Blackline GPS Corp.

Blackline GPS Corp.

June 29, 2009 18:44 ET

Blackline GPS Corp. Reports Second Quarter, Fiscal 2009 Results

CALGARY, ALBERTA--(Marketwire - June 29, 2009) - Blackline GPS Corp. (TSX VENTURE:BLN) ("Blackline GPS" or the "Company") today filed its unaudited consolidated financial statements for the quarter ended April 30, 2009 along with the related management discussion and analysis.

All of these filings along with additional information included the annual audited financial statements can be accessed electronically on SEDAR at

Second Quarter Highlights

- On February 25, 2009, Blackline GPS completed its Qualifying Transaction resulting in the company becoming an actively traded operational company on the TSXV under the symbol BLN. Concurrent with the Qualifying Transaction, $2 million in convertible debentures plus accrued interest of $120,000 were converted into equity significantly improving the companies working capital position and liquidity.

- On March 26, 2009, the Company entered into a strategic alliance with Escort Inc. ( Under the agreement, Blackline GPS and Escort will market and sell portable and fixed installed GPS-based vehicle tracking products under the Escort brand name. Escort is a leading developer, manufacturer and seller of premium radar detectors. By signing a licensing agreement with Escort, the Company is able to leverage the brand power of the Escort name and rapidly accelerate the introduction and adoption of Blackline GPS products in the US marketplace.

- On April 21, 2009, the Company announced it was going to do a private placement offering to raise capital. The private placement ultimately closed in two tranches. The first tranche closed on May 28, 2009 and raised gross proceeds of $3,512,600. The second tranche closed on June 22, 2009 and raised an additional $594,900. With the funds provided by the placement, management believes that successful execution of its business plan will result in sufficient cash flow to fund projected operational requirements. However, no assurances can be given that the Company will be able to achieve all or part of its objectives, or that sufficient financing from outside sources, if needed, will be available.

"I am very excited about the progress that Blackline GPS has made over the last several months" said Clark Swanson, President and CEO of Blackline GPS Corp. "With the Escort Inc. relationship, the recently announced Reliance Protectron agreement and the solid financial foundation provided by the recent private placement, Blackline is well positioned to successfully launch its new suite of products in the coming months providing a strong platform for growth in the current year and into the future."

About Blackline GPS, Corp.

Blackline GPS Corp. is a Calgary-based technology manufacturer of security, tracking & monitoring devices for automotive, commercial and industry safety and family use. Blackline sells its products under its own brand name and through a licensing arrangement with Escort Inc. ( Management and the Board of Blackline includes several individuals responsible for the success of BW Technologies Ltd. ("BWT") including but not limited to: Blackline's Chairman, Cody Slater, the founder and President of BWT; Kirk Wankel, Vice President of Finance of BWT and Chief Financial Officer of Blackline; and Kevin Meyers, Vice President of Operations of BWT and Chief Operations Officer of Blackline.

A copy of this news release will be available at

Certain statements included in this presentation may be considered forward-looking. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements, and therefore these statements should not be taken as guarantees of future performance or results. Forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond Blackline's control, including: the impact of general economic conditions, industry conditions, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates and stock market volatility. The forward-looking statements contained in this news release are made as at the date of this news release and Blackline does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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