Exhibit 99
CHELL GROUP SIGNS LETTER OF INTENT TO RECAPITALIZE LOGICORP DATA SYSTEMS
Wednesday, June30, 2004, 2:00pm ET
NEW YORK, June 4, 2004. CHELL GROUP CORPORATION (CHEL.PK), a technology
holding and development company, announces that it has entered into an LOI with
NewMarket Technology Inc. (OTCBB: IPVO) for the recapitialization of Logicorp
Data Systems Ltd.
NewMarket and Logicorp anticipate executing the final stock purchase
agreement in July 2004.
"This transaction will allow the Chell Group to work with a partner to
develop out and expand the potential of Logicorp as well as allow the Chell
Group to pursue additional technology development opportunities". Dave Bolink,
Chell Group CEO.
About Logicorp (http://www.logicorp.ca)
----------------------
LOGICORP is an IT services provider with offices in Calgary, Edmonton, Toronto,
and Vancouver. Established in 1988, LOGICORP serves small, medium, and large
organizations in the corporate, government, and educational sectors with
competitive and innovative IT business solutions. LOGICORP excels in Server
Based Computing, Storage, Enterprise and Operating Software, Internetworking
Technology, and Microsoft Business Solutions (Great Plains and CRM). LOGICORP
also offers full service planning, procurement, configuration, licensing, and
maintenance programs.
About NewMarket Technology Inc. (www.newmarkettechnology.com)
---------------------------
NewMarket (currently undergoing a corporate name change from IPVoice
Communications Inc.) is a six-year-old company that has reported as a research
and development concern for most of its history. In 2002, NewMarket launched a
new business plan, which resulted in the Company posting six consecutive
profitable quarters through 2003 and establishing an annualized $15 million in
revenue. The Company is actively acquiring early-stage proprietary technology
companies and financially distressed systems integration companies in specific
global markets. In 2003, NewMarket acquired Infotel Technologies in Singapore
and IP Global Voice, led by CEO Peter Geddis, a former Executive Vice President
and Chief Operating Officer of Qwest Communications (NYSE:Q). The Company
recently acquired Medical Office Software Inc., diversifying its communications
technology offering into the healthcare industry. RKM IT solutions of Caracas,
Venezuela was also recently acquired as NewMarket's entry into the Latin
American market.
About Chell Group Corporation:
Chell Group Corporation (www.chell.com) is a technology holding and development
company that strategically acquires, develops and divests of technology
businesses and assets.
CONTACT: Chell Group Corporation
David Bolink, 403-303-8258
dbolink@chell.com
www.chell.com
Forward-looking statements and comments in this press release are made pursuant
to safe harbor provisions of the Securities Exchange Act of 1934. Certain
statements, which describe Chell Group Corporation's intentions, expectations or
predictions, are forward-looking and are subject to important risks and
uncertainties. The results or events predicted in these statements may differ
materially from actual results or events. Factors which could cause results or
events to differ from current expectations include, among other things: the
acceptance of Internet based application service providers in the consumer
market, the impact of rapid technological and market change, general industry
and market conditions and growth rates.