News Release:
www2.cdn-news.com
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FOR: ORIOLE SYSTEMS INC
VSE SYMBOL: OOL
MARCH 29, 1999
Oriole Systems Filing AIF
VANCOUVER, BRITISH COLUMBIA--Mr. Al Gerenser, president of Oriole
Systems Inc., OOL-V, reports that the company is finalizing the
filing of an AIF (annual information form) with the British
Columbia Securities Commission. Rather than a one-year hold on
shares purchased in a private placement financing, the hold period
is reduced to four months, which makes Oriole more attractive to
investors.
Oriole Systems is in growth mode, both by selling software and by
making acquisitions. Oriole recently announced their intended
acquisition of Interactive Trading Network Inc., a private company
that specializes in "digital marketing"(March 11 News Release).
Private companies, in particular, have a big incentive to be
acquired by a public company as it affords the company vertical
integration for its products, and allows companies to retain key
personnel, through incentive stock options. It is also easier to
raise capital if you are public which is necessary to keep
software "state of the art".
Oriole Systems has exceptionally competitive software solutions
for enterprise-wide, web-enabled technologies. Oriole's alliances
and/or business partnerships with IBM (SanFrancisco Project),
NCompass Labs (Resolution TM) and Magic Software Enterprises
(NASDAQ, MGICF), further enhances Oriole's competitiveness in
targeting mid-sized and large organizations, as well as public
sectors and boards, for mission critical applications for
financial management. Oriole provides Internet software solutions
for e-commerce, which makes it possible for computers to
communicate and transact business, seamlessly through the
Internet.
For more information on any of the above companies, please view
the websites at www.oriolesystems.com for Oriole Systems,
www.ncompasslabs.com for NCompass, www.ibm.com/java/sanfrancisco
for IBM and www.magic-sw.com for Magic Software.
This news release may contain forward-looking statements
considered genuine by the author and are based on the author's
experience and knowledge. However, the outcome will ultimately be
determined by forces of which the author may have little or no
ability to affect. Any forward-looking statements should not be
considered guarantees of results.
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