Cell-Loc
Location Technologies announces
new Joint Venture partner
Calgary, AB, August 29XX, 2005 – Cell-Loc Location Technologies
Inc. (TSX-V: LTI) (“CLTI”), today announced that it has entered into a new
license agreement for its Calgary wireless location network with Location
System Solutions Inc. (“LSSI”), a company controlled by Mr. Keith Bohn (a director
of CLTI) and Mr. David Mullen. Mr.
Mullen’s ownership interest in LSSI is through Lyncorp International Ltd., a
corporation which Mr. Mullen controls.
LSSI will operate its interest in the Calgary network through a
subsidiary company, Solutions-on-Trak Inc. (“On-Trak”). In addition to the existing Calgary network,
LSSI also owns the rights to participate in Austin, TX and any further networks
to be developed in Alberta. IQ2
Communications previously held these rights that have now been granted under a
new license agreement with LSSI.
CLTI also
announced that it has sold a license for the Greater Vancouver territory to
LSSI for $500,000, with payment due after CLTI successfully completes its
network currently under construction in São Paulo, Brazil. CLTI is anticipating completion of the São
Paulo network in Q4 of this year. CLTI
and LSSI have agreed that the Vancouver network will be built and operated
through a jointly owned entity, which will be owned 51% CLTI and 49% LSSI.
“On-Trak
brings the necessary attributes to provide location based services using the
Company’s proprietary Beacon technology,” said Sheldon Reid, President &
CEO of CLTI. “Our technology provides
the low cost solution with real time location of assets and people for monitoring,
tracking and various other security applications. This relationship will complement the Company’s São Paulo, Brazil
deployment and commercialization.”
“Our team
is currently evaluating marketing opportunities and believes that the wireless
location market is poised for significant growth in the near future” said Keith
Bohn, President & CEO of LSSI and On-Trak.
“We have reviewed various technologies and believe that CLTI’s
technology is the best combination of reliability, precision and cost to work
in an urban environment. On-Trak is
excited not only to develop the Calgary network market, but also to expand
opportunities in our other territories, in the rest of Alberta, in Vancouver
and in Austin, TX.”
CLTI and
On-Trak are currently developing a business and marketing plan to optimize the
Calgary network.
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."
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.
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For
further information about CLTI and the ongoing technology business or about LSSI,
please contact:
Sheldon Reid Keith Bohn
President & CEO President
& CEO
Cell-Loc
Location Technologies Inc. Location
System Solutions Inc.
Phone: 403.569.5700 Phone:
403.242.9298