TORONTO, Jan. 20, 2005 (PRIMEZONE) -- ActiveCore Technologies Inc., formerly IVP Technology Corporation (OTCBB:TALL), announced today it has entered into a definitive agreement to acquire the business of DisclosurePlus Inc., a Canadian private company. We anticipate the transaction will close early in the first quarter and add $2,000,000 USD to the Company's revenue in fiscal 2005.
DisclosurePlus provides publicly traded corporations with the foundation and tools to enhance the scope of corporate disclosure in line with a standardized regulatory compliant web based solution.
The current corporate securities legal climate has created an environment which requires public companies to more uniformly comply with disclosure to the public. DisclosurePlus brings for the first time continuity of corporate disclosure content through standardized iconology, consistently defined navigational parameters and an easy to use content management system deployed in real time and fully interactive on the client company's web site.
The DisclosurePlus model has been developed with strong feedback and support from Canadian Securities Regulators, financial, legal and insurance organizations, as well as investor relations professionals.
Recent recognition of the DisclosurePlus technology came in late 2004 when RIOCAN, Canada's largest Real Estate Investment Trust (REIT), won the Ontario Chamber of Commerce corporate governance award by using the DisclosurePlus product.
Peter Hamilton, President & CEO of ActiveCore stated, "The DisclosurePlus acquisition is a perfect fit and allows ActiveCore to fully deploy its business integration and corporate messaging product sets. This is a rare window of opportunity in corporate disclosure history where real change is occurring.
"There is a definitive and positive role we can play in shaping the future of good corporate disclosure, which will ultimately benefit investors and the capital markets. Our near future plans include introducing the technology to stock exchanges world wide and as a result restoring investor confidence in public companies, which has been eroded over the last several years."
Gord Sutton, CEO of DisclosurePlus and Sutton Integrated Solutions, credits his twenty years in corporate design and communications as his inspiration for the development of DisclosurePlus: "I am emboldened by the speed with which DisclosurePlus has been adopted by the corporate community and with the strong feedback and support I continue to receive from many of Canada's most influential CEO's and Investors alike."
Dean Peloso, former head of SEDAR, appointed President of DisclosurePlus, commented, "At DisclosurePlus we believe that better disclosure leads to better valuations and liquidity, obviously to the benefit of both current and future shareholders. ActiveCore's technology has proven to be the perfect vehicle for delivering DisclosurePlus' best of breed disclosure solution. We're proud to be joining the ActiveCore team of professionals."
Ultimately, it is anticipated the use of the standardized best practices that DisclosurePlus employs will evolve in the same way in which mandatory regulated use of EDGAR in the United States and SEDAR in Canada was adopted.
About DisclosurePlus, Inc. (www.DisclosurePlus.com)
DisclosurePlus, Inc. is a privately held Canadian Company specializing in the development of software and intellectual property which addresses the need of public companies to implement best practice disclosure as required by the various regulatory agencies.
About ActiveCore Technologies, Inc. (www.ActiveCore.com)
ActiveCore Technologies, Inc., formerly IVP Technology Corporation, operates a group of subsidiaries and divisions in the U.S., U.K. and Canada that offer a Smart Enterprise Suite of products and services. We integrate, enable, and extend functions performed by current and legacy IT systems and facilitate mass corporate messaging through our ActiveCast product set. Our products encompass web portals, enterprise middleware, mobile data access, data management and system migration applications. ActiveCore operates under the trade names of MDI Solutions, C Comm Communications Inc. and Twincentric Limited. ActiveCore services clients in healthcare, financial services, government and manufacturing worldwide.
IR CONTACT:
AGORA Investor Relations TALL@agoracom.com http://www.agoracom.com (Select ''ACTIVECORE" Forum)
Statements contained in this news release regarding ActiveCore Technologies, Inc. formerly IVP Technology and planned events are forward-looking statements, subject to uncertainties and risks, many of which are beyond ActiveCore's control, including, but not limited to, reliance on key markets, suppliers, and products, currency fluctuations, dependence on key personnel and trade restrictions, each of which may be impacted, among other things, by economic, competitive or regulatory conditions. These and other applicable risks are summarized under the caption "Risk Factors" in ActiveCore's Registration Statement on Form SB-2 filed with the Securities and Exchange Commission on January 5, 2005. Forward-looking statements by their nature involve substantial risks and uncertainties. As a result, actual results may differ materially depending on many factors, including those described above