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

To: Condor who wrote (4699)	6/1/2000 3:23:00 PM
From: Pied Piper	Read Replies (1) \| Respond to of 5053

iTech Invests in WholesalePortal.com Thursday June 1, 3:05 pm Eastern Time Press Release SOURCE: iTech Capital Corp. iTech Capital Invests in WholesalePortal.com TSE Trading Symbol: ITE TORONTO, June 1 /CNW/ - iTech Capital Corp. (iTech), has made an equity investment of US$500,000 in WholesalePortal.com, Inc., as part of a $4.4 million Series A financing led by New York City-based venture capital firm The Argentum Group. Based in Seattle, Washington, Wholesale Portal.com is a vertical B2B online marketplace and information portal for the wholesale specialty food industry. WholesalePortal.com's WPMarket is an Internet-based B2B market place, transaction service, and information portal targeting the $100+ billion wholesale specialty food industry. The Company facilitates transactions between suppliers and buyers in the wholesale trade. WPMarket's services provide an effective alternative to the fragmented independent product representatives and brokers, thus saving time and increasing market reach. In addition, WPMarket's services benefit small, specialty retail buyers by increasing their selection of goods and services and improving customer service. WholesalePortal.com has a strong management team led by CEO Paula Lukoff, who has had experience in both the specialty food and the technology industries. Ms. Lukoff has built a management team with an extensive base of technology and operational talent. Numerous members of the Company's team have in-depth experience in technology development and eBusiness having worked for companies including Microsoft Corporation, Amazon.com and Nordstrom. The specialty food market is highly fragmented and inefficient, with many independent specialty retailers and suppliers. Intermediaries, such as food brokers and specialty food distributors, facilitate transactions between suppliers and buyers. The Company's business model expands the level of services and products that are currently available through traditional brokerage. WPMarket's services provide both a cost and time advantage over traditional wholesale commerce, freeing suppliers to concentrate on manufacturing and buyers to expand their offerings while reducing costs. WholesalePortal.com buyers and suppliers should achieve significant savings in the areas of accounts receivable, customer service and sales expense. "The WholesalePortal.com management team with its broad range of experience in technology and the food business, has structured a compelling business model in a marketplace with enormous potential", said Brian Hinchcliffe, Chairman of iTech Capital. "We believe the wholesale specialty foods is a natural for a viable B2B e-commerce strategy." To learn more about WholesalePortal.com, visit their Web site at wholesaleportal.com. ON BEHALF OF THE BOARD OF DIRECTORS Brian A. Hinchcliffe, Chairman & Co-CEO For further information Jim Graham, Vice President, Investor Relations 1-800-675-1749 or (516) 922-6404 E-mail: jimgraham@itechcapital.com, Web site: itechcapital.com

To: Condor who wrote (4699)	6/5/2000 12:11:00 PM
From: russet	Respond to of 5053

Forbes says Nortel's Elastic spinoff stretches DSL Nortel Networks Corp NT Shares issued 1,354,467,391 Jun 2 close $89.00 Mon 5 Jun 2000 In the News Forbes magazine reports in its May 22 edition that Nortel Networks spinoff Elastic Networks sells the new digital subscriber line (DSL) scheme called EtherLoop, which sends data farther and often faster than services offered by Bell Labs. Forbes writer Bruce Upbin says since Bell debuted its DSL technology a decade ago, the company has promised a cheap and easy way to get high-speed access into homes and office. Its advantages, such as being compatible with copper wires, has serious technical glitches, and fixing them could be big business. One problem is "spectrum incompatibility" among myriad broadband designs -- T1, ISDN and nine or so flavours of DSL. The result can be interference. Elastic chief executive Guy Gill says spectrum incompatibility is a problem that is building steadily. Mr. Gill, a 23-year Nortel veteran, has set his sights on modest but accommodating markets -- hotel chains, apartment complexes and rural carriers that have not yet offered DSL. Elastic expects $40-million (U.S.) in sales this year. Nortel owns more than half of Elastic. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com