SOURCE: ActiveCore Technologies

August 22, 2006 13:17 ET

ActiveCore Secures Acquisition of ePocket

97% of ePocket Shareholders Support Acquisition

TORONTO -- (MARKET WIRE) -- August 22, 2006 -- ActiveCore Technologies, Inc. (OTCBB: ATVE), a Company that operates a group of subsidiaries and divisions in the US and Canada, today announced that 97% of the GSPS/ePocket shareholders have voted yes in support of the LOI ActiveCore issued in June 2006 to acquire all of the issued and outstanding shares of Global Sterling Payments Systems Limited ("GSPS"), the parent company of ePocket Inc. ActiveCore currently holds a minority shareholding position in GSPS.

ActiveCore has received signed Letters of Intent from shareholders holding 97% of GSPS' Ordinary Shares. With the 97% majority now secure ActiveCore is proceeding with a definitive purchase and sale agreement to acquire GSPS/ePocket. With all obstacles removed the company will now complete this acquisition and implement its strategy to become a pure play in the electronic payment industry.

Peter Hamilton, Chief Executive Officer of ActiveCore, said, "Over the past two months our plans to acquire ePocket were delayed by a legal challenge from a small minority of ePocket shareholders and I am pleased to report that this dispute was recently settled out of court without costs." Mr. Hamilton went on to say, "Although this court action delayed the acquisition process it did not prevent ePocket from advancing several exciting sales opportunities that support ActiveCore's new strategic direction and the completion of this acquisition will position ActiveCore to become a leading organization in the electronic payment industry."

Neil Fishenden, Chief Executive Officer of GSPS, stated, "I am delighted that the final obstacle to the merger has been removed and that during this period the management teams of GSPS/ePocket and ActiveCore have remained focused on the sales opportunities for the combined product set." Mr. Fishenden went on to say, "Now that the combination of the companies is a certainty I will allocate more of my time to working directly with British Linen and Link Resources to complete the financing transactions for the combined entities with full confidence in the knowledge that the companies will be one organization focused on the electronic payment industry."

ActiveCore Restructuring

As mentioned in previous releases, ActiveCore is committed to restructuring the overall business to optimize the impact of this transaction. This restructuring is well underway and the company has already implemented many of its planned changes. The restructured organization has a clear mission to be focused exclusively on the electronic payment industry.

This press release is available on the company's official online investor relations site for investor commentary, feedback and questions. Investors are asked to visit ActiveCore IR Hub located at http://www.Agoracom.com/IR/ActiveCore.

About ActiveCore Technologies, Inc. (www.ActiveCore.com)

ActiveCore Technologies, Inc. operates a group of subsidiaries and divisions in the U.S. and Canada that offer a Smart Enterprise Suite of products and services. We integrate, enable, and extend functions performed by current and legacy IT systems. Our products encompass web portals, enterprise middleware, mobile data access, data management and system migration applications. The Systems Integration & Modernization Division of ActiveCore operates under the trade names of CRATOS and MDI Solutions. The Corporate Disclosure and Messaging Division of ActiveCore operates under the trade names C Comm Network Corporation, DisclosurePlus and ActiveCast. ActiveCore services clients in health care, financial services, government and manufacturing worldwide.

About ePocket Inc. (http://www.ePocket.com)

ePocket brings true electronic cash to the world for the first time, making purchases over the Internet as secure and simple as handing cash to a clerk in a store. ePocket enables banks to provide their customers with the ability to withdraw electronic cash in any currency from their regular deposit accounts, and send this electronic cash to merchants or other consumers in order to make payments. Cash created electronically is just like cash, except there are no coins, bills, or plastic cards -- it is entirely electronic. Just like cash, electronic cash does not require the identification of a payer. This provides privacy for consumers, and eliminates fraud and identity theft, making ePocket the most cost-effective payment solution for Internet commerce. ePocket payments cost merchants less than any other payment technologies. Their extraordinary cost effectiveness enables merchants to profitably accept very small payments of just one or two dollars. In contrast to other payment schemes, consumers do not have to open additional accounts with a payment intermediary. Consumers do not have to give up any identity or credit information in order to accomplish a payment. This makes ePocket payments completely secure and provides complete privacy for consumers.

Statements contained in this news release regarding ActiveCore Technologies, Inc., formerly IVP Technology, and planned events are forward-looking statements, subject to uncertainties and risks, many of which are beyond ActiveCore'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 ActiveCore's Registration Statement on Form SB-2 filed with the Securities and Exchange Commission on January 4, 2005. 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.

Contact Information