Globalmedia.com announces change in listing

Company Actively Searching for New Opportunities and Begins Trading OTC



Apr 17, 2001, 01:00 ET from GlobalMedia.com

    VANCOUVER, April 17 /PRNewswire/ - GlobalMedia.com announced today that,
 at the close of business on April 16, 2001, the Nasdaq Listing Qualification
 Panel (the "Panel") denied its appeal of the Nasdaq staff's decision to de-
 list Global's common stock from the National Market System. Accordingly,
 GlobalMedia's common stock will be traded on the NASD Over-the-Counter
 Bulletin Board under "GLMC" effective Tuesday April 17, 2001.
     Michael Metcalfe, Chairman, stated that, "Management and the Board of
 Directors have been working very hard to keep the company running while
 continuing to serve their customers. These operations include the following:
 
     -  Transition of Global Media Customers to the Surfernet Radio Network
     -  Worldhockeynet site development and management
     -  Oversees NFL site development with Fantastic Corporation
 
     The company has been engaged in the serious review of a number of
 opportunities in the digital and retail spaces, and hopes to make an
 announcement that would be beneficial to all stakeholders and creditors in
 GlobalMedia.com."
 
     Forward-looking Statements. This announcement contains forward-looking
 statements that are subject to significant risks and uncertainties. Although
 GlobalMedia believes that the expectations reflected in its forward looking
 statements are reasonable, GlobalMedia can give no assurance that such
 expectations or any of their forward looking statements will prove to be
 correct and future results may differ from those discussed in this press
 release. Actual results may differ materially due to a number of risks,
 including technological and operational challenges, and the need for
 GlobalMedia to raise additional capital to fund operations and pay outstanding
 liabilities while implementing its restructured business plan, changes in
 consumer preferences and developments affecting the Internet. Readers are
 cautioned not to place undue reliance on these forward-looking statements,
 which speak only as of this date. The inclusion of any statement in this
 release does not constitute an admission by GlobalMedia or any other person
 that the events or circumstances described in such statement are material.
 
 

SOURCE GlobalMedia.com
    VANCOUVER, April 17 /PRNewswire/ - GlobalMedia.com announced today that,
 at the close of business on April 16, 2001, the Nasdaq Listing Qualification
 Panel (the "Panel") denied its appeal of the Nasdaq staff's decision to de-
 list Global's common stock from the National Market System. Accordingly,
 GlobalMedia's common stock will be traded on the NASD Over-the-Counter
 Bulletin Board under "GLMC" effective Tuesday April 17, 2001.
     Michael Metcalfe, Chairman, stated that, "Management and the Board of
 Directors have been working very hard to keep the company running while
 continuing to serve their customers. These operations include the following:
 
     -  Transition of Global Media Customers to the Surfernet Radio Network
     -  Worldhockeynet site development and management
     -  Oversees NFL site development with Fantastic Corporation
 
     The company has been engaged in the serious review of a number of
 opportunities in the digital and retail spaces, and hopes to make an
 announcement that would be beneficial to all stakeholders and creditors in
 GlobalMedia.com."
 
     Forward-looking Statements. This announcement contains forward-looking
 statements that are subject to significant risks and uncertainties. Although
 GlobalMedia believes that the expectations reflected in its forward looking
 statements are reasonable, GlobalMedia can give no assurance that such
 expectations or any of their forward looking statements will prove to be
 correct and future results may differ from those discussed in this press
 release. Actual results may differ materially due to a number of risks,
 including technological and operational challenges, and the need for
 GlobalMedia to raise additional capital to fund operations and pay outstanding
 liabilities while implementing its restructured business plan, changes in
 consumer preferences and developments affecting the Internet. Readers are
 cautioned not to place undue reliance on these forward-looking statements,
 which speak only as of this date. The inclusion of any statement in this
 release does not constitute an admission by GlobalMedia or any other person
 that the events or circumstances described in such statement are material.
 
 SOURCE GlobalMedia.com