Jumbomall - Private Placement

May 17, 2000

Document date: Wed 17 May 2000
Published: Wed 17 May 2000 11:45:59
Document No: 134604
Document part: A Market
Flag: Y
Classification: Placement  

JUMBOMALL.COM CORPORATION LIMITED                      2000-05-17                 ASX-SIGNAL-G

HOMEX - Brisbane

E-commerce technology company Jumbomall.com Corporation Limited (Jumbomall), today announced that 3 million fully paid ordinary shares will be placed to a private professional investor at a price of 8c per share.

The placement will raise AUD$240,000 which will allow the company to pursue strategic alliances and acquisitions beneficial for further growth.

"The growth over the last 6 months and the current cost restructuring places the company in an excellent position to attain profitability earlier than expected", said Mr Veverka, Chief Executive Officer of the Jumbomall. "The focus now is to obtain a cash flow positive position by increasing efficiency and reduce growth related costs".

The directors will not participate in this placement.

For further enquiries, please contact:

Mike Veverka
PH: 07 3831 3705
Fax: 07 3831 9720

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