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Cardinal Factor Enters Into Agreement With Calderone Corporation
Toronto, Ontario - Wednesday, August 2, 2000, 11:20 AM EDT
CARDINAL FACTOR CORPORATION (the "Corporation") (formerly
"Calderone Corporation") is pleased to announce that it has
acquired all the issued and outstanding common shares of Cardinal
Factor Inc. ("CFI"). At a special meeting of shareholders held on
Monday July 17, 2000, the shareholders of the Corporation
approved the acquisition of CFI by authorizing the issuance of
285 Units to the shareholders of CFI in exchange for their
shares. Each Unit is comprised of 50,000 common shares and 50,000
common share purchase warrants exercisable at $0.10 per share for
a period of two years from date of issuance. In connection with
this acquisition, the Corporation has changed its name to its
current form, Cardinal Factor Corporation.
Among all items of business approved, shareholders of the
Corporation also approved the election of a new board of
directors and the creation of directors', senior officers' and
key employees' incentive stock option plan.
CFI is an Ontario based internet business development company
targeting high-growth opportunities in transaction and
subscription-based business-to-business ("B2B") services, run by
a unique and creative group of marketing professionals, software
designers and e-commerce developers whose collective experience
provides a distinct perspective on the changing Internet
landscape. CFI identifies and exploits new business opportunities
through its expertise in technology creation, business
development and finance.
CFI is rapidly deploying its first two business domains:
ReallyFastFood.com (an Internet-based ordering system for the
restaurant and food services industry) and GardenSupply.com (a
B2B marketplace for the garden supply distribution channel). CFI
also owns BWare Software Inc., a developer of business software
The new directors of the Corporation are Messrs. Andrew Colebeck,
Brian Sloan, Michael Aucoin and Bryan Knebel. In addition Mr.
Andrew Colebeck has also been appointed President and Chief
Mr. Colebeck, President and CEO of CFI and BWare Software Inc.,
received a Honours B.A. degree in Urban Geography from the
University of Western Ontario. Between 1988 and 1997, Mr.
Colebeck was engaged in the marketing and communications of
Metropolitan Toronto Parks and Culture Department, presenting the
municipality's 4600-hectare regional parks to local, national and
Mr. Sloan, Chief Technology Officer of CFI, a graduate of the
University of Western Ontario with a B.Sc. degree in Computer
Science, is a self-employed computer consultant who develops
customized fully-integrated web-based client/server applications.
Mr. Sloan is also a Microsoft Certified Systems Engineer
specializing in Web development with MS SQL Server.
Mr. Aucoin, Vice President - Marketing and Business Development
of CFI, graduated from the University of Ottawa and received a
B.Sc. degree with honours in Biology. Mr. Aucoin is currently the
national sales manager of J.M. Smucker Canada Inc., prior to
that, he has held various sales position with the same company.
Between 1996 an 1997, Mr. Aucoin was an account specialist with
Campbells Soup Company Ltd.
Mr. Knebel, Chief Financial Officer of GolfNorth Properties Inc.,
is an owner and developer of semi-private / public golf courses
and related real estate. Prior to that, Mr. Knebel has held
various positions with the Toronto Dominion Bank, primarily in
As a result of the acquisition of CFI, the Corporation has
changed its business nature. Therefore, the common shares of the
Corporation are temporarily taken off from a visible quotation on
the Canadian Dealing Network. The Corporation intends to file an
application for a visible quotation with the Canadian Dealing
Network in the near future. In the interim, all trades in the
Corporation's common shares will be reported to the Canadian
Dealing Network Inc. for trade reporting purposes only starting
July 28, 2000. The Corporation's new symbol is "CAFA".
The current issued and outstanding capital of the Corporation
consists of 15,752,716 common shares and 14,250,000 warrants
exercisable at $0.10 per share for a period of two years ending
July 28, 2002.
For more information, please visit www.CardinalFactor.com or
contact Mr. Andrew Colebeck, President & CEO at (416) 537-5645.
CARDINAL FACTOR CORPORATION
(formerly Calderone Corporation)
55 University Avenue
Suite 705, P.O. Box 24