SOURCE: Satelinx International Inc.

January 22, 2007 08:00 ET

Satelinx Signs Letter of Intent With Israeli Company

MONTREAL -- (MARKET WIRE) -- January 22, 2007 -- Satelinx (PINKSHEETS: SLXI) has signed a letter of intent with an Israeli company to distribute and sell its vehicle tracking and Personal tracking devices.

"With security and safety being the number one issue in Israel, we are confident that our product line will serve to be a major influence in the daily lives of people and companies in Israel. Satelinx continuously works to expand its customer base globally, and feels that the introduction of its products and services in one of the most security-minded countries in the world will prove to be a successful leap into our global goals," stated Sam Grinfeld, Chairman of the Board of Satelinx. "We would like to also announce the resignation of Jason C.C. Hu, Board Director. Mr. Hu will be greatly missed, and his efforts and accomplishments are greatly appreciated," said Sam Grinfeld.

About Satelinx

Satelinx International Inc. provides satellite vehicle tracking units that integrates GSM/GPS/GPRS wireless technologies and the Internet to deliver wireless tracking and location services. Satelinx seeks to be recognized as the world leader in providing safety and security solutions on a global scale in a cost-effective manner for vehicle owners, trucking or private vehicle fleet and insurance companies.

FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements, including forecasts of market growth, future revenue, benefits of the proposed merger, and expectations that the merger will be accretive to Satelinx's results and other matters that involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: difficulties encountered in integrating merged businesses; uncertainties as to the timing of the merger; approval of the transaction by the stockholders of the companies; the satisfaction of closing conditions to the transaction, including the receipt of regulatory approvals; whether certain market segments grow as anticipated; the competitive environment in the software industry and competitive responses to the proposed merger; and whether the companies can successfully develop new products and the degree to which these gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release. Satelinx undertakes no obligation and do not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release.

Contact Information

  • Contact
    Sam Grinfeld
    514-332-2523