Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : NAUGHTY NOTES-SHORT TERM STOCK TRADING IDEAS -- Ignore unavailable to you. Want to Upgrade?

To: CIMA who wrote (556)	6/10/1999 12:20:00 PM
From: NAUGHTY NOTES	Read Replies (2) \| Respond to of 751

Attention Business/Technology Editors: Hansol Telecom selects ivyNET Inc. to be its VoIP solutions partner TORONTO, June 10 /CNW/ - The Company is pleased to report that its wholly owned subsidiary, ivyNET Inc., has signed a ''Letter of Intent'' with South Korean based Hansol Telecom Co., Ltd., to cooperate in the development and marketing of IP Telephony Solutions and Services throughout South East Asia. Within the scope of this agreement both parties intend to develop and market: - Enterprise solutions implementing ivyNET's core IP Telephony technology. - An OEM relationship leveraging Hansol's brand in the Korean and Asian market. - International services that will utilize ivyNET's international network and Hansol's infrastructure in Korea to carry international telecommunications traffic between Asia and North America. The Parties intend to jointly define relevant roles and responsibilities in order to conclude a ''Joint Marketing Agreement'', not later than July 31, 1999. The basis of this agreement will be the provision of industry leading IP Telephony solutions to the Asian market. Hansol Telecom Co., Ltd. is one of 16 business units that comprise Hansol Group, (www.hansol.co.kr), one of South Korea's largest corporations. The information/telecommunications and manufacturing groups represent Hansol's core businesses. Other Canadian companies partnering with Hansol include Bell Canada International with a 23.6% interest in Hansol PCS and Abitibi Consolidated's joint venture with Hansol Paper to form a global newsprint organization. Hansol Telecom President & CEO, K. M. Kim, recently advised the Company that it established a task force in July, 1998, with the specific mandate to identify a VoIP (Voice over Internet Protocol) solution partner. This exercise has concluded in the selection of ivyNET Inc.'s 51% owned subsidiary, SL Electronics Co. Ltd., as Hansol Telecom's VoIP partner. ''We believe Hansol's decision to partner with us represents tremendous validation of our VoIP technology. With Hansol as a partner we are immediately positioned to access a large, existing distribution channel with the mutual goal of building a ''brandname'' for our technology within these respective Asian markets,'' states ivyNET President & CEO, Stephen Paquette. Unrelated to the above, the Company reports the resignation of Mr. Chris Sohn as an Officer and Director of the Company. Mr. Sohn will continue to serve the Company as a consultant. Further, the Company is pleased to announce that Mr. Sang Un Yoo has joined the Company as a member of the Board of Directors. In addition, Mr. Yoo has assumed the position of Co-CEO of SL Electronics Co. Ltd., a 51% controlled subsidiary of the Company. Mr. Yoo has held numerous senior management positions in the telecommunications industry in Korea, Japan and Taiwan. Mr. Yoo was Managing Director of Kodenshi Telecom Division in Korea, responsible for overseas marketing of Deutsche Telecom, British Telecom, Northwestern Bell, Ito, Triumph-Adler, and others. His extensive international experience in the Asian market and knowledge of business conduct and language will be relied upon in establishing OEM and Joint Venture opportunities throughout Asia. ivyNET is a telecommunications solutions provider offering international long distance termination services to both existing PTT carriers and NextGen telcos, leveraging deregulation and liberalization in foreign markets. ivyNET enables these carriers to leverage the Internet Protocol (IP) to capture significant cost savings in the short term and value-added applications and services in the long term. ivyNET offers OEM IP Telephony technology to System Integrators and VAR's, targeting enterprise and vertical niche markets. Applications featuring the convergence of voice and data are built on ivyNET's IP Telephony hardware and software. ivyNET owns 51% of the shares of SL Electronies Co. Ltd. (''SL'') of South Korea. SL is a leading supplier of IP Telephony technology in the Asian market. Their Carrier Class Gateway will be used as the core technology component to ivyNET's Global Carrier Services offering. SL is also a leader in the development of IP Telephony technology based on Microsoft's Windows NT platform. SL's focus on Windows NT development is the foundation of ivyNET's Enterprise strategy. ivyNET Corporation has 18,415,389 and 21,668,839 common shares issued and outstanding on a basic and fully diluted basis respectively. The Company trades on the Canadian Dealing Network under the symbol ''IVYN''. -30- For further information: Mr. Michael Nikiforuk, Executive Vice-President and Director, ivyNET Corporation at (416) 362-3966