Jaws' Signs Agreement To Distribute Information Se
Jaws' Signs Agreement To Distribute Information Security Products And Services Into The Pacific Rim.
JAWS' information security services and products to access world's largest consumer markets through Hong Kong office; globalization of business evident through agreement allowing China access to World Trade Organization
JAWS Technologies Inc. (JAWZ: OTC-BB) announced today that it has signed a marketing alliance with CobraTech Industries Inc. of Hong Kong and Vancouver, Canada to market its information security services and products into the rapidly opening Pacific Rim business and e-commerce markets.
``We believe that the Asian and South Pacific markets are opening up and it is important to be there to ensure that JAWS' is front of mind when Pacific Rim businesses and governments address their information security needs,'' said Robert Kubbernus, Chairman and CEO, JAWS Technologies. ``CobraTech is a new information technology security marketing company which has established offices in Hong Kong and Vancouver and will actively target Hong Kong, India, Australia, New Zealand, Singapore, Malaysia, China, Japan, South Korea and Thailand. We believe that this gives JAWS a no-risk opportunity to enter these markets with our industry leading products and services.''
CobraTech's principles and management have 30 years high technology and information systems integration experience throughout Asia, with one of the principles having served as founder and CEO of a large Asian high technology firm.
The terms of the four-year agreement allow JAWS to receive a 25 per cent royalty of CobraTech's gross sales of JAWS' products. CobraTech has forecasted gross sales revenues for 2000/2001 at US $3 million, with increasing growth rates continuing through the length of the contract. Complete operations will open in Hong Kong in January 2000. JAWS will also take a 25 per cent ownership interest in CobraTech.
``Demonstrated by the U.S. and China trade agreement announced earlier this week, business and regulatory relationships between North America and Asian markets keeps improving. We are encouraged by the creation of a pro-business environment in China, which supplements the continued growth of other Pacific Rim countries,'' said Richard Hawkins, Chief Operating Officer, CobraTech Hong Kong. ``With organizational expenditures of the Y2K issue diminishing, we believe that information security is the next major opportunity in the Asian information technology market. From our business centre in Hong Kong, we believe we are well located to contact and provide front-line representation for the information security needs of major clients. With JAWS servicing customers from its locations in Canada and the US, we can assure our customers of excellent support.''
Hawkins also noted, ``From Vancouver and Hong Kong, we are confident that we can establish important relationships with customers in the South Pacific, most notably Australia and New Zealand.''
About CobraTech Industries Inc.
CobraTech Industries is a B.C. registered corporation, with offices in Vancouver and Hong Kong providing the sales and marketing support for JAWS Technologies' information security products and services, and other IT companies in the Pacific Rim. CobraTech may be contacted in Canada at (604) 732-1763 or on the web at www.cobratechnologies.com.
About JAWS Technologies: ``Information is Power. Protect It.'' JAWS Technologies is a leader in the provision of information security technology products, consulting services and secure Internet data storage services for key client groups including governments, healthcare, legal and accounting, financial services, e-commerce and application service providers.
JAWS' is based in Calgary, Canada and has offices in Toronto, Canada and Pasadena, California, USA. Throughout the world JAWS has over eighty employees, twenty strategic partners, approximately 100 corporate clients, over 300 authorized re-sellers and has distributed approximately 580,000 copies of JAWS XMail, an email software program utilizing a 4096-bit encryption technology. JAWS Technologies is traded on the NASD-OTC BB, under the symbol JAWZ. For more information, visit the company's website at www.jawstech.com or call 1-888-301-5297.
Forward-looking statements and comments in this press release are made pursuant to safe harbor provisions of the Securities Exchange Act of 1934. Such statements relating to, among other things, the prospects for the companies to complete the transaction and enhance operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature. These risks may be further discussed in periodic reports and registration statements to be filed by the Company form time to time with the Securities and Exchange Commission in the future.