Apr 01, 2004 19:24 ET
AutoTradeCenter Canada Ltd. Engages Brisco Capital Partners Corp.
NEWS RELEASE TRANSMITTED BY CCNMatthews FOR: AUTOTRADECENTER CANADA LTD. TSX VENTURE SYMBOL: ATO APRIL 1, 2004 - 19:24 ET AutoTradeCenter Canada Ltd. Engages Brisco Capital Partners Corp. LETHBRIDGE, ALBERTA--(CCNMatthews - Apr 1, 2004) - AutoTradeCenter Canada Ltd. ("AutoTradeCenter Canada"), (ATO-TSX.V) is pleased to announce that it has retained BRISCO Capital Partners Corp. ("BRISCO"), a Calgary-based company specializing in investor relations and corporate communications, to develop and execute an investor relations program for AutoTradeCenter Canada to achieve greater exposure within the Canadian investment community. The founding partners of BRISCO bring 17 years of combined experience conducting investor relations programs for a variety of Canadian public companies in a broad range of industries. BRISCO takes a full-service approach to investor relations and provides creative, effective, results-driven investor relations programs for Canadian public companies. Pursuant to an agreement dated effective March 15, 2004, AutoTradeCenter Canada has retained BRISCO to provide investor relations services for an eighteen month term, which term may be renegotiated and renewed for a further year or for such other period as may be mutually agreed upon. In consideration of the services to be provided, AutoTradeCenter Canada has agreed to pay to BRISCO, subject to the completion of a short form offering (the "Offering") and subject to approval of the TSX Venture Exchange (the "Exchange"), a monthly retainer of $4,000, plus reasonable out of pocket expenses. Until such time as the Offering is completed, BRISCO shall receive only $1,000 per month, with the balance to accrue and be paid upon the closing of the Offering. If such Offering does not occur, then BRISCO shall continue to receive only $1,000 per month. Either party can terminate this agreement on 30 days written notice. In addition, subject to Exchange approval, BRISCO has been granted options to purchase 200,000 shares of AutoTradeCenter Canada at an exercise price of $0.10 per share. The stock options will vest, and be exercisable as to one-third of the shares thereunder, on the following dates: September 15, 2004, March 15, 2005 and September 15, 2005. An aggregate of 1,405,000 stock options were also granted to employees, directors, and officers of AutoTradeCenter Canada on March 15, 2004. Allan Chell, President, Chief Executive Officer and a director, was granted an aggregate of 325,000 stock options (125,000 of which were granted to him as a director), Bernie Knaus, a director, was granted 125,000 stock options and Kathy Nagy, Controller and a director, was granted an aggregate of 225,000 stock options (125,000 of which were granted to her as a director). The balance of the options were granted to employees and to one consultant. All of such options have been granted in accordance with the stock option plan of AutoTradeCenter Canada Ltd. The options shall expire on March 15, 2009 and will not be exercisable at all until September 15, 2004, and then will be exercisable as to one-third of the shares subject to the option on each of September 15, 2004, March 15, 2005 and September 15, 2005 at an exercise price of $0.10 per share. AutoTradeCenter Canada provides comprehensive services to compliment on-line automobile sales, including transfer of ownership, transportation, arbitration and payment processing. The Company also has exclusive rights to use cDemo Inc.'s Inspection Intelligence technology. This technology enables an inspector to capture accurate, rich and complete vehicle data and creates 'virtual' vehicles' on-line-at the "touch of a button" the information is made available to the AutoTradeCenter Canada On-Line Auction. The technology is also designed to provide remarketers (manufactures, fleet, lease and rental companies, as well as franchise automobile dealers that require self-inspect functionality) with "actionable information", enabling them to remarket their vehicles electronically while maximizing the value of their on-line inventory. Statements in this release which describe the Company's intentions, expectations or predictions, or which relate to matters that are not historical facts are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of the Company to be materially different from any future results, performances or achievements expressed in or implied by such forward-looking statements. The Company may update or revise any forward-looking statements, whether as a result of new information, future events or changing market and business conditions. -30-
For more information, please contact
FOR FURTHER INFORMATION PLEASE CONTACT:
AutoTradeCenter Canada Ltd.
Allan Chell
President & CEO
(403) 328-4343
Email: allan@globalautolink.com
Website: www.autotradecenter.ca
or
BRISCO Capital Partners Corp.
Kent Britton
President
(403) 262-9888
Email: kent@briscocapital.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy and accuracy of this release.
