GO CALL ANNOUNCES LETTER OF INTENT SIGNING WITH MADISON & GRANT
(Canada Newswire; 04/16/98)
TORONTO, April 16 /CNW/ -- Go Call is pleased to announce the signing of a
letter of intent with Madison & Grant Bancorp Limited, outlining the agreement
for zero liability funding of between $100 million and $1 billion USD to
facilitate the placement of Go Internet Kiosks/ATMs throughout a North
American network of approximately 53,000 convenience stores. Go Call Inc. (
http://www.go.ca ) is a multi-faceted telecommunications company trading on
NASD(OTC) under the symbol GOCA. Madison & Grant is a company specializing in
raising capital for high return, specialty niche ventures. The record of the
principals of Madison & Grant in founding and building successful businesses
include: The Second Cup Ltd., Proshred Security, Samaritan Air Service Ltd.,
the Audiotext Partnership, and Medi-Call.
The recent deregulation of the ATM market and the unprecedented growth of
the Internet make this the ideal opportunity to provide the service and
convenience of both of these industries to the general population. The Go
Internet Kiosk/ATM program, which will allow complete access to the Internet,
will be launched initially within the contract base of 23,000 stores and then
expanded through the remaining 30,000 affiliated locations.
The Agreement between Go Call Inc. and Madison & Grant calls for a 5 year
revenue stream to provide for the investors, the store proprietors and the
company. At the end of this period the physical assets are to be passed, free
and clear, directly to Go Call Inc.