AirIQ Inc.

AirIQ Inc.

January 30, 2007 19:25 ET

Robert Simmonds Resigns From AirIQ's Board of Directors

TORONTO, ONTARIO--(CCNMatthews - Jan. 30, 2007) - AirIQ Inc. (TSX:IQ), a leader in global wireless security, today announced that Robert C. Simmonds has resigned from its Board of Directors. Mr. Simmonds recently retired from his role as Executive Vice President, Regulatory of TELUS.

In addition to being a secured lender to AirIQ in respect of a $1.5 million term loan through his holding company, Quadrature Investments Inc., Mr. Simmonds is a director, Chairman and a shareholder of Lenbrook Corp., a company which owns or controls approximately 7.69% of the issued and outstanding common shares of AirIQ.

Mr. Peter Bradshaw, Chairman of AirIQ states, "I wish to thank Mr. Simmonds for his contribution to the Board over the past five years and wish him success in his other personal and professional endeavours."

AirIQ will commence the process of identifying candidates to fill the open seat on the Board of Directors and anticipates presenting a nominee at the upcoming annual meeting of shareholders.

Forward-looking Statements

This news release contains forward-looking information based on management's best estimates and the current operating environment. These forward-looking statements are related to, but not limited to, AirIQ's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains words such as "anticipate", "believe", "expect", "plan" or similar words suggesting future outcomes. Such forward-looking statements are as of the date which such statement is made and are subject to a number of known and unknown risks, uncertainties and other factors which could cause actual results or events to differ materially from future results expressed, anticipated or implied by such forward-looking statements. Such factors include, but are not limited to, changes in market and competition, technological and competitive developments and potential downturns in economic conditions generally. Therefore, actual outcomes and results may differ materially from those expressed in such forward-looking statements. Other than as may be required by law, AirIQ disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

About AirIQ

AirIQ trades on the Toronto Stock Exchange under the symbol IQ. A leader in Global Wireless Security, AirIQ is headquartered in Pickering, near Toronto, Canada, with offices in Lake Forest and San Diego, California, U.S.A. The Company operates as a wireless Internet applications service provider specializing in location-based services. AirIQ's services are offered to four primary markets: Commercial Fleets; Consumer; Vehicle Finance; and, Marine Fleets. AirIQ gives vehicle and vessel owners the abilities to manage and protect their mobile assets. AirIQ's services include: vehicle locating, boundary notification, automated inventory, maintenance reminders, security alerts, vehicle disabling, unauthorized movement alerts and many more features. For additional information on AirIQ or its products and services, please visit the Company's website at

Contact Information

  • AirIQ Finance
    Mark Kohler
    Chief Financial Officer
    (905) 831-6444, Ext. 4250