Calgary, AB, June 28, 2002 - Bohdan (Don) Romanuik, Chair of the board of directors of Cell-Loc Inc. (TSX: CLQ), announced today that Sheldon Reid has been named President and Chief Executive Officer of the Company. Mr. Reid, formerly Executive Vice President Corporate & Business Development, succeeds Dr. Michel Fattouche, the co-founder of Cell-Loc and inventor of Cell-Loc's proprietary CellocateTM System for pinpointing the origin of wireless signals, who will remain with Cell-Loc as Chief Technology Officer.
"Through Mr. Reid's efforts, Cell-Loc has developed rapid commercial progress in Brazil, China, Canada and, most recently in the United States as witnessed in this current quarter, the most successful in the company's history," said Dr. Michel Fattouche. "Through Mr. Reid's proven ability as a business leader, the Company has effectively transitioned from an R&D company to a commercial revenue-generating company. This now allows me to continue perfecting Cell-Loc's proprietary technologies confident that in Sheldon Reid Cell-Loc has a leader who will drive the technology to reach its full commercial potential." "I am honored to accept the opportunity to lead Cell-Loc," said Sheldon Reid. "We have proven that Dr. Fattouche's technical concepts have been proven to perform commercially as promised. We are confident that markets throughout the world are ready to respond with demand for this technology in multiple applications, and that Cell-Loc can achieve early profitability in meeting that demand at the lowest feasible costs of production and implementation." 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