December 29, 2000
Hansa.net Global Commerce, Inc. ("Hansa.net") Annual General Meeting of Shareholders, Anguilla, British West Indies, December 21, 2000
The shareholders approved all management recommendations. Directors elected were Lynwood Bell, Malcolm Hope-Ross, and G. Benjamin Cutler. James Connor was appointed Chief Financial Officer and Secretary.
Discussions focused on the Company's progress on strategic alliances with Caribis Corp, Primacy Corporation - Private Banking, Hush Communications Corporation and with the Company's largest shareholder, Hansa Bank & Trust Company Limited - all announced in earlier press releases. Based upon the success of these relationships involving secure Internet banking and other financial services, the Company has initiated discussions for the merger with or acquisition of Hansa Bank as well as with certain Caribis Web based technologies. These discussions are preliminary and agreements, if any, will be conditional upon regulatory approvals.
Also discussed was the past lack of revenue and the continuation of this trend for the next quarter or until new products are launched and the Company's equity investments recover from setbacks in the stock market.
The directors and shareholders approved the issuance of 50,000 share options at an exercise price of C$.15 expiring December 31, 2003 which are subject to Exchange approval.
The full text of this press release is at the Company Web site at: http://www.hansa.net/0dec29.htm
Financial statements for the year-end and first quarter are available at the SEDAR Web site: http://www.sedar.com/dynamic_pages/issuerprofiles_e/i00005640.htm)
About Hansa.net:
Hansa.net was founded in 1978 and became publicly traded in 1985. The Company provides incubator services and strategies to start-up companies particularly involved in technologies and the Internet. Hansa.net and Hansa Bank are part of the Span-Hansa Group comprised of ten organizations doing business in as many international locations. The Group's activities also include the financing of intellectual property, public stock offerings, acquisitions and mergers, and consulting on international business structures, trade and marketing. The Group maintains offices in Amsterdam, Barbados, and Anguilla.
The Canadian Venture Exchange has neither approved nor disapproved of this release