VANCOUVER, BRITISH COLUMBIA, Jun 01, 2007 (MARKET WIRE via COMTEX News Network) --
Communicate.com Inc. (OTCBB: CMNN), an emerging growth, debt-free eCommerce company, is pleased to announce the appointment of seasoned Internet industry executive C. Geoffrey Hampson as Chief Executive Officer and Chairman of the Board of Directors, effective immediately.
David Jeffs will continue as Communicate.com's President and will remain a Director of the Company's Board.
Communicate.com is also pleased to announce that Mr. Hampson has invested USD$1 million into the Company through a non-brokered private placement of 1 million units. Each unit consists of a common share of Communicate.com and a common share warrant exercisable at $1.25 per share. As per U.S. Securities regulations, the common shares are restricted and are subject to a minimum one-year holding period.
Mr. Hampson has been a Founder, President and CEO of many successful start-up and operating companies over the last 25 years. Mr. Hampson was CEO and President of PEER 1 Network Enterprises, Inc., an Internet infrastructure company. During his leadership, PEER 1 grew from a small local player with annual revenues of approximately USD$250,000 to one of the largest in the industry, with annual revenues of approximately USD$61,000,000 and data centers and network points of presence in 14 cities across North America and in Europe. Mr. Hampson was the founder and CEO of Novocon International Inc., a manufacturer of fiber products for composite reinforcement until Synthetic Industries acquired it in 1997.
Mr. Hampson commented, "David and the team have done a terrific job in building Communicate.com into one of Canada's fastest-growing companies with a solid foundation for growth. I am thrilled to take the reigns at the Company, and I believe that the opportunity presented is massive. I will focus on significantly increasing the pace of development at the Company and exploiting its abundant premium web assets to ramp revenues over the next 12 to 18 months."
Mr. Jeffs commented, "We were fastidious when choosing the best candidate to lead Communicate.com during its next growth phase. In Geoffrey Hampson, Communicate.com is extremely fortunate to find a leader who 1. Has the grand vision to make the Company a significant player in the eCommerce industry, 2. Possesses the track record to fulfill that vision, and 3. Has the confidence to back up that vision with a major investment in the Company. I am very excited about working with Geoff to build Communicate.com into a major force in eCommerce, and I hope that Communicate.com stakeholders share my view that his involvement as CEO and Chairman represents a great leap forward in the evolution of the Company."
Mr. Hampson intends to enhance Communicate.com's Board of Directors in the near term.
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