CALGARY, AB, FEBRUARY 27, 2002 - Cell-Loc Inc. (TSE: CLQ), a leading developer of network-based wireless location technology, today announced that the Chinese Government Chongqing Bureau of the Ministry of Foreign Trade and Economic Cooperation has formally approved the establishment of Chongqing Cell-Loc Wireless Location Ltd. ("Chongqing Cell-Loc").
"We are very pleased to announce the receipt of the necessary government approval to move forward with our Chinese joint venture," said Dr. Michel Fattouche, president & CEO, Cell-Loc Inc. "With China leading the way in new CDMA subscribers, Chongqing Cell-Loc is well positioned to provide technology to wireless carriers that in turn adds location sensitivity to their service offering without having to make any changes to legacy handsets."
The new company will develop and manufacture Cell-Loc's CellocateTM CDMA cell phone location equipment for worldwide markets, with an initial focus on China. Cell-Loc owns 35 percent of this new company, Chongqing Jinmei Communications Co. Ltd owns 53 percent and A-INFO Electronic Technology Group Inc. has 12 percent ownership.
A number of joint venture engineers are currently in Cell-Loc's Calgary office where the transfer of technology, from Cell-Loc to Chongqing Cell-Loc has begun, as well as the preparations required to relocate Cell-Loc's CellocateTM CDMA demonstration network from Calgary to China.
In a parallel effort, planning and the establishment of manufacturing capabilities has begun in Chongqing, China. Chongqing Cell-Loc's initial offices will be in the Chongqing Jinmei Communications Co. Ltd. building in Chongqing. Planning for a new building in Chongqing City High Technology Zone has begun, with construction expected to start within eight months.
About Cell-Loc Inc.
- 30 - Forward Looking Statements: This news release contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and Cell-Loc does not undertake an obligation to update forward-looking statements should conditions or management's estimates or opinions change.
Note to Editors: Cell-Loc, Cellocate, Cellocate System, Cellocate Beacon, TimesThree and LocationBroker are trademarks of Cell-Loc Inc.
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.
Cell-Loc contact:
Tammy Yamkowy
Cell-Loc Inc. (www.cell-loc.com), a leader in the emerging wireless location industry, is the developer of CellocateTM, a family of wireless location products that enable location-based services. Located in Calgary, Alberta, Cell-Loc currently develops, markets and supports its patented wireless location technology in North and South American countries with a view to expanding globally. Cell-Loc is listed on the Toronto Stock Exchange under the trading symbol: "CLQ."
Manager, Public Relations
Phone: (403) 569-5748
tammy.yamkowy@cell-loc.com