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Gold/Mining/Energy : Markatech - MKD (VSE)
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To: Ron Gilbert who wrote (82)3/21/1997 7:24:00 PM
From: Luc Beaugrand   of 416
 
Pan-Tech transaction terminated; agreement for AutoNet beta test

Markatech Industries Corporation MKD
Shares issued 8,327,149 Mar 20 close $0.30
Fri 21 Mar 97 News Release
Mr Douglas McLean reports
The company has terminated its agreement to acquire a 70% interest in
Pan-Tech Systems Inc effective March 21 1997. This decision was made by the
board due to Pan-Tech's inability to fulfill a requirement of the
acquisition agreement, which required Pan-Tech to provide assurances from
Matsushita Electric of Canada acceptable to the company, After the
conclusion of the proposed acquisition, as to the certainty of the
continuing exclusive Panasonic dealership licence which Pan-Tech's business
is based on.
Mr McLean also reports
Following an operational demonstration of the company's re-engineered
AutoNet System, Metro Parking has entered in to an agreement with the
company to be a beta test user of the AutoNet system with the commencement
date targeted for April 14 1997.
The company's AutoNet citation issuing parking enforcement system is based
on a hand-held Epson computer which features full touch screen
functionality and a built in thermal printer for ticket issuing while
communicating wirelessly in a real time mode to the parking organizations
host computer system. The AutoNet product's ability to operate in a
wireless interactive mode brings a new level of technology to the parking
industry.
Metro Parking, a Vancouver based private company, is the second largest
parking management company in BC which is entering its 45th year of
operation within the parking industry. Metro will provide the company with
valued input as to the reporting, functionality and ease of use of the
AutoNet wireless, handheld ticket issuing unit operating in a real time
mode.
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