Cell-Loc Location Technologies
Announces $800,000 Non-Brokered Private Placement
Calgary, AB, March 14, 2005 – Cell-Loc Location Technologies
Inc. (TSX-V: LTI) (“CLTI” or the “Company”), a leading developer of
network-based wireless location technology that enables location-based services,
today announced a non-brokered private placement consisting of up to 4,325,000
units ("Units") in the capital of the Corporation for gross proceeds
of approximately $800,000 at a price of $0.185 per Unit (the
"Offering").
Each Unit consists of one common share of ("Common
Share") and one half of one common share purchase warrant (a
"Warrant"). Each whole
Warrant entitles the holder thereof to acquire one Common Share at an exercise
price of $0.25 per Common Share, subject to adjustment in certain events, at any
time on or before 4:30 p.m. (Calgary time) on the 18 month anniversary of the
closing of the Offering, subject to adjustment in certain events.
Subject to receipt of approval for the Offering from the TSX
Venture Exchange, the securities will be offered for sale in the Provinces of
Alberta, British Columbia and Ontario and such other jurisdictions as the
Corporation may decide, pursuant to certain exemptions from the registration and
prospectus requirements of applicable securities laws. The private placement is
expected to close on or about March 17, 2005.
About Cell-Loc Location Technologies Inc.
Cell-Loc Location
Technologies Inc. (www.cell-loc.com) is the developer of 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 North and South America and Asia,
with a view to expanding globally. Cell-Loc is listed on the TSX Venture
Exchange under the trading symbol: "LTI."
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Technologies news, please subscribe to CCNMatthews' Hot Off the Wire free
news service (http://eservices.ccnmatthews.com/hotw/index.jsp).
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For further information about CLTI
and the ongoing technology business, please contact:
Dave Guebert
Vice President, Finance and CFO
Cell-Loc Location Technologies Inc.
Phone: 403.569.5796
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.
TSX Venture Exchange has neither approved nor disapproved of the
contents of this news release.