News Release

For immediate release                                                                                                                                                                              Trading Symbol: LTI

 

 

Cell-Loc Location Technologies Announces Closing of Previously Announced Private PlacementAnnounces Appointment of Vice President Network Operations

 

Calgary, AB, April 6, 2006 Sheldon Reid, President & CEO, Cell-Loc Location Technologies Inc. (TSX-V: LTI) ("CLTI" or the "Company") is pleased to announce the appointment of Bruce Fielding to the position of Vice President Network Operations.

 

Mr. Fielding holds a Bachelor of Applied Science in Electrical Engineering degree from the University of Waterloo, and has more than fifteen years of telecommunications and network experience.  He has been with Cell-Loc for five years in various positions.

 

“We are extremely pleased to promote someone of Bruce’s caliber to join our senior management team at Cell-Loc,” said Sheldon Reid. “He has a proven track record with our company and now will provide important leadership as the Company anticipates commencing commercial operations in its network in São Paulo, Brazil.  Bruce’s responsibilities will include the development and implementation of operations policies and procedures in Brazil. Calgary, AB, December 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, is pleased to announce the second tranche closing of its previously announced private placement.  This closing consists of 3,217,000 units ("Units") in the capital of the Company for gross proceeds of $643,400 at a price of $0.20 per Unit (the "Offering").  CLTI retained Loewen & Partners Corporate Services Inc. to act as its agent in connection with the offering, on a best efforts basis.  The Company closed the first tranche of the Offering, consisting of 11,515,000 Units, on November 14, 2005 and the gross proceeds raised in both tranches of the placement was $2,946,000..

 

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 at any time on or before the 24 month anniversary of the closing of the Offering.  The Common Shares and Warrants issued pursuant to the Offering are subject to a four-month hold period expiring on April 15, 2007. 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.CLTI is currently finalizing the deployment of its network in São Paulo to add to its existing networks in Saskatoon, SK and Calgary, AB.

 

Net proceeds of approximately $600,000 (net of estimated financing costs of $44,000) from this private placement will be used to fund the completion of the wireless location network that the Company is currently deploying in São Paulo, Brazil, and for working capital purposes.

 

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."

 

To receive Cell-Loc Location Technologies news, please subscribe to CCNMatthews' free news service (www.ccnmatthews.com).

- 30 -

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.

 

 

Cell-Loc Enters Into Option Agreement to License Phoenix, Arizona Territory

 

Calgary, AB, June 23, 2006 - Cell-Loc Location Technologies Inc. (TSXV: LTI) has entered into an option agreement with an undisclosed third party (at this time the name of the third party is not being disclosed at its request) to license and deploy Cell-Loc's proprietary network based location services for the Phoenix, Arizona territory.   Under the terms of the agreement, the partner has the option to acquire the license rights for the territory on or prior to September 1, 2007 for a price of US$1,000,000.

Upon the exercise of the option, under the terms of the agreement, Cell-Loc and the third party will own 51 and 49 percent shares, respectively, of a new venture which will enjoy sole rights to deploy the technology in the Phoenix, Arizona territory.

Cell-Loc’s strategy is to execute a large scale roll-out of its technology through qualifying potential candidates for licensing geographic territories or vertical market opportunities or partnering with parties on a joint venture basis.  The Company is currently entertaining discussions with international companies with interest in utilizing the Company’s intellectual property on a global basis.

 

Cell-Loc’s technology provides opportunities for service in many vertical markets including stolen vehicle recovery, fleet tracking, asset tracking, asset location, supply management and telemetry.

 

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.

 

To receive Cell-Loc Location Technologies Inc. news, please subscribe to CCNMatthews' free news service (www.ccnmatthews.com).

 

- 30 -

 

For further information about CLTI and the ongoing technology business, please contact:

 

Sheldon Reid                                                 Dave Guebert
President & CEO                                              VP Finance & CFO

Cell-Loc Location Technologies Inc.                    Cell-Loc Location Technologies Inc.
Phone: 403.569.5700                                       Phone: 403.569.5796