December 20, 1999
Hansa.net Global Commerce, Inc. ("Hansa.net") launches a new Anguillian public company, AXA.NET Communications, Inc. ("AXA.NET") with the intent to seek approval from the Government for a competitive telecommunications license for Anguilla.
Lynwood Bell, President of Hansa.net says "This action is the exciting outgrowth of months of discussion with leading Anguillian businessmen and technical developers who foresee Anguilla as a major center for Internet activity. European Union directives which may influence Anguilla support competition in this communications sector. This initiative also follows announcements by the incumbent common carrier of its acceptance of this competitive trend among other nations in the Caribbean and worldwide. Indeed, studies and actual results show that incumbent telephone companies may do better with competition than without."
The AXA.NET initiative has three main objectives. The first is to establish much needed competition on price, capacity and alternative bandwidth in the telecommunications market. The second is to encourage widely held local Anguillian ownership of the new company as a model for more Anguillian public companies and participation by Anguillians in new technology ventures. The third is to help establish another cornerstone for Anguilla to become a Technology Campus to the world with a focus on e-commerce.
Hansa.net is funding the initial planning with the help of a number of local and foreign advisors. These generous individuals continue to donate their time, experience and seed capital to take the project forward in a proposal to the Government. Success is contingent upon Government approval and the Company cannot assess its chances of that approval at this time. Nonetheless, we are marketing aggressively to companies which would relocate to Anguilla provided the communications prices and facilities become competitive. The Company is also cultivating a number of strategic partners, cable and satellite operators, and sources of public and private financing for capital equipment contingent upon licensing approval.
Mike Ward, Vice President of Hansa.net and the Corporate Secretary of AXA.NET says, "Another major goal of the new company is to drive forward the legislation that is necessary in a world profoundly changed by the Internet and other new forms of telecommunication. There are many issues including privacy, digital commerce and electronic payment forms in which Anguilla is already playing a leading role. This is due to the Island's prominence with groups such as the International Financial Cryptography Association which meets in Anguilla each February and companies such as Hushmail which has over 100,000 users registered in Anguilla. We are already heavily involved and committed to working with Government to achieve world class legislation in this emerging field. The economic potential for Anguilla is substantially greater than the existing offshore finance sector but is also complementary to it."
The Canadian Venture Exchange has neither approved nor disapproved of this release