Cell-Loc
Location Technologies Inc. Announces
Proceeds
from Vancouver License
Calgary, AB, June 21, 2006– Cell-Loc Location Technologies
Inc. (TSX-V: LTI) (“CLTI”), today announced that it has received $500,000 as
full payment for the previously announced sale of a license for the Greater
Vancouver territory in British Columbia.
The purchaser, Location System Solutions Inc. (“LSSI”), will operate its
interest through a subsidiary company, Solutions-on-Trak Inc. (“On-Trak”). In addition to the Vancouver license, LSSI
also owns rights for the existing Calgary network and rights to participate in
Austin, TX and any further networks to be developed in Alberta. 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.
“We were
gratified to see CLTI deliver on its commitment to successfully deploy its
network in Săo Paulo.” said Keith Bohn, President & CEO of LSSI and
On-Trak. “This has allowed Cell-Loc to
optimize its technology and enhance the price point of its network deployment
and beacon costs. We are satisfied that
CLTI has achieved this milestone as is evidenced by Itau Seguros’ acceptance of
the results of the independent audit of the technology. On-Trak is excited by the opportunity 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.”
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