Cell-Loc Location Technologies Inc.
TSX VENTURE : LTI

Cell-Loc Location Technologies Inc.

April 16, 2008 12:52 ET

Cell-Loc Location Technologies Announces Joint Development Agreement With Samsung

CALGARY, ALBERTA--(Marketwire - April 16, 2008) - Cell-Loc Location Technologies Inc. (TSX VENTURE:LTI) ("CLTI"), a leading developer of network-based wireless location technology that enables location-based services, today announced the signing of a Joint Development Agreement (the "Agreement") with Samsung Electro-Mechanics Co., Ltd. ("Samsung") of Seoul, South Korea.

The Agreement provides that CLTI and Samsung shall collaborate in the joint development of a System-on-Chip (SoC) for CLTI's proprietary location transmitting device ("Beacon"). CLTI shall provide expertise and know-how for the design and verification of the SoC. The cost of the development and fabrication shall be borne by Samsung.

The SoC shall integrate a large number of the electronic components presently used in the Beacon into a single integrated circuit (chip). The SoC will provide the following functions: a microprocessor to process data and control the operation of the Beacon, program memory to store the processing and control instructions, data memory to save information, timing generators to precisely measure and generate time intervals, radio frequency circuits to generate and transmit radio frequency signals to the network, external interfaces to allow the Beacon to send and receive information from, and to control external equipment, and power management to maximize the operating life of the Beacon from batteries. The improved Beacon shall be comprised of the SoC and a small number of supplementary components.

The development of the SoC provides a significant improvement to the Beacon by providing a smaller and less expensive Beacon than is currently in use. Each of these improvements will result in the application of the technology in additional vertical markets. The low-cost, battery-powered Beacon is capable of sending messages to the network and receiving messages from the network. The low power consumption of the Beacon allows for a battery life of several years and together with its low cost and small size is suitable for a wide range of portable location and telemetry applications.

Sheldon Reid, CEO of CLTI said, "Executing on our strategy to substantially lower our cost structure, improve performance and offer additional applications such as data movement, along with real-time location, at very inexpensive price points are fundamental prerequisites to our goal of becoming recognized as the leader in the LBS and telemetry space. We are gratified that Samsung, a recognized world leader in technology and innovation, has selected us as the partner of choice for developing and manufacturing the SoC Beacon product. We look forward to our ongoing relationship with Samsung."

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS:

Certain statements regarding Cell-Loc Location Technologies Inc. including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond CLTI's control. These risks may cause actual financial and operating results, performance, levels of activity and achievements to differ materially from those expressed in, or implied by, such forward-looking statements.

Such risks and uncertainties include, but are not limited to: the impact of general economic conditions in Canada and Brazil; industry conditions including changes in laws and regulations including adoption of new laws and regulations, and changes in how they are interpreted and enforced, both in Canada and Brazil; competition; the lack of availability of qualified personnel; fluctuations in foreign exchange or interest rates; the ability to access sufficient capital from internal and external sources; and obtaining required approvals of regulatory authorities, both in Canada and Brazil. Readers are also referred to the risk factors described in other documents that CLTI files from time to time with securities regulatory authorities.

Accordingly, CLTI gives no assurance nor makes any representations or warranty that the expectations conveyed by the forward-looking statements will prove to be correct and actual results may differ materially from those anticipated in the forward looking statements. CLTI undertakes no obligation to publicly update or revise any forward-looking statements.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.

Contact Information

  • Cell-Loc Location Technologies Inc.
    Sheldon Reid
    President and CEO
    (403) 569-5700
    or
    Cell-Loc Location Technologies Inc.
    Dave Guebert
    Vice President, Finance and CFO
    (403) 569-5700