Serengeti Minerals Announces Acquisition Of www.categorE.com
|An SI Board Since June 1999|
Note: This is not sgd on the NYSE. This is on the VC exchange.
Serengeti Minerals (SGD - V) is pleased to announce the acquisition subject to regulatory approval of www.categorE.com, an existing and operational web domain. The categorE website is an easy-to-use Internet Gateway that organizes information into popular and frequently sought categories. It allows internet users to quickly view and select the best site, category or guide to their area of interest. www.categorE.com also offers a quick jump feature to nine of the most popular search engines on the web including Alta Vista, Excite, Hot Bot, Infoseek (SEEK), Lycos (LCOS), Planet Search, Snap, Yahoo (YHOO) and Webcrawler.
www.categorE.com has in excess of 100 definitive revenue sharing agreements with some of the top merchants on the web including: Amazon.com (AMZN), Autoweb.com (AWEB), BarnsandNoble.com (BNBN), Beyond.com (BYND), Carprices.com, Chapters.ca, Delias.com (DLIA), Dell, Gigabuys.com(DELL), Cyberian Outpost.com, 1800Flowers.com, Goto.com, Impulse Buy(XMCM), Network Solutions, Publishers Clearing House, Xoom.com and many others.
www.categorE.com is a significant internet platform with scope for substantial expansion and development. Strategic marketing initiatives are under review and new developments are anticipated. Proposed terms for the acquisition of www.categorE.com are the issue of 100,000 Serengeti shares, plus options to acquire an additional 900,000 shares for cash, commencing with 100,000 exercisable at $0.20 and increasing by $0.10 per share increments for each 100,000 shares acquired. If all of the foregoing options are exercised Serengeti would receive cash of $540,000.
Serengeti will remain active in mineral exploration including its 25 percent free carried interests in six Tanzanian target areas with the AngloAmerican Group. Serengeti currently has 25.8 million shares outstanding.