This Press release this morning,
Wednesday March 10, 7:31 am Eastern Time
Company Press Release
Innovative Holdings and Valu-Net to Build Global Internet Sports and E-commerce Portal
WINTER PARK, Fla.--(BUSINESS WIRE)--March 10, 1999--Innovative Holdings & Technologies, Inc. (OTC BB:IHTL - news) and its wholly-owned subsidiary Global Sports Network, Inc., a virtual Internet leader in the ''Total Sports Experience,'' have entered into a strategic alliance with Valu-Net Corporation (ASE:VNE - news), an Ontario, Canada-based international Internet marketing and Electronic Commerce provider.
This initiative will enable sports enthusiasts to access real time information, statistics and unique e-commerce shopping opportunities worldwide.
''Our collaboration with Valu-Net will be a key element in our overall strategy to make the Global Sports Network (GSN) the key link in bringing a brand new level of sports information and e-commerce to the Internet community,'' said Helmut Wyzisk, president & CEO of Innovative Holdings & Technologies, Inc. ''Valu-Net will help us create a virtual Internet portal site that links all of the sports venues from around the world featured on GSN, and related links to e-commerce sports shopping malls.''
David Lucatch, president of Valu-Net Corporation, said that, ''Not only will we bring critical Web marketing concepts and technologies to GSN, but also vital world-wide Internet expertise since this new sports network will be featuring sports venues and e-commerce products to huge audiences outside North America.''
Innovative Holdings & Technologies, Inc. identifies, acquires and incubates early stage niche technology companies with outstanding growth potential. The company has also entered into a strategic alliance with iChargeit.Com (OTC BB:PLNKD - news) to present virtual games and sports product marketing on their e-commerce Internet site. Through its Xtreme Telemetry Systems, Inc. subsidiary, IHTL is aggressively developing strategic alliances and joint ventures with key corporate players and broadcast networks like ESPN/ABC (NYSE:DIS - news), Fox (NYSE:FOX - news) and Turner Broadcasting (NYSE:TWX - news). IHTL is also developing a Sports Training Division with applications including Thoroughbred Horse Racing, Olympic Training, X-Sports, Boxing, Golf, Skiing, Tennis, Motorsports and many other action sports venues.
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