JDX.T
VANCOUVER, BRITISH COLUMBIA--Jordex Resources Inc. (Jordex) announced today an investment of US$500,000 in
the US$6.1 million total second round financing of HorizonLive.com, a leading provider of online presentations. Primary
investors include The Argentum Group and First Analysis Corporation. Horizon provides interactive group learning and
collaborative solutions on the Internet. The Company's service connects geographically dispersed individuals via the Internet
allowing real-time and recorded presentations in an interactive, seminar- like atmosphere. Horizon's robust Web-based
presentation tools allow its clients to facilitate corporate training, professional education, and sales/new product updates via the
Web in a timely and cost-efficient manner.
Based in New York's budding ''Silicon Alley,'' Horizon's initial business plan presentation won the prestigious Silicon Alley
Reporter ''Best Plan of the Year'' award, judged by a panel of venture capitalists and industry experts. The Company's strong
management team is led by founder and CEO Bob Clyatt who has nearly 20 years experience in computing and online services
at MIT, Reuters and i/o 360. After two years of development, direct sales commenced in the fall of 1998. Horizon's second
product version 1.2 was shipped in January 1999 and is generating strong orders, press attention and new business. Today
Horizon has successfully established client relationships with companies such as Lucent, Siemens, Prentice Hall, Ericsson,
NASA, 3Com, Thomson Global Markets and others. This list is likely to grow rapidly in the coming years based on estimates
from International Data Corporation that Web-based training and presentations will grow from less than 200 million in 1998 to
more than 5.4 billion in 2001, or 27x in 3 years.
Horizon's product is a compelling new alternative wherever the human touch is needed to make information come alive, but
logistics and costs make travel prohibitive. Utilizing a common Web browser, Horizon connects a presenter and an audience.
The speaker's voice and presentation materials are ''pushed'' to the participants located anywhere on the Internet or company
intranet. The experience is interactive since the participants can type questions or responses back to the presenter, and to each
other. Horizon is purported to have several powerful features, unique among live online training delivery solutions: automatic
firewall access, zero-latency, live or archived audio and video entirely via the Internet.
''Horizon's prominent and fast growing client list demonstrates the usefulness of its product concept'', said Brian Hinchcliffe,
Chairman of Jordex. ''We are excited about the opportunity to share in Horizon's vision of bringing the world closer together
through this interactive Web-based medium. Their product truly adds value to any organization previously thought to be
restricted by distance from their employees or clients.'' In addition Mr. Hinchcliffe said, ''We are pleased to be participating
with The Argentum Group in this financing round of Horizon which is the first of its kind since formalizing our strategic
co-investing alliance in November.''
About Jordex
Jordex, trading under the symbol JDX on the Toronto Stock Exchange, is developing a portfolio of B2B e-commerce and
telecommunications companies. Jordex seeks to build shareholder value by making investments in the early financing rounds of
high-growth opportunities. Jordex announced earlier this year its investment in Medsite.com, a B2B medical Internet community
for physicians. Through an additional investment, the Company recently increased its number of preferred class B shares in
Medsite to maintain its proportionate ownership in the most recent financing round. Additionally, the Company has signed a
letter of intent to acquire 100% of Enviromation, Inc. which is in the business of designing, manufacturing, installing and
servicing control systems for water treatment facilities. Jordex intends to expand Enviromation's markets by expanding its
distribution channels, including utilizing the power of marketing over the Internet. Jordex also recently announced strategic
alliances with venture capital firms, The Argentum Group and MF Private Capital, Inc., the latter agreement which is subject to
regulatory approval. www.jordex.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Brian A. Hinchcliffe, Chairman & co-CEO |
