December 12, 2002
FOR IMMEDIATE RELEASE
DXSTORM COMPLETES ACQUISITION OF 5CLICK
TORONTO, ONTARIO, December 22nd, 2002 -- DXStorm.com
Inc. (TSX Venture Exchange: DXX) ("DXStorm") today
announced that with final approval granted by the TSX Venture
Exchange on December 10, 2002, it has completed the purchase
of all the outstanding shares of Vancouver, BC based 5click
(3697932 Canada Inc., "5click").
A total of 217,800 common shares of DXStorm were issued at
a deemed value of $1.30 per share in exchange for all outstanding
shares of 5click. Shares issued in connection with this transaction
are subject to a four month regulatory hold period. The total
number of outstanding shares of DXStorm following this transaction
5click is an E-Commerce Service Provider and was a direct
competitor of DXStorm. The operations of 5click have been
moved to Ontario where 5click staff and management have now
officially joined the DXStorm team as the companies merge
their clients and technologies.
"Integration of 5click's key personnel, clients, products
and services into the DXStorm operations has proceeded well
ahead of schedule," stated Tony Zaine, former 5click
President. Mr. Zaine is now Managing Director Operations for
"The resulting synergies have greatly increased our
combined ability to leverage our partnerships with some of
Canada's leaders in e-business, including Vidéotron
Télécom Ltéé (a division of Quebecor
Média Inc.), Canoe.ca, Primus Telecommunications Canada
Inc., American Express Canada, and others."
"The combination of complimentary and new technologies
brought to us by 5click are valuable additions to the DXStorm
suite of services," commented Mr. Popovic, DXStorm President
and CEO. "We are pleased to welcome 5click clients and
staff as new members of the DXStorm family."
About DXSTORM.COM Inc.
DXStorm is a profitable E-Business Engineer and Service Provider
consolidating and leveraging the assets, intellectual properties,
and capabilities of the original DXStorm e-commerce systems
and an expanding number of acquired and developing technology
business units. Innovative services from DXStorm include:
E-Commerce Solutions for small-to-medium businesses, Custom
E-Business Engineering and Development, Network Services and
Security, Enterprise Hosting and Co-location, Streaming Media
and Conferencing Services, and Web Integrated Event Ticketing
Systems. Additional services are being prepared for launch
in upcoming quarters.
5click is an electronic commerce software developer and Application
Service Provider (ASP) with applications servicing small-
to mid-sized and enterprise-level clients. 5click has been
developing products and services that provide companies with
the ability to initiate, design, deploy and maintain online
commerce initiatives since 1996.
DXSTORM.COM Inc. Contact:
Gregory Lowes - Tel: 905-842-8262 ext 239 - email@example.com
Zoran Popovic - Tel: 905-842-8262 ext 252 - firstname.lastname@example.org
The Canadian Venture Exchange has neither approved nor disapproved
the contents of this press release.