for small
business to custom developed and implemented Web,
database, network, security, and transaction systems for
any scale of enterprise.
About Clic.net
Founded in 1994, Clic.net offers a
unique expertise with an integrated e-commerce platform,
enabling its clients to efficiently and securely conduct
business over the Internet. Clic.net counts the
Government of Quebec, Canada Post, Mattel Canada, le
Cirque du Soleil and 1,400 other Canadian businesses
amongst its clients and partners. Clic.net is a
Microsoft Certified Partner.
Forward-Looking Statements Any statements in this
release that are not statements of fact may be
considered forward looking statements as that term is
defined under securities laws in Canada. Forward looking
statements are only predictions and may differ
materially from actual events or results.
The Canadian Venture Exchange has neither approved
nor disapproved the contents of this press release.
For further information:
Zoran Popovic, (905)
842-8262 x 252, zoran@dxstorm.com;
Carl Ramsay, (514)
875-8830 x 228, carl@admin.clic.net
