Cell-Loc Location Technologies Inc.

Cell-Loc Location Technologies Inc.

September 07, 2007 09:30 ET

Cell-Loc Location Technologies Announces MOU With Samsung

CALGARY, ALBERTA--(Marketwire - Sept. 7, 2007) - 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, today announced the signing of a Memorandum of Understanding ("MOU") with Samsung Electro-Mechanics Co., Ltd. ("Samsung"), of Seoul, South Korea.

The MOU provides that CLTI and Samsung intend to collaborate in the evaluation and feasibility of jointly developing a small-size transceiver module and single chip solution for CLTI's proprietary location transmitting device ("Beacon"). CLTI and Samsung intend to enter into a definitive agreement for this development within the next six months.

The Company believes that this development provides a significant advancement for its technology as it will provide smaller and less expensive Beacon than is currently in use, which will result in application of the technology for additional vertical markets. These enhancements will result in a small, low-cost, battery-powered device that is capable of sending messages to the network and receiving messages from the network. The low power consumption of the Beacon allows a battery life of several years and, together with its low cost and small size, open up a wide range of portable applications. The messaging capability of the Beacon opens up a wide range of telemetry applications.

Sheldon Reid, CEO of CLTI said, "We are extremely pleased to have the opportunity to work with a world class technology leader such as Samsung, who have recognized in our leadership in this area. We believe that this relationship will result in a quantum move ahead for the Company, making CLTI's solution the global wireless location standard."

About Cell-Loc Location Technologies Inc.

Cell-Loc Location Technologies Inc. is the developer of a family of network-based wireless location products that enable location-based services. Located in Calgary, Alberta, CLTI currently develops, markets and supports its patented wireless location technology in North and South America and Asia, with a view to expanding globally. CLTI 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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TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.

Contact Information

  • Cell-Loc Location Technologies Inc.
    Dave Guebert
    Chief Financial Officer
    (403) 569-5796
    Cell-Loc Location Technologies Inc.
    Sheldon Reid
    Chief Executive Officer
    (403) 569-5796
    Email: investor@cell-loc.com