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Gold/Mining/Energy : Meteor Technologies -- Ignore unavailable to you. Want to Upgrade?

To: The Barracuda™ who wrote (187)	11/10/1999 9:05:00 PM
From: jerry janko	Read Replies (1) \| Respond to of 2127

Wednesday, November 10, 1999 * For Immediate Release ---- Meteor Technologies completes $500,000 investment in Internet software firm Vancouver, B.C., Canada -- Meteor Technologies has completed its $500,000 investment share purchase in ThoughtShare Communications (TSCI) of Vancouver. The completion of the agreement gives Meteor a 35% share in TSCI's ownership. TSCI is developing a user-friendly Internet application program, called ThoughtShare. TSCI believes that its product will enhance user interactions with the Internet by making it easier for users to track, organize, comment, re-organize and share information gathered during an online session. Along with the completion of the purchase, Meteor President Jonathan George says Meteor Director Fred Fabro will also join the Board of TSCI. "Meteor's management team will provide TSCI with guidance in the areas of financing, administration and marketing to ensure the successful development of ThoughtShare's software," George added. Last month, two British Columbia science organizations -- the Science Council of British Columbia and the BC Advanced Systems Institute -- agreed to separately contribute up to $200,000 each to TSCI, to aid the development of the company and its program. With the acquisition, Meteor joins Simon Fraser University of Burnaby and DNA Media Services, a Vancouver-based educational software company, as major owners of ThoughtShare. Technology provided by Simon Fraser and DNA Media are both being incorporated into ThoughtShare's program, which is expected to be commercially released next year. A proof-of-concept demonstration of the software working with a popular Internet browser was shown to Meteor directors ahead of schedule in late September, but because of the highly competitive nature of the Internet software business, the demonstration occurred under non-disclosure agreements. "We think the program has a lot of potential users," says Meteor director Fred Fabro. "Seeing the proof-of-concept demonstration at ThoughtShare's offices, which was exciting, confirmed that belief for me. If the technology is successfully developed, it's Meteor's intention to focus on the financing and development of TSCI." Company president George agreed, noting that Meteor is still in the process of deciding on the company's future. "We would like to acquire an active technology business, and we're looking at opportunities in the areas of the Internet, e-commerce and the telecommunications industries." Meteor, which expanded its interests last spring from diamond exploration in Alberta to include technology investments, says it intends to maintain its current option of the Carmon Creek diamond prospect in Alberta until the end of the year and will decide then whether to maintain its interest in the property and revive exploration planning, which has been on hold while management concentrated on fulfilling its terms in the ThoughtShare agreement.