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Gold/Mining/Energy : T.ITE: iTech Capital (TSE) -- Ignore unavailable to you. Want to Upgrade?

To: Rob Davis who wrote (3925)	2/3/2000 10:13:00 PM
From: mr. campbell	Read Replies (2) \| Respond to of 5053

Taken from the new iTech Capital web page. This helped understand how our Co. got into bed with Argentum and MF Capital to share their prospects. Recapped from Nov.11.99 press release also. The iTech Capital name reflects the transformation that has taken place over the past year from a company with its roots in the mining industry to a company that is committed to building shareholder value by participating primarily in the Internet B2B and telecommunications sectors. In this New Economy, iTech?s goal is to wisely deploy its assets for the benefit of its shareholders. iTech, through its experience, expertise and strong strategic alliances, is well positioned to identify, invest in and assist in the development of emerging technology companies. While opportunities abound, iTech believes the real key to building significant shareholder value is being selective and funding only those companies that have strong management teams, persuasive business models and reasonable valuations. In addition, iTech expects to fund only those companies that have the potential to emerge as significant and dominant players in their respective business sectors. To date, iTech is confident it has made such investments. STRATEGIC PARTNERS In November 1999, iTech entered into an agreement with the Argentum Group, the general partner of four equity funds totaling approximately US$280 million. Argentum has significant deal flow, a strong investment record and an experienced internal staff to perform due diligence. Argentum, through one of its funds, was the initial investor in Medsite.com and is currently its largest shareholder. iTech has granted Argentum 500,000 options to purchase its shares for a five-year period. Argentum has agree to offer iTech the opportunity to co-invest with Argentum in amounts ranging from US$500,000 to US$1,000,000, at iTech?s option, in all transactions in which Argentum has the opportunity to invest at least US$3.0 million. Since the two parties entered into the agreement, iTech has co-invested in one transaction, HorizonLive.com. Also in November of 1999, iTech Capital entered into an agreement with MF Private Capital, Inc. (MFPC), a Boston-based investment group that is an investment affiliate of Manulife Capital Corporation, an indirect subsidiary of one of Canada?s leading financial services firms. MFPC is led by four experienced investment professionals and has invested/committed approximately US $100 million over the last 20 months. An affiliate of MFPC, MFPCVI, Inc., as general partner of MF Private Capital Ventures, LP (the Fund) is raising capital for the Fund. Manufacturers Life Insurance Company (USA), the indirect majority owner of MFPC, is participating in the Fund by contributing a percentage of its originals deals, that were sourced and are managed by an affiliate of MFPC, as its equity contribution. iTech has agreed in principle to invest US $1.5 million in this new Fund, and MFPCVI, Inc. has agreed that iTech will be offered an opportunity to co-invest in the Fund?s investments in emerging companies. William Staudt will join the Fund?s Advisory Committee. The majority of MFPC?s investments are in communications infrastructure, technology, medical devices technology, and Internet B2B companies. Since the two parties entered into the agreement, iTech has co-invested in one transaction, Bizfon Inc. In summary, our strategic alliances will be at the core of the company's investing decisions. It is a well known fact that the "best idea" or "best technology" does not always carry the day. We are operating in an environment where the lifecycle of companies has been compressed by 2-3 times and emerging companies are in need of ever larger amounts of capital. In alliance with Argentum and MFPC , we offer not only the financial resources required to grow world class companies but the contacts, and competitive drive required for success Home page About iTech investment portfolio Managemen Team News Releases investor information Copyright ¸ 2000, iTech Capital Corp.. All rights reserved.