Centraxx Signs Strategic Alliance Agreement with Major Insurance Company; Insurer to Market Company's AutoRescue System.Business Editors/High-Tech Writers TORONTO--(BUSINESS WIRE)--March 8, 2000 Centraxx Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CNXX) has signed a Strategic Alliance Agreement with a leading insurance company for the purpose of introducing the Centraxx AutoRescue(TM) vehicle tracking and recovery system to the Ontario and Quebec market area and to reduce claims due to auto theft and related damage. The insurance company has requested that its identity not be disclosed until the joint program has been implemented and announced by the insurer. The insurer and Centraxx have agreed to develop a direct marketing package and a broker incentive plan to support the joint program. Centraxx estimates that this joint program should generate significant revenue for the company. The market area encompasses Southern Ontario, including the cities of Toronto, Hamilton, St. Catharines, Windsor and Ottawa, and all major northern highway arteries Arteries Blood vessels that carry oxygenated blood away from the heart to the cells, tissues, and organs of the body. Mentioned in: Adrenergic Blockers, Angiotensin-Converting Enzyme Inhibitors, Antihypertensive Drugs, Hypertension, Thrombolytic Therapy, . Quebec includes the cities of Montreal Of Montreal is an American indie pop band formed in Athens, Georgia, fronted by Kevin Barnes. It was among the second wave of groups to emerge from The Elephant 6 Recording Company. and Quebec City and arteries leading to and from the Ontario coverage. "This is a breakthrough deal for us," stated Centraxx Chairman 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. Michael Ivezic. "This first insurance industry partnership represents a significant amount of potential revenue. We are very pleased to enter into agreement with such a quality strategic partner. As one of the top insurers in Canada and with over 500,000 policyholders, the potential for this one program alone is obviously enormous." Centraxx Inc. is a wireless data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. company currently focusing on providing location technology solutions to the mass market. Centraxx has a patent pending RF land-based system that it intends to deploy in a network configuration in key markets across North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Centraxx UNI-POINT(TM) technology is capable of providing high-speed, two-way data transfer and single point tracking and locating information. Over time, this proprietary, high capacity network will facilitate the wireless transfer of data for a wide range of products and applications. Centraxx will first introduce an automotive application, the AutoRescue vehicle tracking and recovery system with AutoRescue PLUS(TM) roadside and emergency notification service. This will be the world's first vehicle tracking system combining high accuracy, self-arming reliability and affordability. More information regarding Centraxx and its products and services can be found on the World Wide Web at www.centraxx.com. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this release are made pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, acceptance of the Company's products, increased levels of competition, new products and technological changes, the Company's dependence upon third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. Note to Editors: The information in this release has been neither approved nor disapproved by any regulatory body. |
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