TORONTO, June 4 /CNW/ - Northcore Technologies Inc. (TSX: NTI; OTCBB:
NTLNF), a global provider of asset management technology solutions, announced
today that it has entered into a strategic partnership with the Pan Pacific
Group International Ltd. through their shared ownership of Southcore
The Pan Pacific Group International Ltd., is a leading force in large
project coordination throughout the Caribbean and South and Central American
markets. Through this collaboration, Southcore Technologies will connect
certain assets of Pan Pacific, on an exclusive basis, with enabling
technologies from Northcore and market a proven suite of online products to
the broad business network of Pan Pacific. Northcore owns 40 percent of
Southcore Technologies through the issue of 7.5 million treasury shares to Pan
"Pan Pacific has relationships across 67 countries that are well suited
to realize benefits from our solutions. We see an opportunity to accelerate
Northcore's growth on an international scale by helping this business network
achieve cost savings and operational efficiencies," said Duncan Copeland, CEO
of Northcore Technologies.
"We have a 20 year history in bringing North American corporations to
developing countries and facilitating business. Our greatest assets are the
strong relationships that we have established around the world. We are excited
about the expressions of interest we have received thus far in what we
consider to be the global leader in asset management products," said John Van
Dyke, CEO of the Pan Pacific Group.
About Northcore Technologies Inc.
Northcore Technologies provides software solutions and services that help
organizations source, manage and sell their capital equipment and assets.
Northcore works with a growing number of customers and partners 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 gain more value from and more control over their
Additional information about Northcore can be obtained at
About Pan Pacific Group International Ltd.
The Pan Pacific Group International Ltd. was founded in 1986. It is a
multinational firm with a significant project portfolio in industries such as;
Financial Services, Tourism, Real Estate, Construction, Farming, Mining,
Transportation, Import/Export, Hospitality, Telecommunications, Technology and
Entertainment. Its base of operations spans 67 countries with a strong
concentration in the developing world.
Additional information about the Pan Pacific Group can be obtained at
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 ("the Company") 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.
For further information:
For further information: Northcore Technologies Inc., Investor
Relations, Tel: (416) 640-0400 ext. 273, E-mail: