WebQuest International, Inc. announces its intent to acquire a 30% interest in LEADATAinc.
LAS VEGAS--Dec. 19, 2001--WebQuest International, Inc. (OTCBB:WEBQ) today announced that it has agreed in principle to acquire a 30% interest in LEADATAinc in a transaction that is anticipated to be completed prior to the end of December 2001.William Anthony, President of WebQuest International, stated "This acquisition represents the first step in our strategy to shift WebQuest's focus from Internet games to new business opportunities with emerging growth companies. LEADATAinc represents an outstanding opportunity based on proprietary technology and solid marketing relationships in an industry that is hungry for its product."
LEADATAinc is a startup company formed to acquire and market time sensitive sales leads to the retail automotive industry. The Company utilizes unique relationships to build its data base on a real time basis by acquiring high quality targeted sales leads of prospects that must purchase replacement vehicles. LEADATAinc was incorporated as a Nevada corporation in July of 2001 and is located in Beverly Hills, California. The principals and business associates of LEADATAinc have more than 60 man-years of collective experience in various automotive services industries.
LEADATAinc's proprietary Prospect Management System collects detailed prospect information, incorporates it into a sophisticated database and facilitates the disbursement of sales leads to automotive manufacturers and dealers. It is anticipated that the company's data base will grow at the rate of 4,000,000 people per year. LEADATAinc believes that the database will quickly develop into a valuable asset.
WebQuest International, Inc.'s business activities focus on building the value of its existing assets and using its management team and strategic relationships to develop new business opportunities for young and emerging growth companies.
The statements made in this press release which are not historical facts contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of WebQuest International owning an equity position in LEADATAinc as described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.