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e-business solutions for the worldwide forest industry
NEWS RELEASE
FORESTINDUSTRY.COM ANNOUNCES PARTICIPATION IN UPCOMING NAWLA CONFERENCE AND
CANCELLATION OF INTENT TO PURCHASE CROW'S
Vancouver, B.C. October 23, 2000 - forestindustry.com, Inc. (OTC BB: FXCH), an
Internet marketplace and software solution provider for the forest and wood
products sector, is pleased to announce their participation in the 2000 NAWLA
Traders Market(R) Conference in Dallas, Texas from November 2-4 as well as
announce the cancellation of its' Letter of Intent with C.C. Crow Publications,
Inc.
The North American Wholesale Lumber Association (NAWLA) is an international
trade association of over 600 leading forest and building products industry
wholesalers, manufacturers and industry affiliated companies throughout the
United States and Canada. NAWLA is dedicated to enhancing professionalism, to
maintaining the integrity of lumber distribution and to the responsible use of
forest resources. The NAWLA Traders Market(R) has over 1800 lumber traders and
hundreds of exhibitors in attendance.
"We are extremely pleased to be invited to present at this years NAWLA Traders
Market Conference and have the opportunity to address industry attendees
regarding eBusiness and its' impact on the forest sector", stated Joe Perraton,
President of forestindustry.com.
"The opportunity to present at the NAWLA conference opens a whole new market
opportunity for the company with the largest solid wood manufacturers in the
industry attending," said Perraton.
Forestindustry.com would also like to announce that the Company will not
complete the transaction of purchasing C.C. Crow Publications, Inc. of Portland,
OR. In accordance with the Letter of Intent signed with Crow's, as released on
August 22, 2000, both parties have agreed to cancel the sale effective as of
October 6th, 2000.
Forestindustry.com would like to thank Mr. Frank Vetorino, President of Crow's,
for both his time and energy in the due diligence process.
Forestindustry.com is an industry dedicated internet community for the forest
and wood products industry. The Company provides its clients with a wide range
of e-business services designed to assist them in reducing costs and improving
profits throughout their operations. With a highly skilled team of e-business
and forestry professionals, forestindustry.com has created an e-focused
marketplace with the goal of streamlining the century old forest industry.
For further information Contact: Todd Hilditch 1-800-615-3924 (voice),
1-866-758-8665 (fax), email [email protected].
In this announcement, under the provisions of the new "safe harbor" section of
the Private Securities Litigation Reform Act of 1995, forestindustry.com makes
forward-looking statements that involve a number of risks and uncertainties.
Among the factors that could cause actual future results to differ materially
are variability in quarterly results, general competitive pressures in the
marketplace, inability to obtain additional financings, change in the electronic
commerce market, competition for advertising, rapid technological change, risk
in internet system failure, capacity limits in technology, management of growth
and other factors as discussed in the Company's preliminary prospectus and Form
- 10KSB as filed with the Securities and Exchange Commission.
