NEWS
JAWS Technologies and Glentel Inc. Sign Investment Agreement and Strategic Alliance Partnership
CALGARY, July 12 /CNW/ - JAWS Technologies Inc. (NASD-OTC BB:''JAWZ''),
a provider of the best in information security technologies and practices, is
pleased to announce that JAWS and Glentel Inc. ''Glentel'' have closed a
significant business alliance agreement which includes a purchase of JAWS
shares by Glentel.
In a deal which will advance Glentel's strategic plan to deliver advanced
global wireless data services in the most secure method possible, Glentel and
JAWS Technologies have signed an investment agreement and entered into a
business alliance partnership. Glentel and JAWS will explore and develop
highly sophisticated wireless data services using JAWS security products and
tools. The proposed secure wireless data services will be offered to Glentel
and JAWS existing clients along with advanced secure services to new and
prospective corporate clients. This transaction is the result of
negotiations, which began in February of this year. An integral part of this
transaction is an immediate $1.5 million private placement by Glentel into
JAWS. As the secure wireless services are completed, full details will be
announced.
''Glentel's interest in JAWS Technologies has presented us with the
opportunity to fully explore the opportunities in the wireless data services.
Given the enormous advancements in this market overseas, we see this as a
tremendous opportunity to move into the international wireless security market
and with a significant partner to help advance this cause. Glentel's
management have proven to be innovative and aggressive with their approach to
the market and given the directions they are helping us take we believe that
our wireless security product division will generate significant revenue in
the multi-millions by the year 2001,'' says Robert Kubbernus CEO of JAWS
Technologies.
''Two significant issues exist in our customers' minds - reliability and
security. With this partnership and our investment in JAWS we are excited
about future opportunities to deliver state-of-the-art security to wireless
customers. JAWS Technologies has proven to be a leader in their field and
demonstrated a dynamic approach to new product development. Their existing
security product suite fits well with our 'Best of Breed' approach to our
current offerings. We are also excited about the investment opportunity in
this company given our investigation of the market, our client's demands, the
products and management team of JAWS. The market size for wireless data
services reaches into the billions and has a world wide reach. No companies
have mastered the security and delivery aspects of true wireless data
transmission. We believe this will give us the market advantage needed to
capture a significant share in this market,'' states Mr. Tom Skidmore,
President and CEO of Glentel Inc.
''After reviewing the alliance agreement between JAWS and Glentel, we
firmly believe the new relationship between these two companies benefits both
shareholder groups. Glentel's investment demonstrates to us a substantial
commitment in both a financial and a commercial sense,'' states Mr. Robert
Wilson, Executive Vice President Capital Markets, Thomson Kernaghan & Co. Ltd.
''We are very pleased with the successful business and financial relationships
that JAWS has been able to develop with Glentel and JAWS' numerous other
partners.''
About JAWS Technologies
JAWS Technologies Inc. (NASD-OTC BB: ''JAWZ'') is dedicated to the
development and integration of information risk management strategies for
secure business practices on a global scale. JAWS Technologies offers an
extensive security consulting practice that addresses explicit business
requirements. The JAWS IT Security Practice, performed by a team of high
caliber security experts, encompasses a robust series of IT audit routines.
JAWS Technologies is at the forefront of the security industry with
uncompromised security technologies. The sophistication of proprietary
security technology solutions coupled with leading edge packaged data
encryption software products provides JAWS clients fast, strong and
easy-to-use security management tools. For more information, visit the
company's web site at jawstech.com. Forward all investment
inquiries to invrel@jawstech.com or call 1-888-301-5297.
About Glentel
Glentel Inc. is one of Canada's leading business and personal wireless
integrated solution providers. It operates over 240 antenna sites in Canada,
11 Glentel wireless business centers and 11 wireless retail stores,
integrating products and services utilizing mobile two - way radio, data,
satellite, paging, cellular and PCS to meet the needs of a broad range of
customer applications. Customers include municipalities, government
departments, corporations and personal users.
About Thomson Kernaghan
Thomson Kernaghan & Co. Ltd. was originally established in Toronto,
Canada, in 1949. Thomson Kernaghan is one of the oldest privately owned
investment dealers in Canada, providing a wide range of brokerage services to
its corporate, institutional and retail clients.
Forward-looking statements and comments in this press release are made
pursuant to safe harbor provisions of the Securities Exchange Act of 1934.
Such statements relating to, among other things, the prospects for the
companies to complete the transaction and enhance operating results, are
necessarily subject to risks and uncertainties, some of which are significant
in scope and nature. These risks may be further discussed in periodic reports
and registration statements to be filed by the Company from time to time with
the Securities and Exchange Commission in the future.
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For further information: Robert Kubbernus - CEO, JAWS Technologies
Inc., 1-888-301-5297
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