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Knowledge Auction Will Expand to Europe

Demand Ventures Ltd. in Canada, operator of a "knowledge auction site" called Knexa.com, reached an agreement with Futurizer AS of Denmark to work together to establish Knexa Europe.

Futurizer AS is an Internet business accelerator headed by Bjvrn Wolrath, former chief executive officer of global insurance operation Skandia AB.

Knexa.com allows anyone to make money by self-publishing ideas and insights on the Knowledge Exchange Auction. Books, booklets, articles, lessons, papers, advice, how-to's, reports, audio files, video files, memoirs, even a list of time saving links, all can be auctioned, says the company, which charges a small fee for each listing and gets 10 percent of the sale price.

Under the agreement, Demand will own 40 percent of Knexa Europe for which Futurizer is arranging funding in excess of $10 million. Knexa Europe will establish regional Knexa knowledge auctions that will also be a source of content for Knexa.com.

Knexa.com and the regional sites operated by Knexa Europe will share revenues generated by content resulting from each other's marketing campaigns. Also, Demand will issue to Futurizer AS 1 million warrants, each warrant entitling the holder to purchase one common share of Demand stock at a price of $1.32 per share for a period of two years, subject to certain vesting restrictions and the approval of the Canadian Venture Exchange.