Cell-Loc Location Technologies Inc.
TSX VENTURE : LTI

Cell-Loc Location Technologies Inc.

June 17, 2005 16:17 ET

Cell-Loc Location Technologies Announces Revised Terms of Previously Announced Non-Brokered Private Placement

CALGARY, ALBERTA--(CCNMatthews - June 17, 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 a revision to the terms of its previously announced non-brokered private placement. The placement now consists of 21,366,697 units ("Units") in the capital of the Company for gross proceeds of $3,525,505 at a price of $0.165 per Unit (the "Offering"). This increase in the Offering is due to an oversubscription on the original $3,400,000 amount.

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 $0.22 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 first tranche of this Offering, consisting of 13,949,545 Units closed on June 2, 2005. The second tranche, consisting of 7,417,152 Units is closing on June 16, 2005. Insiders purchased 6,303,030 Units (29%) in this Offering.

About Cell-Loc Location Technologies Inc.

Cell Loc Location Technologies Inc. (www.cell-loc.com) is the developer of 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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TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.

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