EXHIBIT 99
VANCOUVER'S FINEST COFFEE - ACQUISITION OF DIGITAL TV PROJECT
VANCOUVER, May 11 - Vancouver's Finest Coffee Company (the "Company ") wishes to
announce that at the First Annual General Meeting held on March 24, 2000, the
shareholders have approved a resolution for the directors to pursue another line
of business other than the originally proposed coffee kiosk business in the
Lower Mainland of British Columbia; and furthermore, the shareholders also
granted the director's discretion to effect a future name change for the Company
if necessary. The Company also wishes to announce that it has accepted the
resignations of Messrs. Kirsten Wilson, Ryan Wilson and Fred Burns, and Messrs.
Ernest Cheung, Maurice Tsakok and Marc Hung have been appointed to the Board of
Directors. Mr. Cheung was appointed President of the Company. Mr. Cheung has B.
Math and MBA degrees and brings a wealth of financial and China business
experience to the Company. Mr. Tsakok holds B.Eng. and MBA (MIS) degrees and has
many years of financial and technical industry experience. Mr. Hung holds
B.A.Sc. and M.A.Sc. (Electrical Engineering) degrees and has many years of
engineering, technical and management experience.
The Company is also pleased to announce that it has signed an agreement to
acquire China NetTV Corp. which in turn has signed a Letter of Intent with
Sichuan Qianfeng Digital Audio/Video Equipment Co. Ltd. ("QF Digital") to form a
Co-operative Joint Venture in China. As part of the agreement, six million
escrowed shares held by the original directors will be transferred to the
shareholder of NetTV for the transaction. Based in Sichuan Province, QF Digital
is a pioneer and leader in China in Proprietary Digital Data Transmission
Technology and Solutions for the Television Broadcasting and Cable industries.
It has proprietary technology that supplies complete turnkey Digital TV
Broadcasting solutions consisting of:
1. Headend Systems - Front-end systems residing at the TV or
Cable operator that originates the Digital signal.
2. Design and Engineering - Capabilities to be designer and
builder of turnkey Digital TV Broadcasting systems.
3. Set-Top Boxes - User Interface boxes that convert Digital
Broadcasts into Analog signals.
Based on its proprietary technology, QF Digital plans to incorporate Smart Card
and WebTV capabilities into their Set-Top Boxes. Any forward-looking statement
in this press release is made pursuant to the "safe harbor'" provisions of the
Private Securities Litigation Reform Act of 1995. Investors are cautioned that
actual results may differ substantially from such forward-looking statements.
Forward-looking statements involve risks and uncertainties including, but not
limited to, economical and political factors, technological developments and
changes in international and local markets, as well as the inherent risks of the
technology related business.
ON BEHALF OF THE BOARD OF DIRECTORS OF VANCOUVER'S FINEST COFFEE COMPANY
/S/ Ernest Cheung
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Ernest Cheung, President
For further information, please contact: Ernest Cheung (604) 689-4407
