Jordex.TO on the prowl again:
JANUARY 4, 2000
Jordex Invests in Bizfon, The Small Business Telephony
Solution
VANCOUVER, BRITISH COLUMBIA--Jordex Resources Inc. (Jordex),
adding to its portfolio of B2B e-commerce and telecommunications
companies, has made an equity investment of US$500,000 in Bizfon
Inc., a leader in small business phone systems. Advent
International and MF Private Capital Inc. are the primary
investors in this US$13,000,000 financing. Bizfon Inc. is a
developer of integrated communications hardware and software. The
Company's primary product is a communications switch that
incorporates call management, voice mail, and automated attendant
in a single, low cost package.
Bizfon Inc., founded in November 1996, and headquartered in Salem,
NH, is led by CEO David Grabrielsen who has successfully managed
publicly traded companies. The Company's products provide an easy
to use communications solution for a potential market of more than
10 million small businesses (less than 20 employees) in the United
States and Canada by providing them with a full featured phone
system at a price point (under $2,000 for complete system) that is
more affordable than the $5,000 to $20,000 cost of a typical full
featured phone system. Unlike traditional phone systems that are
too complicated and expensive for small businesses to install and
maintain, Bizfon's easy to install "plug and play" phone system
provides a turnkey communications solution. In as little as
fifteen minutes, customers can call the Bizfon customer care
center to set up the system remotely over the phone or utilize the
voice prompts in the system to get their phone system up and
running. According to International Data Corporation, more than
85% of the 10 million small businesses (less than 20 employees)
have historically been forced to run their business using archaic
one or two line phones and answering machines. The absence of
advanced features of one or and two-line phones have adversely
impacted small business by contributing to reduced responsiveness
to customers, low satisfaction and ultimately lost customers.
Bizfon has entered into a distributing agreement with Bell Canada
to distribute their products on a co-brand basis. After extensive
research of all products targeting small businesses and rigorous
testing of Bizfon's products, Bell Canada has purported that
Bizfon's products provide the most features at the lowest cost.
Bizfon is in discussions with several additional North American
based telephony companies regarding a similar distribution
agreement. In addition, it is developing a direct sales force to
sell direct to corporations with hundreds of remote locations.
The Company is working on upgrades to its current model Bizfon
680, a six telephone line system, that will eventually enable 24
telephone lines and 32 extensions. Bizfon is also working on a
DSL interface to be field tested in the fourth quarter of the year
2000.
"Our investment in Bizfon gives Jordex the opportunity to
participate in the rapidly changing and fast growing
telecommunications sector," said Brian Hinchcliffe, Chairman of
Jordex. "Bell Canada's contractual relationship with Bizfon,
validates the quality of their phone systems, and the need for
such a product in the small business market."
About Bizfon
Bizfon Inc., a privately held company located in Salem, NH, is a
developer of integrated communications hardware and software. The
Company's customer base is the small business office to which
Bizfon markets a full featured phone system at a cost more
affordable than typical competitive full featured phone systems.
The Company sells direct to corporate clients and through
distribution agreements including an agreement to co-brand Bizfon
products with Bell Canada. bizfon.com
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 last 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 lastest
round. Recently Jordex invested in HorizonLive.com, a leading
provider of online presentations. 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 has also announced strategic alliances
with two venture capital firms, The Argentum Group and MF Private
Capital, Inc., the latter agreement which is subject to regulatory
approval. jordex.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Brian A. Hinchcliffe, Chairman & co-CEO |
