AdvantEDGE Announces Proposed Joint Venture With GE Capital Fleet Services.CONCORD, Ontario--(BUSINESS WIRE)--April 19, 1999-- AdvantEDGE International Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :AII AII Auto ID Infrastructure AII Agence de l'Innovation Industrielle (French Agency for Industrial Innovation) AII Active Input Interface (used in UNI PMD specs for Copper/Fiber) AII ASEAN Information Infrastructure )(AdvantEDGE) Monday announced that it has signed a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. with U.S.-based GE Capital Fleet Services to form a joint venture to distribute AdvantEDGE's FuelMaster System in Mexico. Funding of the new joint venture is subject to final approval by GE Capital Fleet Services. Under the proposed structure, GE Capital Fleet Services will become an equal equity partner to AdvantEDGE in the joint venture. GE Capital Fleet Services is one of the largest fleet management companies in the world with more than 1 million vehicles under lease and service management. It has operations in North America, Europe, Australia, New Zealand, Japan and Brazil. As part of the proposed joint venture, AdvantEDGE would grant to GE Capital Fleet Services an option to acquire up to 19% of AdvantEDGE's Subordinate Voting Shares. The Warrant prices are CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $1.75 if exercised by Aug. 31, 1999; CDN$2.10 if exercised by Feb. 29, 2000, or; CDN$2.50 if exercised by Aug. 31, 2000. According to David Shneer, chief executive officer of AdvantEDGE, "We are tremendously excited about now moving from the planning to the implementation phase of our business plan." AdvantEDGE markets and distributes the FuelMaster System, a fully automated vehicle refueling control and monitoring system. FuelMaster is a high-technology Radio Frequency Identification See RFID. (RFID (Radio Frequency IDentification) A data collection technology that uses electronic tags for storing data. The tag, also known as an "electronic label," "transponder" or "code plate," is made up of an RFID chip attached to an antenna. ) wireless communications system utilizing advanced radio frequency and smart-card microprocessor technology to control the refueling process. FuelMaster applications include those for commercial fleet operators and the consumer market where "automated refueling systems" provide value added benefits such as convenience, elimination of unauthorized or fraudulent charges, transaction security, and daily reports. FuelMaster's automated process eliminates drivers' need to carry cash, credit cards, or vouchers. FuelMaster systems are utilized by major oil companies and financial institutions as a form of "electronic commerce." The Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). has neither approved nor disapproved of the information contained herein. For more information on AdvantEDGE, contact: David Shneer, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. AdvantEDGE International Inc. Tel: 905/761-5969, ext. 41 Fax: 905/761-5970 E-mail: dshneer.advantedge@ibm.net Web site: www.advantedge.ca |
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