IVP Technology Corporation Announces New President, Acquisition of 'Power Audit' Rights for European Economic Community and Launching of New Website
PR Newswire - August 03, 1999 16:23
MISSISSAUGA, Ontario, Aug. 3 /PRNewswire/ -- IVP Technology Corporation (OTC Bulletin Board: TALL) announced today that the Board of Directors has appointed Mr. John Maxwell as President of the company. Mr. Maxwell brings over thirty years of marketing experience in North America and Europe to IVP and will be immediately concerned with completing assembly of the IVP marketing team responsible for the packaging and sale of Power Audit software. IVP owns the American marketing rights to Power Audit software which provides a reliable platform for remote data collection and the rapid turn-around of current market data. Getting the right data into the hands of corporate decision-makers quickly, efficiently and cost-effectively is the key to market intelligence. Power Audit's software suite delivers on all fronts and will give IVP's clients the kind of advantage they need to win in intensely competitive markets.
In a related corporate development designed to take advantage of Mr. Maxwell's European software distribution network, IVP has reached an agreement in principle with Orchestral Corporation ("Orchestral"), the Canadian electronic software developer which designed and developed Power Audit software. Orchestral has agreed to grant IVP the right to market Power Audit in the European Economic Community for one year with the right to extend the agreement provided certain sales targets are achieved. This license will be secured in consideration for the issuance from treasury and delivery to Orchestral of one million (1,000,000) common shares of IVP and adoption of a royalty schedule identical to that granted to Orchestral in connection with IVP's licensing of the American rights to Power Audit.
Armed with the right to market Power Audit in the two largest and most competitive markets in the world, the United States and the European Economic Community, IVP is well equipped to secure a significant market share in the $4 billion dollar information services market.
IVP is also pleased to announce the launching of the company's new web site. For current information on IVP or Power Audit software please visit us at www.ivptechnology.com or contact Sharpe Capital Limited, Investor Relations Consultants at 1-800-381-5272.
A number of statements contained in this release are forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties. The timely development of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing are possible risks. The actual results that IVP may achieve may differ materially from any forward-looking statement due to such risks and uncertainties.
SOURCE IVP Technology Corporation
/CONTACT: Sharpe Capital Limited, Investor Relations Consultants for IVP
Technology Corporation, 800-381-5272/
/Web site: ivptechnology.com
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