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Darum gestern in Canada um 18,18 % plus

Media Release
For Immediate Release CDNX: HGP


HIGHPOINT TELECOMMUNCIATIONS INC.
EUROPEAN JOINT VENTURE DEVELOPMENTS

Vancouver, B.C., July 6, 2000: Highpoint Telecommunications Inc. ("Highpoint") (CDNX: HGP) is pleased to report a number of developments pertaining to its European joint venture, Kast Telecom Europe B.V. ("Kast Europe"). Highpoint, through its subsidiary, Global Fibernet NV has transferred its 100% interest in Axxon Holding Company B.V. ("Axxon") to Kast Europe in exchange for a 45% beneficial interest in Kast Europe. Kast Europe has also acquired a 100% interest in Kast Telecom Holdings BV ("Kast B.V.").

Kast Telecom will acquire Kast Europe through the issuance of 20,000,000 common shares of Kast Telecom to the shareholders of Kast Europe (on a post-consolidated basis). Upon closing of the acquisition, Highpoint will hold an approximate 33% beneficial interest in Kast Telecom

Kast Telecom Inc. ("Kast Telecom") (CDNX: KST) (formerly, Villaret Resources Inc.; CDNX: VIL) has completed an initial equity financing of US$10 million for operations of the joint venture.

In addition to approving the acquisition of Kast Europe (as described above), the shareholders of Kast Telecom have also approved a number of proposed corporate changes and further activities by Kast Telecom relating to the joint venture, subject to receipt of all regulatory approvals. These include the following:

i. the discontinuance of Kast Telecom as Canadian business corporation under the federal laws of Canada`
ii. the transfer of Kast Telecom`s main place of establishment and corporate head office to Luxembourg;
iii. the change of name of Kast Telecom to "Kast Telecom Europe Inc." or such other names as the directors may determine;
iv. a second equity financing of up to US$30 million;
v. a stock option plan pursuant to applicable Canadian laws and the granting thereunder of options for the purchase of up to 5,300,000 common shares of Kast Telecom by employees, directors, officers and consultants of Kast Telecom and its subsidiaries; and
vi. the election of directors including:

Magdi Houry, CEO and founder of Kast Telecom Holdings B.V.
Kevin Paul, Chairman and CEO of Muir Group.Com
Gordon Blankstein, Vice-Chairman and CEO of Highpoint;
Robert Blankstein, Director of Highpoint;
Donald MacFayden, Chief Financial Officer of Highpoint; and
Brian Bayley, President of Quest Management Corp.
Business of Kast Joint Venture

Kast B.V. is an intelligent-Data, Competitive Local Exchange Carrier (i-D CLEC) based in Southern Europe that supplies advanced telecommunications services to small and medium size businesses. Through its switching and transmission network Kast Europe currently serves eleven cities in France and Italy with telephone, Internet and related customized business applications. Kast B.V. business plan as a pan-European service provider includes additional network, switching and business application services to at least 20 other cities in Western Europe by the end of 2000.

Axxon is a licensed operator in Germany, the Netherlands, Belgium and the United Kingdom, with licenses pending in France.

Kast B.V. and Axxon enjoy highly complementary development strategies and geographic coverage. By bringing the two together, the joint venture will benefit from broader geographic coverage, an enlarged customer base and a strong combination of management experience.

"Kast management has taken what we consider the "supply-side" approach to building its business", said Gordon Blankstein, Chief Executive Officer of Highpoint. "By providing low-cost telephone and data connectivity to its customers, its sales force can then supply higher margin, customized, Internet and business applications solutions. And with growth in the European voice and data markets being second only to those of the US, we see tremendous potential for gains through Kast".

About Highpoint

Highpoint is a European focused international telecommunications company. In addition to its interests in the Kast joint venture, Highpoint also holds interests in Vine Telecom Networks Ltd., which is developing a pan-European high-bandwidth fiber optic network, The North American Gateway Inc., a facilities-based voice and data communications services company and AudroNet Limited, an IP network and services company deploying in Europe the latest software configured IP technology of the Silicon Valley.

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For Further Information Please Contact:

Highpoint Telecommunications Inc. Highpoint Telecommunications Inc
Robert Blankstein Ken Berry
Director Director
[phone] [phone]


THE CANADIAN VENTURE EXCHANGE INC. HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Gruß
hv

[Yannikk]

Kann mir das bitte mal jemand in Groben Zügen ubersetzen??
Danke

[hv_2011]

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