Bingo.com, a high technology Internet Company, announced that they have signed a definitive agreement hiring Stratford Internet Technologies and Mindquake Software to develop the first FREE Bingo-based e-mail community.
The total cost to develop the Bingo.com destination site is estimated at U.S. $1.3 Million.
The company purchased the domain name Bingo.com for an aggregate purchase price of U.S. $1.1 Million. Of this purchase price, $200,000 is payable in cash on or before January 27, 1999, in addition to the issuance of 500,000 common shares of the Company, and an ongoing quarterly payment equal to 4% of the gross revenue of the Company.
Stratford Internet Technologies is located in Vancouver, BC, Canada. Stratford's development team created the award winning discovervancouver.com destination site.
Mindquake Software is a world class software development firm located in Vancouver, BC specializing in Internet software solutions.
The destination site "Bingo.com" is expected to be operational by April 30, 1999 and will be launched in conjunction with a national radio and media campaign as the world's first free "bingo-based" e-mail/web page community. "Bingo.com" will combine news and lifestyle information in a fun and exciting interactive environment surrounding the age-old game of Bingo. "Bingo.com" plans to be the future home of the million dollar jackpots, with exciting promotional draws and FREE giveaways.