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EXHIBIT 99.1
Thursday June 15, 6:56 am Eastern Time
Company Press Release
PopMail.com, Inc. Successfully Completes All Stock Acquisition Of Fan Asylum,
Inc.
Aerosmith, Boyz II Men, Melissa Etheridge, Whitney Houston, TLC And Matchbox 20
Among Others On Current List Of Client Artists; Revenues Of Approximately $5
Million Reported By Fan Asylum In 1999
IRVING, Texas--(BUSINESS WIRE)--June 15, 2000-- PopMail.com, Inc. (Nasdaq:POPM -
news), a leading affinity and permission-based content and e-mail communications
company, today announced the completion of its acquisition of Fan Asylum, Inc.
of San Francisco, California, a privately-held operator and manager of popular
fan clubs and official artist Web sites. Since the mid-1980's, Fan Asylum has
served dozens of successful entertainers and music groups, including Aerosmith,
Boyz II Men, Melissa Etheridge, and Whitney Houston - just to name a few. The
terms and conditions of the acquisition provide for PopMail.com to issue the
selling shareholders of Fan Asylum 3.6 million restricted common shares, subject
to earnout and adjustment, which are further subject to various lock-ups in
ranges up to three years. Effective immediately, Fan Asylum will operate as a
wholly-owned subsidiary of PopMail.com, with Tim McQuaid, founder of Fan Asylum,
serving as the subsidiary's President.
Stephen King, Chief Executive Officer of PopMail.com, Inc. stated, "PopMail.com
has designed a growth strategy that provides for rapid and deep market
penetration of four vertical markets - entertainment, broadcast, print and
sports. The acquisition of Fan Asylum effectively delivers the Company one of
the largest music fan bases in the entertainment industry and a superstar roster
of top musical groups and artists. Consequently, we are now firmly entrenched
within the entertainment vertical and have the opportunity to significantly
leverage Fan Asylum's membership and client base, PopMail's content and
technological expertise and our combined industry reputations into new revenue
streams for the Company."
Continuing, King added, "With approximately $5 million in reported revenue in
1999 on an unaudited basis, Fan Asylum also provides enhanced fundamental value
to PopMail. Furthermore, with offices in the United States, London and Tokyo,
Fan Asylum transforms PopMail.com into a global e-enterprise literally overnight
and gives us the ability to promote accelerated growth of our affinity-based
e-mail products and services to Internet-users all over the world."
About Fan Asylum, Inc.
Founded in 1984 and headquartered in San Francisco, California with offices in
London, England and Tokyo, Japan, Fan Asylum operates and manages fan clubs and
official artist Web sites for some of the entertainment industry's most
successful musicians and groups through the use of newsletters, email
broadcasts, concert hotlines, and Web page management. Fan Asylum has
established itself as an industry leader by providing state-of-the-art,
creative, innovative and informative fan club materials and services that
reflect the personality of the artist and responds to the desires of the fans.
The Company's Web site, www.fanasylum.com, boasts over 20 million hits a month,
4 million page views a month and more than 400,000 unique users per month with
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average user sessions exceeding 10 minutes. Its current client roster includes
the legendary group Aerosmith, as well as Billy Crawford, Boyz II Men, Bree
Sharp, Bush, Jordan Knight, Lenny Kravitz, Maxwell, Melissa Etheridge, MYA,
Paula Cole, TLC and Whitney Houston.
About PopMail.com, Inc.
PopMail.com, inc. is a "permission marketing" and "affinity-based" e-mail
marketing company, serving the needs of individual businesses in a one-on-one
relationship with their customers. The Company targets four main vertical
markets for its network services: broadcast, media, sports and entertainment
industries. Companies in these vertical markets typically have customers with a
strong affinity toward their products and services, such as a favorite sports
team, radio station or upcoming broadcast or publication. Clients include all
NBA teams, all WNBA teams, Stanley Cup Champion Dallas Stars, Ticketmaster, CBS
Radio, ZDNet Anchor Desk, New York Post, Radio City Music Hall and Disney.
Combining these e-mail services allows companies to cut through the clutter and
inefficiencies of traditional marketing and begin promoting and effectively
branding the topics and items of interest to their viewers, listeners, fans and
customers.
The Private Securities Litigation Reform Act of 1995 provides a "safe-harbor"
for forward-looking statements. Certain information included in this press
release (as well as information included in oral statements or other written
statements made by or to be made by the Company) contains statements that are
forward-looking, such as statements relating to plans for future expansion. Such
forward-looking information involves important risks and uncertainties that
could significantly affect anticipated results in the future; and accordingly,
such results may differ from those expressed in any forward-looking statement
made by or on behalf of the Company. These risks and uncertainties include, but
are not limited to, completion of definitive purchase agreements, ability to
obtain needed capital, ability to attract and retain key and other personnel,
those relating to development activities, dependence on existing management,
leverage and debt service, domestic or global economic conditions, and changes
in customer preferences and attitudes. For more information, review the
Company's filings with the Securities and Exchange Commission.
Contact:
Continental Capital & Equity Corporation, Longwood, Fla.
Dodi B. Handy, 407/682-2001
e-mail: [email protected]
