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All Press Releases for September 21, 2000 Subscribe to this News Feed    
 

PARADIGM AND PANGEA FINALIZE JOINT VENTURE

Contacts:   
   
Stanley Wunderlich   
Consulting For Strategic Growth, Ltd.   
Public Relations   
Corporate Development Consultants   
Tel: 800-625-2236   
Fax: 516-625-4523   
Email: cfsg@iname.com   

Selwyn Wener
Chief Financial Officer
Paradigm Advanced Technologies, Inc.
Tel: 905-707-2158
Fax: 905-707-7106
Email: swener@powerloc.com
Web site: www.powerloc.com

Toronto, September 19, 2000 - Paradigm Advanced Technologies, Inc. (OTCBB:PRAV), and Pangea Petroleum Corporation of Houston, TX (OTCBB:PAPO) announced today the closing of their agreement to form a joint venture called WorldLink USA, LLC. The new joint venture will be 50% owned by each company and funded by the issuance of shares and warrants by Paradigm and warrants by Pangea to the joint venture.

The primary activity of the joint venture will be to act as an incubator in seeking out companies with technologies in which WorldLink can make appropriate investments in new and complementary technologies. Pangea has transferred its video streaming technology and associated production and service business into this joint venture. WorldLink USA has been a provider of live and on-demand media production services and content hosting using Microsoft Windows audio and video streaming media technologies.

The creation of the WorldLink USA joint venture creates an entity that positions us to invest in strategic and emerging technologies, that complements our core businesses," said Eduardo Guendelman, President and CEO of Paradigm. We are making dynamic progress in our principal businesses - the development and licensing of our GPS/cellular-based location tracking L-Commerce technology. We have announced a number of important contracts and have closed the patent rights acquisition which now enables us to increase our licensing activities."

We are delighted about the establishment of the WorldLink USA joint venture which should create exciting opportunities for both companies while allowing each company to focus on its core operations," said Charles B. Pollock, CEO and Chairman of Pangea. We are concentrating on our oil and gas business and are following up on a number of very significant developments."

About Paradigm Advanced Technologies, Inc.
Headquartered in Toronto, Paradigm Advanced Technologies, Inc. (www.powerloc.com) is a world-leader in wireless location-based electronic commerce (L-Commerce). Paradigm owns the exclusive licensing rights to a broad-based wireless location patent (US Patent #B1 5,043,736) covering the apparatus and method of transmitting position information from satellite navigational signals (like GPS) over cellular systems to a base unit, and displaying the location of a person or object so equipped. Paradigms ownership covers all fields of use for the patented system, excluding criminal justice applications. Paradigm fully owns PowerLOC Technologies Inc. and Power Point Micro Systems Corporation. PowerLOC provides a comprehensive range of L-Commerce and L-Business products and services including a family of proprietary wireless-location devices for this emerging industry and for location-based service providers (LSPs) in particular.

For additional information, please call CFSG at 800-625-2236. Visit Paradigms web site at www.powerloc.com that showcases some of its advanced new wireless location technologies and products.

About Pangea Petroleum Corporation
Headquartered in Houston, Pangea Petroleum Corporation (OTCBB:PAPO) is a global oil and gas exploration and acquisition firm. Pangea also has interests in real estate and technology.

For more information about Pangea, please contact the company at (713) 933-0377 or Jeff Brommer, Investor Relations at (630) 761-8062.

# # #

This press release contains forward-looking statements that, if not verifiable historical fact, may be viewed as forward-looking statements that could predict future events or outcomes with respect to Paradigm Advanced Technologies Inc., and its business. The predictions embodied in these statements will involve risks and uncertainties and accordingly, Paradigms actual results may differ significantly from the results discussed or implied in such forward-looking statements.

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CONTACT INFORMATION
Barbara Coen
Consulting For Strategic Growth, Ltd.
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