SOURCE: Axion Spatial Imaging, Inc.

June 25, 2008 08:30 ET

Axion Spatial Imaging, Inc. Announces Continuation of Alco Stock Purchase

LAS VEGAS, NV--(Marketwire - June 25, 2008) - Axion Spatial Imaging, Inc. (PINKSHEETS: ASII), pursuant to its previously announced Stock Purchase Agreement with privately held Alco Advanced Technologies, Inc., has completed its first stock purchase of Alco stock. The agreement allows Axion to purchase up to 40% of Alco stock over the next several months. Alco Advanced Technologies, Inc. is a Nevada privately held Corporation focusing on data security in addition to its presence in Las Vegas casinos via its patented security software. Alco also has garnered substantial interest from various harbor and port security agencies for its new detection systems, and has two Letters of Intent from ports in South America, in addition to significant interest from organizations in the U.S.

According to an Axion spokesperson, "We are convinced that this acquisition is a 'win-win' for both Axion Spatial Imaging and Alco Advanced Technologies. From Alco's standpoint, they are looking to derive the benefits from the substantial interest in their new technology, and the additional capital raised through this stock purchase should be instrumental in helping them achieve their short-term expansion goals. As far as Axion is concerned, we believe strongly in the potential of Axion's technology, and this acquisition is both a tangible manifestation of that belief, as well as the fulfillment of our ongoing commitment to identify promising and undervalued acquisition targets and help them fulfill their objectives and thereby build a portfolio of strong growth assets."

Safe Harbor Statement:

Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of the Company's products, the competitive environment within the industry, the ability of the Company to continue to expand its operations, the level of costs incurred in connection with the Company's expansion efforts, economic conditions in the industry and the financial strength of the Company's customers and suppliers. The Company does not undertake any obligations to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.

Contact Information

  • Contact:
    Ricardo Perez Rodriguez
    Axion Spatial Imaging, Inc.