Imagis addresses recent market activity
September 09, 2002 09:01:00 AM ET
VANCOUVER, Sept. 9 /PRNewswire-FirstCall/ - Imagis Technologies Inc., (the "Company"), advises that it knows of no material changes within the Company that would account for the recent decline in the trading price of the Company's shares.
Red Herring magazine has published in the September 2002 issue a column by a writer who calls himself the "Contrarian". In the column, the author defamed both the company and its management. The Company has notified Red Herring that it takes extreme exception to misstatements of fact as well as the false and unfounded innuendo that arises from the misstatements. A full and complete explanation of the factual errors and omissions as well as the basis for Red Herring's legal liability have been provided to Red Herring's counsel.
The Company has engaged senior litigation counsel to review and advise on its legal recourse.
About Imagis Technologies Inc.
Imagis Technologies IGSTF is a leading developer of biometric systems using advanced facial and image recognition technology. This includes biometric security solutions and facial identification solutions for such industry sectors as law enforcement, airports, customs & immigration, driver's licenses & passports, and other government agencies. In addition to providing stand-alone software solutions, Imagis offers a biometric facial recognition Software Development Kit (SDK) to third-party integrators and other software providers who want to develop their own biometric solutions based on Imagis' technology.
The Company, whose Chairman is Oliver "Buck" Revell, the former Associate Deputy Director of the FBI, has over one hundred installations of its software in the United States, the United Kingdom, Canada, Latin America, and Asia- Pacific, including Britain's National Crime Squad (NCS), more than 50 RCMP detachments and police departments across Canada, over 40 police departments across the US, New Zealand Customs, and Toronto's Pearson International Airport.
Imagis' technology has been endorsed by leading security agencies and police organizations around the world as an effective tool in identifying criminals, reducing fraud, assisting investigations, and preventing terrorism. More details on Imagis can be found on the Web at imagistechnologies.com
Contact:
Imagis Technologies Inc. Typhoon Capital Consultants
Michael O'Connor Sanjay Sabnani, President
Director Investor Relations Tel: (310) 349-2245
Tel: (604) 684-4691 E-mail: sanjay@typcap.com
imagistechnologies.com
ON BEHALF OF THE BOARD OF DIRECTORS
Iain Drummond
President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. SOURCE Imagis Technologies Inc.
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