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ActiveCore Announces Management Change
TORONTO, July 21 /PRNewswire-FirstCall/ -- IVP Technology Corporation, d.b.a.
ActiveCore Technologies, Inc., (OTC:TALL) (BULLETIN BOARD: TALL) announced
today that Mr. Peter Hamilton has assumed the duties of CEO effective today.
In making the announcement Mr. Brian MacDonald, Chairman of ActiveCore, said
"Mr. Hamilton has served as President and COO for the past two years and has
been a key player in shaping the company's product and service offerings. In
addition Mr. Hamilton has played a central role in the company's acquisition
strategy. Having guided the company into completing several strategic
acquisitions this year, Mr. Hamilton will now focus on the integration and
amalgamation of the products, services and facilities of the expanding
organization. This new management structure will also foster faster organic
growth and position the company to rapidly assimilate planned acquisitions. In
addition the change in Mr. Hamilton's role from President to CEO will allow the
company greater latitude to make additional changes at divisional levels in the
future which we perceive as necessary to optimize revenue and profit from our
operations."
Mr. Hamilton stated "I am very excited by our current and planned portfolio of
products and services as well as our geographical reach. My expanded
responsibilities will allow the company to optimize revenue and profit from all
areas of the business. We want to reiterate our guidance for the full fiscal
year of 2004 of an e.p.s of approximately ($0.01) for the full year based on
current shares outstanding."
Mr. Brian MacDonald will continue as Chairman of the Board and focus on
compliance and financial reporting while Mr. Hamilton will concentrate on
maximizing profitability. Mr. John Choy, newly appointed CFO will report
directly to Mr. MacDonald to ensure timely and accurate reporting. The
separation of the Chairman and CEO roles also recognizes the need to service
our shareholders with a more dedicated investor relations program, which Mr.
MacDonald will begin to implement immediately.
Mr. MacDonald stated "I am very pleased that Mr. Hamilton has accepted the role
of CEO as it will allow us to leverage our core strengths to better meet our
company objectives of rapid growth while building shareholder value."
About ActiveCore Technologies, Inc.
IVP Technology Corporation, d.b.a. ActiveCore Technologies, Inc. develops,
sells and implements its own "Smart Enterprise" suite of products. These
products consist of web portal, enterprise and mobile components and
applications which give organizations of all sizes the capability to
"integrate, enable and extend" back office systems to connect to customers and
stakeholders. ActiveCore also operates under the trade name MDI Solutions, C
Comm Communications Inc. and Twincentric Limited. In combination ActiveCore is
able to service clients around the world with any type of IT infrastructure.
For information about ActiveCore contact Brian MacDonald at (416) 252-6200.
Detailed information about ActiveCore can be found on the website
http://www.activecore.com/ and its sister sites http://www.twincentric.com/ and
http://www.mdisolutions.com/.
Statements contained in this news release regarding IVP Technology and planned
events are forward-looking statements, subject to uncertainties and risks, many
of which are beyond IVP Technology'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 IVP Technology's Registration Statement on Form SB-2 filed
with the Securities and Exchange Commission on December 24, 2003.
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.
DATASOURCE: IVP Technology Corporation
CONTACT: Brian MacDonald, ActiveCore, +1-416-252-6200
Web site: http://www.activecore.com/
http://www.twincentric.com/
http://www.mdisolutions.com/