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Technology Stocks : Infocast (IFCC) -- Ignore unavailable to you. Want to Upgrade?

To: Len Hynes who wrote (30)	7/24/2000 8:40:49 AM
From: Len Hynes	Respond to of 94

InfoCast Meeting Set to Approve i360 Merger Shareholders' Meeting Called for August 14, 2000 in New York TORONTO, July 24 /CNW/ - INFOCAST CORPORATION (OTC BB symbol: "IFCC"), a leading E-enabling application service provider (ASP), announced today that proxy statements calling a meeting of shareholders to approve the company's merger with i360 inc., the Tucson-based aggregator of virtual communities through customized portals, have been mailed to shareholders of record on July 5, 2000. The meeting will be held on August 14, 2000 in New York City with closing of the merger scheduled for August 15, 2000. "The i360 business model provides InfoCast with significant revenue generation potential, which will accelerate our short term financial goals," said Jim Leech, InfoCast's president and CEO. "We have already successfully switched i360's approximately 10,000 network marketing and affinity group subscribers to InfoCast's ASP hosting services. Additionally, we plan to introduce InfoCast's e-Learning products to these customers." Upon closing of the merger, holders of i360's issued and outstanding common stock will receive an aggregate 7,584,000 shares of InfoCast common stock. All outstanding options to purchase shares of i360 common stock will be exchanged for 4,416,000 InfoCast share purchase warrants and 1,030,833 employee options. About InfoCast InfoCast Corporation is an e-Enabling Application Service Provider (ASP) for the new economy. The company develops, hosts, provides and supports unique e-Enabling solutions for businesses seeking fast, cost-effective ways of employing e-commerce. Core InfoCast offerings include virtual contact center, e-Learning, and custom portal applications, delivered via secure, scalable infrastructure-on-demand. More information about InfoCast Corporation can be found on the Web at www.infocast-corp.com . ---------------------