Avanticorp International Inc. Wishes to Address Certain Press Coverage It has Recently Received.TORONTO--(BUSINESS WIRE)--Dec. 21, 1998--Avanticorp International Inc. ("Avanticorp") shares Trade: USA, OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB SYMBOL: "AVTL" wishes to address certain press coverage which it has recently received. In a broadcast today over the Internet, PRNewswire referenced an article published in the December issue of The Wall Street Warrior Warrior, river, Ala.: see Black Warrior. and discussed certain patented technology developed by Avanticorp. The article has not been authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: or endorsed by Avanticorp or by its management. The article contains information which has not been verified by Avanticorp and Avanticorp, takes no responsibility for the contents or accuracy of the information contained in the article. Furthermore, Avanticorp assumes no responsibility for loss or damages incurred as a result of reliance upon information which has not been authorized by it. Any person desiring information on Avanticorp is referred to the attached news releases which were issued by Avanticorp on December 7th and 11th, 1998 and the attached news release which was issued by the University of Utah The University of Utah (also The U or the U of U or the UU), located in Salt Lake City, is the flagship public research university in the state of Utah, and one of 10 institutions that make up the Utah System of Higher Education. on December 9th, 1998. For further information, contact Mr. Ross McGroarty, President and Director, at 416/364-6513. Visit our Web site: www.magramtm.com Neither the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. nor any securities regulatory authority Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities has approved or disapproved of the contents of this news release. The Following are News Releases Issued Previously by Avanticorp International Inc. On December 7th, 1998 and December 11th, 1998, and a December 9th, 1998 News Release Issued by the University of Utah. NEWS RELEASE OF DEC 07, 1998 ----------------------------- Avanticorp International Inc. ("Avanti") Shares Trade: USA, OTC BB SYMBOL: "AVTL". The board of directors of Avanticorp International Inc. ("Avanticorp") is pleased to announce that it has closed in escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. the acquisition of Pageant pageant, modern dramatic spectacle or procession celebrating a special occasion or an event in the history of a locality. In medieval times the word pageant had meant the wagon or the movable stage on which one scene of a mystery or miracle play was performed. Technologies Inc. ("Pageant") pursuant to an agreement between Avanticorp and Ataraxia ataraxia (at´  rak´sē Corp. dated December 7, 1998 (the "Agreement"). Under the terms of the Agreement, Avanticorp has issued to Ataraxia (and other persons on direction by Ataraxia) an aggregate of 32.0 million common shares and 1.0 million warrants in exchange for all of the issued and outstanding shares of Pageant. Each warrant entitles its holder to purchase one additional common share of Avanticorp for (Cdn) $2.00 during the first year and (Cdn) $2.30 during the second year following closing. Under the Agreement, certain documentation with respect to the transaction will be released from escrow on January 12, 1998. Pageant is the holder of a 50% interest in the U.S. patent and patent applications in Japan and EEC EEC: see European Economic Community. in respect of the non-volatile random access memory (storage) Non-Volatile Random Access Memory - (NVRAM) Static random-access memory which is made into non-volatile storage either by having a battery permanently connected or by saving its contents to EEPROM before turning the power off and reloading it when power is restored. technology known as MAGRAM MAGRAM Magnetic Radar Absorbing Material and invented by Richard Lienau of Pecos, New Mexico Pecos is a village in San Miguel County, New Mexico, United States. The population was 1,441 at the 2000 census, growing much faster than in other parts of San Miguel County, partly because Pecos is within commuting distance of Santa Fe[1]:54. , U.S.A. Pageant has the MAGRAM technology. Under the terms of the license, Pageant is required to pay to the licensor or its nominee nominee n. 1) a person or entity who is requested or named to act for another, such as an agent or trustee. 2) a potential successor to another's rights under a contract. a 40% gross profits royalty (less those expenses agreed to by the parties) for each technology license sold, per unit of royalty received, or on any other revenues to Pageant which are related to the grant of rights to the use of MAGRAM. Pageant has engaged the University of Utah to perform certain research with respect to the MAGRAM technology. Continued development of the MAGRAM technology should improve the density, speed, bit size and manufacturing process. Pageant intends to aggressively pursue the establishment of partnerships with major memory manufacturers and to establish alliances with select computer industry leaders. The deal will be presented for ratification The confirmation or adoption of an act that has already been performed. A principal can, for example, ratify something that has been done on his or her behalf by another individual who assumed the authority to act in the capacity of an agent. by shareholders at Avanticorp's Annual and Special Meeting scheduled for January 11, 1999. It is anticipated that Stephen Fleming Stephen Paul Fleming (born in Christchurch on 1 April, 1973) is a New Zealand cricketer, and the former captain of the New Zealand national cricket team, known as the Black Caps, in Test and one-day cricket. , President and C.E.O. of Pageant, will be nominated nom·i·nate tr.v. nom·i·nat·ed, nom·i·nat·ing, nom·i·nates 1. To propose by name as a candidate, especially for election. 2. To designate or appoint to an office, responsibility, or honor. for election as a director of Avanticorp at the Meeting. For further information, contact Mr. Ross McGroarty, President, at 416/364-6513. NEWS RELEASE OF DEC 11, 1998 ----------------------------- Avanticorp International Inc. ("Avanti") Shares Trade: USA, OTC BB SYMBOL: "AVTL:. As previously announced Avanticorp International Inc. has agreed to acquire Pageant Technologies Inc. and has closed the transaction in escrow. Avanticorp has called a meeting of its shareholders to ratify ratify v. to confirm and adopt the act of another even though it was not approved beforehand. Example: An employee for Holsinger's Hardware orders carpentry equipment from Phillips Screws and Nails although the employee was not authorized to buy anything. the transaction on January 11, 1999. All escrow arrangements will be in effect until January 12, 1999, at which time the documents held in escrow will be released. Avanticorp is pleased to announce the following development of Pageant's patented MAGRAM Technology which was announced on December 9th, 1998. U. RESEARCHERS DEVELOPING NONVOLATILE RAM TECHNOLOGY University of Utah researchers have announced a major breakthrough in the development of a new type of memory aimed at revolutionizing the computer industry and related fields. Working under contract from Pageant Technologies (USA) Inc., U. researchers -- led by Electrical Engineering electrical engineering: see engineering. electrical engineering Branch of engineering concerned with the practical applications of electricity in all its forms, including those of electronics. Associate Professor Larry Sadwick -- have developed a new class of magnetic-field sensors that will allow the future manufacturing of low-cost, high-volume, high-density memory devices and circuits. The new memory cell, called a MAGRAM(TM) (short for "magnetic random access memory"), uses magnetic fields magnetic fields, n.pl the spaces in which magnetic forces are detectable; created by magnetostrictive ultrasonic scalers to cause the tips of instruments such as ultrasonic scalers to vibrate. to store data. Similar to conventional RAM memory devices, the MAGRAM should allow rapid, random access to information stored within it. However, unlike conventional RAM the MAGRAM memory cell is nonvolatile MAGRAM that is, continuous power is not required to maintain the memory content. Even after the power source is removed, the information remains, giving MAGRAM the advantage of long-term data storage reliability. With further development, Pageant believes this technology eventually will become standard among computers and other electronic devices that use memory. Among potential applications arc cellular phones, pagers, palm PCs, digital clocks, microwaves, VCRs, answering machines, calculators and integrated circuits Integrated circuits Miniature electronic circuits produced within and upon a single semiconductor crystal, usually silicon. Integrated circuits range in complexity from simple logic circuits and amplifiers, about 1/20 in. (1. in vehicles. "Think of everything that, when the power goes off, you lose the memory," says Stephen B. Fleming, president of Pageant, which will license the technology as it develops. "That doesn't happen with MAGRAM." Once realized, the new technology should also offer the advantage of decreased power consumption in portable devices like laptop computers A portable computer that has a flat LCD screen and usually weighs less than eight pounds. Often called just a "laptop," it uses batteries for mobile use and AC power for charging the batteries and desktop use. Today's high-end laptops provide all the capabilities of most desktop computers. , cellular telephones and pagers. It also could be used to enhance the processing of Internet data. U. researchers are building 8-bit technology evaluation samples to be used for testing by prospective licensees. Pageant Technologies Inc., is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Avanticorp International, Inc. Contact: Stephen Fleming, 505/471-3027, ext. 101 (sfhfram@newmexico.com) Writer: Mark Saal, 801/581-7932 (mark@unicomm.utah.edu) For further information, contact Mr. Ross McGroarty, President, at 416/364-6513. Avanticorp International Inc. ("Avanti") Shares Trade: USA, OTC BB SYMBOL: "AVTL". As previously announced Avanticorp International Inc. has agreed to acquire Pageant Technologies Inc. and has closed the transaction in escrow. Avanticorp has called a meeting of its shareholders to ratify the transaction on January 11, 1999. All escrow arrangements will be in effect until January 12, 1999, at which time the documents held in escrow will be released. Avanticorp is pleased to announce the following development of Pageant's patented MAGRAM Technology which was announced on December 9th, 1998. NEWS RELEASE FROM UNIVERSITY OF UTAH - DEC 09, 1998 ---------------------------------------------------- U. RESEARCHERS DEVELOPING NONVOLATILE RAM TECHNOLOGY University of Utah researchers have announced a major breakthrough in the development of a new type of memory aimed at revolutionizing the computer industry and related fields. Working under contract from Pageant Technologies (USA) Inc., U. researchers -- led by Electrical Engineering Associate Professor Larry Sadwick -- have developed a new class of magnetic-field sensors that will allow the future manufacturing of low-cost, high-volume, high-density memory devices and circuits. The new memory cell, called a MAGRAM(TM) (short for "magnetic random access memory"), uses magnetic fields to store data. Similar to conventional RAM memory devices, the MAGRAM should allow rapid, random access to information stored within it. However, unlike conventional RAM the MAGRAM memory cell is nonvolatile that is, continuous power is not required to maintain the memory content. Even after the power source is removed, the information remains, giving MAGRAM the advantage of long-term data storage reliability. With further development, Pageant believes this technology eventually will become standard among computers and other electronic devices that use memory. Among potential applications are cellular phones, pagers, palm PCs, digital clocks, microwaves, VCRs, answering machines, calculators and integrated circuits in vehicles. "Think of everything that, when the power goes off, you lose the memory," says Stephen B. Fleming, president of Pageant, which will license the technology as it develops. "That doesn't happen with MAGRAM." Once realized, the new technology should also offer the advantage of decreased power consumption in portable devices like laptop computers, cellular telephones and pagers. It also could be used to enhance the processing of Internet data. U. researchers are building 8-bit technology evaluation samples to be used for testing by prospective licensees. Pageant Technologies Inc., is a wholly owned subsidiary of Avanticorp International, Inc. Contact: Stephen Fleming, 505/471-3027, ext. 101 (sfhfram@newmexico.com) Writer: Mark Saal, 801/581-7932 (mark@unicomm.utah.edu) |
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