(TSX: NTI; OTCBB: NTLNF)
TORONTO, Nov. 8 /CNW/ - Northcore Technologies Inc. (TSX: NTI;
OTCBB:NTLNF), a global provider of core asset solutions, announced today that
its joint venture, GE Asset Manager LLC, will provide web-based asset
disposition services to Arthur Machinery, an international distributor of
precision machining equipment.
Arthur Machinery will take advantage of Asset Manager's online marketing
and sales capabilities to market pre-owned machining equipment, including CNC
machining centers, CNC turning centers and CNC welding robots to manufacturing
and metalworking companies throughout North America. The marketing and sales
activities are currently underway.
"Through the web-based tools of our joint venture with GE, we are helping
world-class organizations accelerate the turn-over of surplus inventory and
reach qualified buyers more cost-effectively," said Duncan Copeland, CEO of
Northcore Technologies. "We look forward to supporting Arthur Machinery's
online asset management efforts."
Additional information on the sales event can be found at
Schedules Q3 Results
Northcore also announced that it is scheduled to release its third
quarter results on Tuesday, November 13 following the close of the markets.
The company will hold a conference call at 10:00 a.m. (Eastern) on Wednesday,
November 14 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 core asset solutions 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 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,