NEWS! (WNCR) Winchester to acquire interest in fiber optic R+D project
Winchester to acquire interest in fiber optic R+D project
VANCOUVER, June 7 /CNW-PRN/ -
NEWS RELEASE:
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The Company has signed a Letter of Intent with MULTIPLEX RACEWAY SYSTEMS,
INC. (MRS), by which The Company will acquire a minority share position in
MRS, INC., in exchange for the partial funding of MRS', FIBER OPTIC R & D
PROJECT. The Company also retains an option to acquire additional shares in
MRS which would raise their minority position to an approximate twenty five
(25) per cent level. Terms of the agreement are $500,000 U.S. and two million
shares of Winchester Mining Corp. As funding is received by The Company,
monies will be held in escrow until the completion of the full $500,000 U.S.
payable to MRS.
MRS, INC., is a U.S. Corporation registered in the State of Washington
and headquartered in Vancouver, B.C., Canada, whose stated mission is to:
Research, develop and commercialize a fiber optic solution - a Plug and Play
``Optical Access System'' (OAS) -- based on proprietary technology proven to
be theoretically viable.
FIBER OPTICS:
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Fiber optics, by greatly expanding the ability to transmit more
information at higher access speeds, is one of the hottest technology areas of
the 1990s. Investment firms, venture capitalists, industry and governments
have been drawn to this area, having recognized its potential to revolutionize
business and social communications in the early 21st century.
However, there is a limiting characteristic of fiber optic systems that
currently places severe restrictions on system access. Namely, fiber optic
systems are point to point systems that cannot be ``tapped''. In other words,
to place a computer or printer or other device at a particular place on an
optical cable requires the system to be terminated at that point. Various
arrangements are available to tap into a fiber optic cable, or to access the
data streams, but these involve connections at a fixed location where the
cladding on the cable has been removed and the cable bent to permit light to
escape. Such arrangements do not permit access to the signal at a randomly
selected location along a continuum. There is, therefore, a need for a
continuous `optical access system' for providing multiple access to a fiber
optic transmission at infinitely variable locations along a continuum within a
building structure.
THE PROJECT (OAS):
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The vision of MRS and their design development partner Fitch, is to
develop a ``plug and play'' means of accessing a fiber optic distribution
system and delivering, with relative ease and reasonable cost, `fiber to the
desk'. Initial researches into the various aspects of the project have
revealed no terminal weaknesses or conceptual flaws. The market potential for
such a development among business, communications and public sector
enterprises is simply immense.
MARKET OPPORTUNITY FOR MRS' OPTICAL ACCESS SYSTEM
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The Optical Access System promises flexible access to fiber optically
transmitted signals in a more cost effective and efficient manner. This has
the advantages of:
- Decreasing the costs of peripheral access to fiber optic systems.
- Making access to fiber optic systems easier.
- Reducing the time required to access fiber optic delivery within a
system.
``As hardware and components to support fiber continue to
decline in cost and demand for bandwidth and distance rises, it
can be said that for many corporations and institutions the
deployment of fiber optics technology is only a matter of time''.
- Thien H. Mai, University of Maryland Graduate School of
Management & Technology
THE TEAM:
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Fitch: Project Leader. Fitch, is an international business and design
consultancy with offices in, Columbus, Ann Arbor, Boston, San Francisco,
Singapore, Osaka and London, and representatives in France, and Taiwan. It has
over forty years of experience helping companies to achieve ``business success
by design''. Fitch, works in partnership with its clients to develop new
products, create or refresh brands, and build environments in response to
their customers needs. Fitch is part of the Lighthouse Global Network
(www.lgn.com)
Some of Fitch's clients include ABB, AT&T, America Online, Apple
Computers, British Telecom, Compaq, General Electric, IBM, LG Electronics, 3M,
Microsoft, Mitsubishi, Siemens and Sun Microsystems. (www.fitch.com)
Sarnoff Labs: Sarnoff partners and clients gain access to a top
technical staff drawn from disciplines as diverse as physics, materials
science, combinatorial chemistry, molecular biology, IC design, and mechanical
engineering. This team files an average of two patent applications every week.
Their work has won four Emmys, two 1998 R&D 100 Awards, and many other marks
of recognition. (www.sarnoff.com)
PHASE I:
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MRS, INC., is about to enter the `Proof of Concept' phase of the Project.
Upon successful completion of this phase, further prototyping, and extensive
marketing research, would be initiated.
WINCHESTER MINING CORPORATION is pleased to be a part of this exciting
R & D project.
NOTE: CERTAIN INFORMATION AND STATEMENTS INCLUDED IN THIS RELEASE
CONSTITUTE `FORWARD LOOKING STATEMENTS' WITHIN THE MEANING OF THE FEDERAL
PRIVATE SECURITIES LITIGATION ACT OF 1995
SOURCE Winchester Mining Corp.
-0- 6/7/2000
/CONTACT: Wayne Miller, President, Corporate Office, 604-609-0409
To request a free copy of this organization's annual report, please go to
www.newswire.ca and click on reports@cnw/
(WNCR)
CO: Winchester Mining Corp.
ST: British Columbia
IN: CNO
SU: |
