Calgary, AB, December 2, 2003
– Cell-Loc Inc. (TSX: CLQ) ("Cell-Loc")
reports
that on December 1, 2003 it held its Annual and Special Meeting of shareholders,
optionholders and warrantholders convened to approve the previously announced
"Plan of Arrangement" transaction (the "Arrangement")
involving Cell-Loc, Cell-Loc Location Technologies Inc. and Capitol Energy
Resources Investment Partnership.
Cell-Loc is pleased to advise that the special resolution considering the
Arrangement was approved by a majority of 99 percent of those securityholders
voting on the resolution.
In addition, all other resolutions put before the meeting were passed by
a similar majority of Cell-Loc shareholders.
Further, the Court of Queen's Bench of Alberta granted its final order dated December 1, 2003 approving the Arrangement. The parties continue to work towards the completion of the Arrangement transaction.
About Cell-Loc Inc.
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. 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 is listed on the Toronto Stock Exchange
(TSX) under the trading symbol: "CLQ."
Forward Looking Statements: This news release contains certain
information that may constitute forward-looking statements under applicable
securities laws. The reader is cautioned that assumptions used in the
preparation of such information, although considered reasonable by the Company
at the time of preparation, may prove to be incorrect. Actual results achieved
may vary from the results anticipated or implied herein and variations may be
material. There is no representation by the Company that actual results achieved
will be the same in whole or in part as those implied in any forward looking
statements.
Neither the TSX nor the TSX Venture Exchange has approved nor disapproved of
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Cell-Loc contact:
Tammy Yamkowy
Director, Corporate Communications & Investor Relations
Phone: 403.569.5748
tammy.yamkowy@cell-loc.com