Welland Ontario, April 21, 2004 - Andromeda Media Capital Corporation Limited has acquired Belcom Canada Inc, a private network consulting and project management firm that specializes in custom software development and network consulting/management. The purchase of Belcom will enable Andromeda and its eBusiness division, ecommatrix. com® inc. to better meet client needs and expand the ecmSuiteTM product line.
Belcom brings a team of over 30 programmers, networking specialists and senior project managers. Dennis Sherbakov, owner and majority shareholder of Belcom, will join Andromeda and e-commatrix.com ® inc. as the Vice President of Technology. He will oversee all aspects of client project development and execution from a technology perspective.
“In the past, Belcom and Andromeda have collaborated on a number of client projects and this acquisition brings together two powerful teams,” said Albert Iannantuono, President & CEO, Andromeda Media Capital Corporation Limited. “The wealth of knowledge and experience we have gained through Belcom will serve to enhance our own service offerings, enable us to come to market faster with new products, and offer improved services to our clients.”
The acquisition also provides Andromeda with several proprietary technology products, which will now be marketed through e-commatrix.com® inc.’s international network of licensed partners.
Andromeda, through its wholly owned subsidiary, e-commatrix.com® inc., is focused on providing breakthrough eBusiness and eCommerce proprietary products and services. These products are introduced to market through an international network of licensed partners as complimentary product lines to their existing solutions, and under a progressive revenue-sharing model. e-commatrix.com® inc. aggressively sources new partners worldwide.
Issued and outstanding capitalization as at April 1, 2004 –3,395,472 common shares. No stock exchanges have reviewed or accepted responsibility for the adequacy or accuracy of the content of this press release.
Certain statements contained herein constitute forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and 21E of the Exchange Act of 1934. Such statements include, without limitation, statements regarding business and financing, business trends, and future operating revenues and expenses. Statements regarding the aforementioned are based on several assumptions and are not to be considered fact. Although Andromeda Media Capital Corporation Limited and e-commatrix.com® inc. believe that the statements are reasonable, it can give no assurances that such expectation will prove to be correct. Investors are cautioned that any forward-looking statements made by Andromeda Media Capital Corporation Limited or e-commatrix.com® inc. contain no guarantee of future performance and that actual results may differ materially from those set forth in the forward-looking statements. For additional information see the reports filed by the company in its securities filings with applicable securities regulators (currently available at www.sedar.com). Unless otherwise required by applicable securities laws, Andromeda disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.