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.

Gold/Mining/Energy : Microforum (MCF:TSE) -- Ignore unavailable to you. Want to Upgrade?

To: Brader who wrote (3050)	7/12/1999 11:47:00 PM
From: Allan	Read Replies (1) \| Respond to of 3896

biz.yahoo.com (nice to see that other analyst commenting on MCF other than the usuals...) Microforum shares rise on five-year deal By Luke McCann TORONTO, July 12 (Reuters) - Shares of electric commerce marketing firm Microforum Inc. (Toronto:MCF.TO - news). climbed on Monday after it announced a five-year deal to provide online data of vehicle information provider Canadian Black Book. The Toronto-based company closed up 45 Canadian cents in heavy volume to climb to C$7.95 on the Toronto Stock Exchange. More than 2.6 million shares traded hands, making it Toronto's fourth most active behind Rogers Communications (Toronto:RCIb.TO - news) , Domtar Inc. (Toronto:DTC.TO - news) and Quebecor Print (Toronto:IQI.TO - news) . The stock price is still off from the C$12 high hit this year, but stands far above the 52-week low of 42 Canadian cents. The markets likely reacted to the five-year deal Microforum inked with Black Book, a supplier of new and used vehicle information to the automotive and financial industries, one analyst said. ''I believe that it's a positive development because Microforum's target is to get the vast majority of financial institutions hooked up with their services,'' analyst Alpha-Amar Ba of Groome Capital Inc. said from Montreal. Black Book requested the deal's value not be released, Howard Pearl, chief executive of Microforum said. ''It's both a flat fee, plus a usage charge,'' he said. ''It's pretty reasonable, but I don't think I could go much further than that.'' Pearl said the deal shows the company's commitment to the financial services sector, and that Microforum is in an acquisition and business development mode. ''We're moving forward with business and we're not just standing still waiting to reach the Nasdaq,'' he said. Microforum was traded heavily last week after reports that the firm was seeking purchases in New York, Dallas, San Francisco and Seattle, and had prospects of strong first-quarter earnings -- and by an announcement the company will list on the U.S. Nasdaq exchange. ''We'll see the Nasdaq before the end of the calendar year,'' Pearl said. Last Thursday the company rang up major gains and led Toronto's most active list. Earlier this month, Microforum topped the most active roster on the TSE, rising C$1.10 to hit C$6.90 after announcing it had final receipt from regulators in Ontario, British Columbia and Alberta for a C$20 million private placement financing.