RMS Systems Inc.
TSX VENTURE : RMS

RMS Systems Inc.

May 18, 2012 16:24 ET

RMS Systems Inc. Announces Closing of Strategic Joint Venture Transaction

CALGARY, ALBERTA--(Marketwire - May 18, 2012) -

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RMS SYSTEMS INC. (TSX VENTURE:RMS) (the "Company") announces that it has closed the previously announced joint venture transaction with Phoenix Technology Services Inc. ("Phoenix"). The joint venture transaction is described in the Company's press release dated May 14, 2012.

About RMS:

RMS Systems Inc. has developed industry leading technologies (the "RigManager System") which allows drillers of oil and gas wells to view the data that the drill bit sees from the comfort of their own home, office or mobile device. The RigManager Electronic Drilling Recorder ("EDR") allows the rig operators, engineers, and geologists to monitor drilling progress in near real time without actually being at the well location. RMS has developed hardware and software solutions, with secure internet access that provides the foundation for drilling information management. The RMS electronic data solutions are used to create meaningful data analysis, increased productivity, and improved customer satisfaction. The RMS system includes high speed access to drilling data, customizable report generation, and the RMS communications system which provides customers improved bandwidth, lower latency and improved voice quality over systems that have historically been used in the EDR business. The RMS products have been developed by RMS technicians meaning they are customizable to meet customer needs. RMS is the developer of its software and utilizes licensed industry proven data collection sensors in the RigManager System. The RMS vision is to provide the most complete and interpretive electronic data using up-to-the- minute network communications. More information concerning RMS can be found at its website www.rigmanager.com and on SEDAR.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • RMS SYSTEMS INC.
    Mr. Dave Hall
    Bay 10, 3419 12th Street NE
    Calgary, Alberta T2E 6S6
    (403) 717 9694