Exhibit 99.1
News Release
November 6, 2000 Symbols: CDNX - WIZ
OTC - WIZZF
FWB - WSJ
WSI FOCUSES ON REFINED BUSINESS MODEL FOR SECOND FISCAL YEAR
WSi Interactive Corporation has refined its business model and is working
towards achieving profitability by the end of its second fiscal year, June 30th,
2001. To achieve this goal, WSi intends to continue generating revenue by
marketing and selling products and services based on its core competencies of
integrated marketing, web services, and business development.
The Company is firmly focused on the key area of sales and on the important
objective of overhead cost containment and reduction. The Company has built the
infrastructure to provide WSi's management team with the tools to execute the
business plan and provide increased shareholder value in the new fiscal year.
At this time, WSi would like to announce that Lance Morginn, Vice President of
Technology Services, is no longer with the Company. Mr. Morginn has been a
valuable member of the WSi team over the past year and the Company wishes him
success in his future endeavours. Due to the new structure of the Company, this
position will not be replaced. Technology Services will continue to be handled
by existing WSi employees within the web services division.
In addition, WSi Interactive Corporation has made a decision to initiate legal
proceedings against web posters on an Internet bulletin board that have defamed
the company and its employees and have misled investors.
About WSi Interactive Corporation
WSi generates revenue by marketing and selling products and services based on
its core competencies of integrated marketing, web and business development
services and by investing in content and infrastructure of Internet businesses.
The three divisions that represent the core of WSi are direct marketing,
Internet marketing, and web development and hosting services. All three are
complementary and provide total solutions to a wide variety of client
objectives. These divisions are complimented by a dedicated team of business
development professionals who actively seek growth opportunities and investments
for WSi. WSi generates revenue from new businesses by providing development
support based on those same core competencies.
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To receive information on WSi by e-mail, please forward your Internet address
to: [email protected]
ON BEHALF OF THE COMPANY
"Theo Sanidas"
Theo Sanidas, President
This news release may contain forward-looking statements that involve risks and
uncertainties, including the impact of competitive products and pricing and
general economic conditions as they affect the Company's clients. Actual results
and developments may therefore differ materially from those described in this
release. No regulatory authority has reviewed nor accepted any responsibility
for the adequacy or accuracy of the contents of this release.
