 |
October 2, 2006 |
OceanLake executes license agreement for mobile e-mail across North America Milestone agreement triggers first payment of the $3 million dollar staged license fee with final installment due early 2007 Toronto – October 1, 2006. OceanLake Commerce Inc. (OLI-TSX Venture) is pleased to announce that it has executed the formal licensing agreement previously announced in a press release on September 18, 2006, (“Agreement”) granting SkyNet Marketing (“SkyNet”), the North American license to offer OceanLake’s e-mail-to-mobile-phone (“WP Mail”) service direct to consumers OceanLake's WPMail allows users with any internet-enabled mobile phone or PDA to send and receive e-mail from their existing e-mail accounts at a fraction of the cost of the Blackberry® or similar services. Under the terms of the Agreement, OceanLake will receive a license fee of $3 million dollars payable in full by early 2007 and a royalty on the gross revenue generated through the marketing and use of WP Mail. OceanLake is also guaranteed a revenue stream through the provision of management and technical support services to SkyNet for a predetermined fee. SkyNet is on-track to begin offering WP Mail directly to mobile phone users, regardless of the carrier they use, across North America in early 2007. The introduction of these services to North America will significantly build on the more than 50 million users in the South Asian region with access to OceanLake’s Mobile Gateway and WP Mail. “Having achieved this important first milestone in North America, we look forward to working with our partners at SkyNet to drive revenue by attracting a large number of the over 260 million internet-enabled mobile phone and PDA users in North America”, stated William Car, President and CEO of OceanLake. “WP Mail allows users to send and receive e-mail as easily as sending a text message. There is no new hardware to buy and no expensive long-term contracts. Plus, it allows a user to aggregate several different e-mail accounts on their mobile phone”, added Car. “We are pleased to cement our partnership with OceanLake to bring affordable, mobile e-mail to anyone with an internet-enabled mobile phone or PDA”, said Sylvain Villeneuve, President of SkyNet. “We believe that giving people easy access to their e-mail accounts from their mobile phone or PDA is the next important evolution in mobile telecommunications”, added Villeneuve. For more information about OceanLake, please go to www.oceanlake.com For more information about SkyNet Marketing: Sylvain Villeneuve Tel: +1 514 941 5568 |
|