SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM 6-K
Report of Foreign Issuer
Pursuant to Rule 13a- 16 or 15d-16 of the
Securities Exchange Act of 1934
Press Release dated August 19, 1999
Alexa Ventures Inc.
818 Erie St.
Stratford, ON
N4Z 1A2
[Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40- F]
Form 20-F |X| Form 40-F |_|
[Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information by the
Commission pursuant to Rule 12g3-2(b) under the Securities Act of 1934.]
Yes |X| No |_|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Alexa Ventures Inc.
Date: August 19, 1999 Mr. Gerry A. Racicot
President
ALEXA
VENTURES INC.
PRESS RELEASE
August 19, 1999
- --------------------------------------------------------------------------------
TSE:AXA
OTC BB:ALVEF
ALEXA CLOSES EIGER LABS DEAL TO BECOME A PLAYER IN THE INTERNET'S
BOOMING MP3 MARKET.
STRATFORD, ONTARIO, CANADA, Alexa Ventures Inc. ( Alexa ) announced today that
it has now concluded an agreement to purchase 64% of Eiger Labs Group Inc. (
Eiger ) of Silicon Valley, California and 64 % of Eiger's manufacturing company,
Point Multimedia Systems Inc. ( Point ) of South Korea.
The deal is subject to final regulatory and board of director approvals and is
for a total purchase consideration of stock and cash of $ 3,000,000USD. Earn out
shares will be made available over the next five years as the companies meet
their progressive performance criteria to 100,000,000USD in 2003 with a profit
of $4,500,000USD, also subject to regulatory and board approvals a finders fee
has been agreed to.
Alexa President and CEO Gerry Racicot, stated "This acquisition concentrates and
culminates our focus of acquiring U.S. distribution with Korean electronic
manufacturing. This strategy will enable Alexa to have substantial revenue
growth and bottom line profitability through distribution and controlled
manufacturing. The Eiger and Point acquisitions further entrenches Alexa as a
major player in the North American mainstream electronic market as well as
establishing a sound foothold in the booming Internet market."
Point is the manufacturer of fax/modems, PNA, Ethernet, PCMCIA products and MP3
players for the South Korean and U.S. markets. Point is a manufacturer of
communication electronic products for Quality OEM's major PC Companies and Eiger
in the U.S.. MP3 has recently become the most searched word on the Internet
search engines and we are extremely well positioned to take advantage of this
phenomenon world-wide. The sales are anticipated to surpass the sales volumes of
the Walkman category with billion dollar world-wide sales.
Eiger is a full service distributor based in Newark CA, in the San Francisco Bay
area serving the national U.S. marketplace. Eiger's strength is in internet and
retail marketing of electronic products manufactured by Point and other sources
as it sees fit. At present, Eiger is selling the full range of its branded
products in the fax/modem, PNA, Ethernet, PCMCIA products and MP3 category,
Eiger has 14% of the PC Card Modems and is #2 in the U.S. market enjoying strong
relationships with major retailer's such as CompUSA, Best Buy, Computer city,
Ingram-Micro, Micro Center, Onsale.com and others.
DIRECTORS OF ALEXA VENTURES INC.:
G.A. Racicot
Chief Executive Officer
THIS PRESS RELEASE WAS PREPARED BY THE MANAGEMENT OF THE COMPANY WHO TAKE FULL
RESPONSIBILITY FOR ITS CONTENTS. THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND
DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
818 Erie St.
Stratford, ON N4Z 1A2
519-273-0503(tel) 519-273-1684(fax)
