Business Editors
VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 16, 2001
Campbell Technologies Inc. (OTC:CBTK) Tuesday announced that it has concluded a Master Licensing Agreement with Global Consumer Technologies Inc. (CDNX:GCT).
Romeo (Ray) Prescott, president
Prescott remarked that, "The conclusion of the Master Licensing Agreement between Campbell and Global provides Campbell with a whole suite of products and services developed on a Smart Card platform. The Global Web Builder Tools are completely integrated with Point of Sale devices offering merchants and customers online and instore loyalty and eCoupon functionality.
"Campbell Technologies will be the operator and profit center for the entire U.S. market. Campbell will be able to replicate Global's business model and aggressively pursue the credit card, loyalty card and eCommerce markets in the United States."
Products and Services to be marketed by Campbell exclusively in the U.S. market are:
Lifestyle Personal eCard: Online and instore, the Lifestyle Loyalty Program offers members the opportunity to accumulate and redeem Rebate and Holiday Rewards Points at participating merchants. In addition, eCoupons and other value propositions can be downloaded through the Lifestylecanada.com portal directly onto their Lifestyle Personal eCard. In the United States, this program will be marketed as Lifestyle America.
My Personal eCard: The first online Smart Card cash system allowing consumers without a credit card, including the large youth market, to participate in the online shopping experience.
Lifestyle Web Builder: The Web Builder empowers businesses to build electronic storefronts integrated into their Point of Sale systems, requiring no technical expertise.
Campbell Technologies has issued a convertible debenture of $13.5 million USD payable in installments over the next five years to acquire the Master License from Global Consumer Technologies Inc. The first installment of $500,000 USD is due within 60 days of signing. Global will assist Campbell in the marketing and deployment of the full product line, including all new products currently under development by Global.
Prescott commented, "The final conclusion of this Master License Agreement and the issuance of the convertible debenture marks a new beginning for Campbell Technologies Inc. Global has several key strategic partners who will play a significant role in Campbell's anticipated success in 2001.
"We look forward to assisting Campbell through the restructuring and the new financing activities in order to maximize on the considerable market opportunities with these new and innovative products. As Campbell progresses with the financing and re-structuring activities, Global may convert a substantial portion of the debenture into equity to provide evidence of our commitment to the future success of Campbell Technologies."
This press release may contain certain forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995.
Projections are based on current expectations and actual results are subject to risk factors such as business conditions including, without limitations, continued acceptance of the company's services, subscriber growth, competition and the ability to secure additional sources of financing; therefore, such results may differ materially.
For more official corporate information, please contact Mark Wolkos at 480/348-9282 or e-mail markwolk@primenet.com