Cell-Loc Location Technologies Inc.

Cell-Loc Location Technologies Inc.

August 29, 2011 18:49 ET

Cell-Loc Reports First Quarter Results

CALGARY, ALBERTA--(Marketwire - Aug. 29, 2011) - Cell-Loc Location Technologies Inc. (TSX VENTURE:XCT) reports a comprehensive loss of $325,000 for the three months ended June 30, 2011. During the quarter, the Company continued its development activity related to its wireless location and communication technology.

The Company is finalizing negotiations with the Bravia group with the intent of reacquiring X3 Telecomunicacoes, Cell-Loc's former subsidiary which operates a network in São Paulo, Brazil. The parties have established the significant terms of the deal but to date no agreement has been finalized.

Cell-Loc has completed the development of Beacon 7 and is expected to commence manufacturing in early September with X3 customer installations also scheduled in early September.

The complete financial statements along with management's discussion and analysis can be found on the Company's website (www.cell-loc.com) and on SEDAR (www.sedar.com).

About Cell-Loc Location Technologies Inc.

Cell-Loc is an intellectual property company that has a proprietary technology designed for deployment of wireless data transmission and location based services. The Company has installed a commercial network in São Paulo, Brazil where its technology is being deployed for stolen vehicle recovery services within that network. Cell-Loc is currently in the engineering design and development phase whereby its technology will be deployed for telemetry markets that can be serviced by an existing network or customized as a stand-alone low cost line of sight network application.

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For further information about Cell-Loc and the ongoing technology business, please contact Keith Bohn or Dave Guebert.

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

Contact Information

  • Cell-Loc Location Technologies Inc.
    Keith Bohn
    Interim CEO

    Cell-Loc Location Technologies Inc.
    Dave Guebert
    Vice President Finance & CFO