Torstar takes larger stake in JCI Technologies "recent agreements augment value of JCI's on-line services".VICTORIA, British Columbia--(BUSINESS WIRE)--Nov. 3, 1995--JCI TECHNOLOGIES (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :JCI JCI Journal of Clinical Investigation JCI Johnson Controls, Inc. JCI Junior Chamber International JCI Joint Commission International JCI Japan Concrete Institute JCI Journal of Communication Inquiry JCI Johannesburg Consolidated Investment Company Limited ) Geoffrey Edmunds, President of JCI Technologies Inc., today announced that Torstar Corporation is exercising its right to convert 2 million warrants into JCI common shares. Torstar will receive 2 million JCI shares at an exercise price of $1.35, adding $2.7 million to finance JCI's marketing initiatives. This most recent purchase augments the strategic alliance struck between Torstar and JCI Technologies in January 1995. At that time, Torstar purchased 4 million common shares injecting $3.6 million into JCI during its research and development phase. Torstar has an additional 2 million warrants remaining which expire in February 1997. The Torstar purchase follows an announcement by Microsoft Corporation (company) Microsoft Corporation - The biggest supplier of operating systems and other software for IBM PC compatibles. Software products include MS-DOS, Microsoft Windows, Windows NT, Microsoft Access, LAN Manager, MS Client, SQL Server, Open Data Base Connectivity (ODBC), MS Mail, of Redmond, Washington Redmond is a city in King County, Washington, USA. It is situated on the eastern edge of the Seattle urban area, in what is known as the Eastside. In 2003 the Census Bureau estimated the city population was 46,391. naming JCI Technologies as one of the first content providers to The Microsoft Network See MSN. Microsoft Network - The Microsoft Network (R) (MSN (1) (MicroSoft Network) A family of Internet-based services from Microsoft, which includes a search engine, e-mail (Hotmail), instant messaging (Windows Live Messaging) and a general-purpose portal with news, information and shopping (MSN Directory). ), the global online service scheduled to be available early in 1996. JCI's MATCH services, to be offered on the Internet and MSN (R), will help users find a job (JobMatch (R)), tour and buy real estate (RealtyMatch(R)), and locate their dream car (AutoMatch (R)) on the Net. "JCI services expand on the typical bare-bones approach to on-line service" says David Galloway, President and Chief Executive Officer, Torstar Corp. "Not only can you look for a house using RealtyMatch, you can reach the real estate agent through a direct link from RealtyMatch to the agent's home page. The fully integrated MATCH services are very user friendly. That makes JCI's services attractive to buyers, sellers, advertisers and to Torstar." "We're very pleased that Torstar is exercising additional warrants. It's a great statement of confidence in JCI from a major Canadian corporate entity" said Geoffrey Edmunds, President of JCI Technologies. JCI currently operates JobMatch, an on-line service that matches prospective employers with Canadians looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. work. Already more than 3,000 employers have registered to use JobMatch, and more than 20,000 resumes have been entered into the JCI databank. JobMatch has received endorsement from Canada's largest industry associations including the Canadian Manufacturers Association. In addition, the federal governments plan to pilot the JobMatch service in select Canadian Employment Centres have further increased content for JCI's services. RealtyMatch is an on-line service that allows consumers to qualify real estate searches by price, numbers of bedrooms and other attributes. RealtyMatch searches its database and provides consumers with the details of properties matching search criteria. JCI recently signed a deal to input the MLS See multilevel security. listing of the Vancouver Island Vancouver Island (1991 pop. 579,921), 12,408 sq mi (32,137 sq km), SW British Columbia, Canada, in the Pacific Ocean; largest island off W North America. It is c.285 mi (460 km) long and c. real estate board on RealtyMatch. AutoMatch, which JCI plans to launch later this year, will offer computerized listings of new and used vehicles. Consumers will be able to define the criteria for their auto search and receive information on the number, details and photographs of available vehicles matching their search criteria. JCI is Canada's premier on-line company. Headquartered in Victoria, B.C. JCI Technologies is listed on the Alberta Stock Exchange. The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. The Microsoft Network is operated by Microsoft Corp. on behalf of Microsoft Online Services Partnership. Microsoft and Windows are either registered trademarks or trademarks of Microsoft Corp. in the United States and/or other countries. CONTACT: JCI Technologies Inc., Victoria Martin Winstanley, 604/475-0202 or 1-800-268-JOBS Internet HTTP HTTP in full HyperText Transfer Protocol Standard application-level protocol used for exchanging files on the World Wide Web. HTTP runs on top of the TCP/IP protocol. ://www.realtymatch.com or Temple Scott Associates Jennifer Rideout 416/360-6183 |
|
||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion