TORONTO, Dec. 30 /CNW/ - Northcore Technologies Inc. (TSX: NTI; OTCBB: NTLNF), a global provider
of asset management technology solutions, announced today that it has
entered into an agreement to deliver a group purchase platform based on
its patented Dutch Auction methodology. The product will differ from
other group purchase or coupon amalgamation tools, in that it employs
the proven Dutch Auction technique to more efficiently clear perishable
"We believe that this is the perfect time to launch a platform that
combines the appeal of group purchase with the efficacy of the Dutch
Auction. The consumer will benefit from one of the most effective value
seeking methodologies invented and the vendors will gain a robust new
market channel. This initiative will showcase the powerful capabilities
resident in our applications architecture, introduce a wider audience
to the power and excitement of the Dutch Auction experience, and
position Northcore for a transaction based revenue stream. Our plan is
to deliver the platform in Q2'11," said Duncan Copeland, CEO of
About Northcore Technologies Inc.
Northcore Technologies provides a Working Capital Engine™ that helps
organizations source, manage, appraise and sell their capital
equipment. Northcore offers its software solutions and support
services to a growing number of customers in a variety of sectors
including financial services, manufacturing, oil and gas and
Northcore owns 50 percent of GE Asset Manager, LLC, a joint business
venture with GE. Together, the companies work with leading
organizations around the world to help them liberate more capital value
from their assets.
Additional information about Northcore can be obtained at www.northcore.com.
This news release may include comments that do not refer strictly to
historical results or actions and may be deemed to be forward-looking
within the meaning of the Safe Harbor provisions of the U.S. federal
securities laws. These include, among others, statements about
expectations of future revenues, cash flows, and cash requirements.
Forward-looking statements are subject to risks and uncertainties that
may cause Northcore's results to differ materially from expectations.
These risks include the Company's ability to raise additional funding,
develop its business-to-business sales and operations, develop appropriate strategic alliances
and successful development and implementation of technology, acceptance
of the Company's products and services, competitive factors, new
products and technological changes, and other such risks as the Company
may identify and discuss from time to time, including those risks
disclosed in the Company's Form 20-F filed with the Securities and
Exchange Commission. Accordingly, there is no certainty that the
Company's plans will be achieved. Important factors that could cause
actual results to differ materially from the Company's expectations are
disclosed in the Company's documents filed from time to time with the
Toronto Stock Exchange, on SEDAR (the System for Electronic Document
Analysis and Retrieval at www.sedar.com) and the US Securities and Exchange Commission. This news release
shall not constitute an offer to sell or the solicitation of an offer
to buy securities of the Company in any jurisdiction.
SOURCE NORTHCORE TECHNOLOGIES INC.
For further information: For further information:
Northcore Technologies Inc.
Tel: (416) 640-0400 ext. 273