Calgary, AB, June 28, 2002 - Cell-Loc has reached agreement with a U.S.-based corporation with over $10 Billion in assets to work jointly to license and deploy Cell-Loc's (TSX: CLQ) proprietary CellocateTM technology throughout the entire state of California.
Cell-Loc and the party to be named at a future date will own 49 percent and 51 percent shares, respectively, of a new venture to be called TimesThree California. TimesThree California will enjoy sole rights to deploy the technology throughout California under a license from Cell-Loc. While commonly recognized as a premier technology for wireless signal location purposes, the Cellocate BeaconTM is also designed to be able also to send a stream of data in a two-way fashion between the Cellocate NetworkTM and the Cellocate BeaconTM. This allows its use for such diverse purposes as remote wireless meter reading, vending machine monitoring, vehicle performance monitoring, or other short-messaging purposes. "Coupled with the technology's ability to identify precise locations, we believe that such messaging capability will be of great interest and potential value to energy utility industries, insurance industries, the defense industries, and others in addition to the telecommunications industry and public-safety community," said Dr. Michel Fattouche, President & CEO. About Cell-Loc - 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:
Cell-Loc Inc. (www.cell-loc.com), a leader in the wireless location industry, is the developer of CellocateTM, a family of network-based wireless location products that enable location-based services. Cell-Loc is located in Calgary, Alberta, Cell-Loc currently develops, markets and supports its patented wireless location technology in Asia as well as North and South America, with a view to expanding globally. Cell-Loc equipment will be manufactured under licenses in Brazil and China and employed in those markets. Commercial deployment has been successfully tested in Canadian markets and will now proceed under agreements in major U.S. markets as well. Cell-Loc is listed on the Toronto Stock Exchange (TSX) under the trading symbol: "CLQ."
Tammy Yamkowy
Manager, Public Relations
Phone: 403.569.5748
tammy.yamkowy@cell-loc.com