Cell-Loc Location Technologies Inc.

Cell-Loc Location Technologies Inc.

March 30, 2005 20:16 ET

Cell-Loc Location Technologies Announces Closing of Non-Brokered Private Placement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CELL-LOC LOCATION TECHNOLOGIES INC.

TSX VENTURE SYMBOL: LTI

MARCH 30, 2005 - 20:16 ET

Cell-Loc Location Technologies Announces Closing of
Non-Brokered Private Placement

CALGARY, ALBERTA--(CCNMatthews - March 30, 2005) - Cell-Loc Location
Technologies Inc. (TSX VENTURE:LTI) ("CLTI" or the "Company"), a leading
developer of network-based wireless location technology that enables
location-based services, is pleased to announce e that it has completed
its previously reported equity issue of 5,126,297 units ("Units") in the
capital of the Corporation for gross proceeds of approximately $948,365
at a price of $0.185 per Unit (the "Offering"). The first tranche of the
Offering consisting of 3,568,189 Units closed on March 18, 2005, for
gross proceeds of approximately $660,115. The second tranche consisting
of 1,558,108 Units closed on March 30, 2005, for gross proceeds of
approximately $288,250. Management and directors of the Company
subscribed for 45% of the total Offering.

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 $0.25 per Common Share, subject to adjustment in certain
events, at any time on or before 4:30 p.m. (Calgary time) on the 18
month anniversary of the closing of the Offering, subject to adjustment
in certain events. The Common Shares and Warrants issued pursuant to the
Offering are subject to a four month hold with the first tranche hold
period expiring on July 19, 2005 and the second tranche hold period
expiring on July 31, 2005.

About Cell-Loc Location Technologies Inc.

Cell Loc Location Technologies Inc. (www.cell-loc.com) is the developer
of Cellocate™, 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.

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For further information about CLTI and the ongoing technology business,
please see contact below.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Cell-Loc Location Technologies Inc.
    Dave Guebert
    Chief Financial Officer
    (403) 569-5796
    Email: investor@cell-loc.com
    TSX Venture Exchange has neither approved nor disapproved of the
    contents of this news release.