SOURCE: Grid Petroleum Corp

Grid Petroleum Corp

April 08, 2016 14:45 ET

Grid Petroleum Announces Additional Revenue and New Website

Simlatus Corporation Building Launching Pad to Skyrocket in Growth

GRASS VALLEY, CA--(Marketwired - Apr 8, 2016) -  Grid Petroleum Corp. (OTC PINK: GRPR) -- Grid Petroleum Corp. has recently filed for its new name change to 'Simlatus Corporation' and announces today that the final documentation has been submitted to close new purchase orders for their distributor in Hong Kong and the U.S. distributor selling a large order to the US Navy.

The company has a current expanding revenue base in the broadcast industry with long-term national and international distribution. The current customers of our products include large broadcast giants such as CBS, NBC, ABC, FOX, ESPN and DIRECTV, plus the many smaller broadcast customers which include religious facilities, international broadcast facilities and colleges, as well as various radio stations. The new product designed in augmented/virtual reality markets allow the company to capitalize in this $120B growing industry.

Mike Schatz, COO, stated, "I have finalized the documentation for a quotation to MediaTech in Hong Kong for the purchase of our Innovation 16x16 Analog Video & Stereo Routers. Further, we have completed the final documentation for Fiber Group to submit the quotation for the US Navy, which includes 40 Innovation 16x1 Video/Relay Routers. The US Navy order may lead to even more orders in the near future."

Gary Tilden, CEO, stated, "These are very exciting times for the company. Although there may be some confusion with the various company names involved in this transition, let me clarify: Grid Petroleum is the current public vehicle used to purchase assets from RJM and Associates. With these assets and revenue stream, along with our new product designs, we have formed a new company, 'Simlatus Corporation,' which will replace Grid Petroleum Corp. The RJM website will remain, and a new Simlatus website will encompass all of the RJM products, new product developments, company information and an investor section that will be more state-of-the-art and mobile friendly. Our web engineering design team based in Oregon, Warm Media, Inc., anticipates the new website to be active by the end of April."

Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The Company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.

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