News Release

For immediate release Trading Symbol: LTI

 

Cell-Loc Location Technologies Announces Closing of Private Placement

 

Calgary, AB, July 18, 2006 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, announced that it has closed the first tranche of a non-brokered private placement offering for 1,075,000 units ("Units") in the capital of the Company for gross proceeds of up to $215,000 at a price of $0.20 per Unit (the "Offering"). CLTI expects to complete a second tranche of this financing prior to the end of July.

 

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 $0.30 per Common Share, subject to adjustment in certain events, at any time on or before 4:30 p.m. (Calgary time) on the 24 month anniversary of the closing of the Offering, subject to adjustment in certain events. The Company has the option to require exercise of the Warrants in the event that the share price of its Common Share trades at or above $0.75 for any twenty consecutive days.

 

Proceeds from this private placement will be used to fund business development activities and for working capital purposes in Brazil, Canada and other countries where the Company has prospective arrangements. The Company is currently reviewing opportunities to roll out its technology through licensing additional geographic territories or partnering with parties on a joint venture basis.

 

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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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.

 

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

 

Not for distribution to U.S. news wire services or dissemination in the United States.