SOURCE: Geospatial Holdings, Inc.

Geospatial Holdings, Inc.

September 28, 2010 09:37 ET

Geospatial Holdings Subsidiary Enters Into Technology License Agreement With George F. Young, Inc.

PITTSBURGH, PA--(Marketwire - September 28, 2010) -  Geospatial Holdings, Inc. (OTCBB: GSPH) is pleased to announce that its wholly-owned subsidiary Geospatial Mapping Systems, Inc. (Geospatial), has entered into a technology license agreement with George F. Young, Inc. (George F. Young) to utilize Geospatial's Smart Probe™ Pipeline Mapping Technologies for the practice of mapping pipelines and rendering 3-dimensional as-built drawings, throughout the Southeast region. Under the terms of the three-year agreement, George F. Young will have non-exclusive use of Geospatial's Smart Probe™ and GeoUnderground technologies throughout Alabama, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and the Caribbean Basin. 

Greg Crawford, Senior Vice President of Utilities & Transportation Survey for George F. Young, stated, "Utilizing Geospatial's Smart Probe™ technologies gives us an opportunity to provide a new way of mapping underground utilities, which previously didn't exist. We are excited to offer this additional service to our clients." 

"George F. Young's use of this technology in the Architecture, Civil Engineering, Environmental Engineering, Subsurface Utility Locating, Landscape Architecture, Planning, Surveying and Mapping, Hydrographic Surveying, GPS/GIS, Environmental/Ecological and Commercial Real Estate markets is in complete alignment with Geospatial's business model and markets. I am confident this will be a mutual and beneficial relationship for all of our clients and stakeholders," added Mark A. Smith, Geospatial's CEO.

About Geospatial Holdings, Inc.

Geospatial Holdings, Inc. utilizes proprietary technologies to determine the accurate location and position of underground pipelines, conduits and other underground infrastructure data allowing Geospatial to create accurate (3D) three-dimensional digital maps and models of all underground infrastructure. Our website is www.GeospatialHoldings.com.

GeoUnderground, the company's powerful (GIS) geographic information system database enables users to view and utilize this 3D pipeline mapping information securely from any desktop or via a standard browser. GeoUnderground seamlessly integrates with all known technologies gathering above-ground geo-referenced digital information and all standard GIS databases.

Licensed users, for the first time, have available to them a suite of technologies allowing them to collect data and create highly accurate 3D maps and models of both above-ground and below-ground infrastructure and view and share this invaluable information in a secure manner with their peers and associates anywhere in the world through a conventional browser via the internet.

Geospatial provides proprietary data acquisition technologies which accurately locate and map underground and above ground infrastructure assets such as pipelines and surface features via its GeoUnderground web-based portal. Our blog can be viewed at http://geospatialholdings.blogspot.com.

About George F. Young

George F. Young, Inc., a Florida based company, has provided continuous professional engineering and surveying throughout the central west coast of Florida since 1919. Over the past ninety-one (91) years the company has grown steadily to become a full service-consulting firm, with 102 full time employees staffing offices located in Gainesville, Lakewood Ranch, Orlando, Palm Beach Gardens, St. Petersburg, and Tampa, Florida.

George F. Young, Inc. provides professional Architecture, Civil Engineering, Environmental Engineering, Subsurface Utility Locating, Landscape Architecture, Planning, Surveying and Mapping, Hydrographic Surveying, GPS/GIS, Environmental/Ecological and Commercial Real Estate services throughout Florida and the Caribbean Basin. GFY utilizes cutting edge technology to provide its Clients superior results and cost benefits. Visit the website at: http://www.georgefyoung.com/.

Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. The Company makes forward-looking statements in this news release that represent the Company's beliefs or expectations about future events or financial performance. These forward-looking statements are based on information currently available to the Company and on management's beliefs, assumptions, estimates and projections and are not guarantees of future events or results. When used in this document, the words "anticipate," "estimate," "believe," "plan," "intend," "may," "will" and similar expressions are intended to identify forward looking statements, but are not the exclusive means of identifying such statements. Such statements are subject to known and unknown risks, uncertainties and assumptions, including those referred to in the "Risk Factors" section of the Company's Annual Report on Form 10-K. for the year ended December 31, 2009 and in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's Report on Form 8-K filed with the Commission. In light of these risks, uncertainties and assumptions, the forward-looking events discussed may not occur. In addition, our actual results may vary materially from those anticipated, estimated, suggested or projected. Except as required by law, we do not assume a duty to update forward-looking statements whether as a result of new information, future events or otherwise. Investors should, however, review additional disclosures made by the Company from time to time in its periodic filings with the Securities and Exchange Commission. Please use caution and do not place reliance on forward-looking statements. All forward-looking statements made by the Company in this news release are qualified by these cautionary statements.

Geospatial Holdings, Inc.
Mark A. Smith - Chairman & CEO
Voice: 724-353-3400
Email: msmith@geospatialcorporation.com

Contact Information

  • Contact:
    Mark A. Smith
    Chief Executive Officer
    Geospatial Holdings, Inc.
    Email Contact
    724-353-3400