Delivers asset management and technology services; Schedules Q4
TORONTO, March 12 /CNW/ - Northcore Technologies Inc. (TSX: NTI;
OTCBB:NTLNF), a provider of asset management technology solutions, today gave
an update on recent customer and operational activities.
"In the fourth quarter, we focused our efforts in two ways: supporting
the business development efforts and customer requirements of GE's Asset
Manager, our joint venture with GE, and delivering application development
services to clients that leverage our asset management expertise," said Duncan
Copeland, CEO of Northcore Technologies Inc. "We'll reap the benefits for the
company in 2008."
As part of its corporate update, Northcore announced that has recently
provided a series of online sales and marketing activities for its joint
venture, GE Asset Manager LLC. These services are designed to facilitate the
sale of industrial assets, including transportation, manufacturing, and
material handling equipment to qualified buyers across North America via the
online sales platform, geasset.com.
Northcore also announced that it has entered the final phase of a custom
application development project with the electronics division of a leading
Fortune 500 company. The web-based application will enable the tracking and
re-marketing of electronics fabrication equipment.
Schedules Q4 Announcement
Northcore also announced that it is scheduled to release its fourth
quarter results on Wednesday, March 19, 2008 following the close of the
markets. The company will hold a conference call at 10:00 a.m. (Eastern) on
Thursday, March 20 to discuss its financial results and review operational
activities. Followers of Northcore are invited to listen to the call live over
the Internet on the Investor Relations section of the company's website,
About Northcore Technologies Inc.
Northcore Technologies provides web-based solutions and custom
applications that help organizations source, manage and sell their capital
equipment. Northcore works with a growing number of customers and partners in
a variety of sectors including oil and gas, government, and financial
services. Current customers include GE Commercial Finance, Paramount
Resources, The Brick and Trilogy Energy Trust.
Northcore owns a 50 percent interest in GE Asset Manager, a joint
business venture with GE.
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: At Northcore Technologies Inc., Joe Racanelli,
Chief Marketing Officer, Tel: (416) 640-0400 ext. 273, Fax: (416) 640-0412,