Aeroquest International Limited
TSX : AQL

Aeroquest International Limited
Optimal Geomatics Inc.
TSX VENTURE : OPG

Optimal Geomatics Inc.

September 30, 2009 09:47 ET

Aeroquest International and Optimal Geomatics Complete Plan of Arrangement

MISSISSAUGA, ONTARIO--(Marketwire - Sept. 30, 2009) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Attention business/financial editors and reporters:

Aeroquest International Limited (TSX:AQL) and Optimal Geomatics Inc. (TSX VENTURE:OPG) jointly announce the completion of the plan of arrangement today resulting in Aeroquest International acquiring all of the issued and outstanding common shares of Optimal Geomatics. Under the terms of the plan of arrangement, Optimal Geomatics shareholders received 1 common share of Aeroquest International for each 21 common shares of Optimal owned, resulting in an aggregate of 2,923,130 common shares of Aeroquest International being issued.

Optimal has applied to have its shares delisted from trading on the TSX Venture Exchange, which should occur on or about September 30, 2009.

"We are pleased to welcome Optimal Geomatics into the Aeroquest Group of Companies," said Roy Graydon, Aeroquest's President & CEO; "This is an important new market for Aeroquest and we're pleased to have access to the strength and capabilities of Optimal."

About Aeroquest International

Aeroquest International is a global information and technology services company and a leader in the development and operation of innovative and proprietary geophysical surveying platforms for the mineral and petroleum exploration, and environmental services industries. Through its subsidiary companies Aeroquest Surveys, UTS Geophysics and Geophex, Aeroquest International fields a fleet of over two dozen helicopter and fixed wing survey systems and is active around the world. More information about Aeroquest International can be found at www.aeroquest.ca.

About Optimal Geomatics

Optimal Geomatics, a geospatial mapping company, provides engineering and geospatial professionals with customized products designed to meet their mapping needs. Optimal Geomatics specializes in the science and technology of gathering, analyzing, interpreting, distributing, and using geographic information. Optimal applies the disciplines of aerial surveying, mapping, remote sensing, geographic information systems (GIS), and global positioning systems (GPS) to translate remotely-acquired raw imagery into intelligent digitally-mapped data for use according to the application involved, such as land management, environmental information management and engineering design. More information about Optimal can be found at www.optimalgeo.com.

This news release may include statements about expected future events that are forward-looking in nature and subject to risks and uncertainties. Both Aeroquest and Optimal caution that actual performance will be affected by a number of factors, many of which are beyond their control. Future events and results may vary substantially from what Aeroquest and Optimal currently foresee. Discussions of the various factors that may affect future results are contained in Aeroquest's and Optimal's recent filings, available on SEDAR. All forward looking statements contained in this press release are qualified by this cautionary statement.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release.

Contact Information

  • Aeroquest International Limited
    Roy Graydon
    President & Chief Executive Officer
    905-672-9129
    rgraydon@aeroquest.ca
    or
    Optimal Geomatics Inc.
    Colum Caldwell
    President & Chief Executive Officer
    604-654-1860
    ccaldwell@optimalgeo.com