April 9, 2000 - News Release overnight for Monday Market Opening:
Indocan Resources Acquires ILASOFT inc.
Vancouver, BC April 10, 2000 ? Indocan Resources Inc. OTC: IDCN
SOFTWARE VENTURE TO DOMINATE NORTH AMERICAN MARKET
Indocan Resources Inc. announced today that it has purchased all the issued and outstanding shares of ILASOFT inc., a Montreal based software development company.
ILASOFT has developed a series of applications using intelligent agents to support the design, development and delivery of educational and training programs for manufacturers, service companies, financial institutions, insurance companies, universities, colleges and other educators. ILASoft's key strengths of strong vision, state-of-the-art technology and market niche should lead to our domination of the North American Market.
ILASOFT will be driven by its customer's needs for its product. ILASOFT has relationships with a number of companies that will incorporate its product in their systems. Our products enable true collaboration between desktop systems and traditional textbooks. Our cache products also facilitate the use of high quality software educational materials.
ILASOFT will give its customers access to tools to enhance the use and application of information tailored to their business-to-business or business-to-consumer requirements and achieve required economies. The use of ILA's (intelligent learning agents) can significantly enhance the time involved and ease the design, development and delivery of competency-based training programs. These agents can also be used to individualize training delivery through computer-based delivery such as CDROM, corporate Intranet and the WEB or Internet. Software incorporating ILA's can shorten design and development phases significantly and have great commercial value as they can help large companies, third party training and development companies as well as public teaching organizations produce at reduced cost with greater speed and diversity.
Indocan Resources is a mining prospector company with diversified interests primarily in Canada. Its website can be viewed at www.indocan.com and ILASOFT will soon have a website at www.ILASoft.com that will give greater detail to this exciting software technology.
Near-term future plans call for the spin-off of the ILASOFT division into its own publicly quoted vehicle. Parties interested to learn more of the software project should contact Nicolas Greco at ILASOFT in Montreal (514) 344 3393 or email: nbgreco@ilasoft.com
WARNING, this Company relies on litigation protection for forward-looking statements.
Technical Report of ILASoft Product
April 6, 2000 ? We have closed the purchase of the technology Software Company. The new company web site will not be ready until at least Friday so we will make a detailed public news release once this information can be published, probably Monday next week.
April 2, 2000 ? On March 15, 2000 the Company entered into a Letter of Intent with a software development company in Montreal, Quebec. This contract is to purchase all their issued and outstanding shares with the issuance of Indocan Resources stock. The intention will be to spin-off the Tech Company as we are doing with Spirit River Resources Corporation. Both blind pools for these transactions should be ready for trading in about three weeks.
Like Spirit River, there will be a record date set for the share dividend in the new wholly owned subsidiary.
The Tech Company has leading edge software technology, patents pending and a very significant Internet application for its products. The markets for its products are large corporations and governments among others. When we close the deal more details of the product line will be made available.
Management is in Montreal early this week to close the purchase of the Tech Company and it will be announced via a public news release. |
