VATK news
Varitek Industries, Inc. Announces Mutual Termination With Wireless Data
Solutions, Inc.
HOUSTON--(BUSINESS WIRE)--Feb. 8, 2000--Varitek Industries, Inc. (OTCBB:VATK - news) announced jointly with Wireless Data Solutions, Inc.
(OTCBB:WDSO - news) that the Letter of Intent between Varitek Industries Inc. and Wireless Data Solutions, Inc. for the purpose of Varitek acquiring Wireless
Data Solutions, Inc. has been terminated by mutual agreement.
On December 28, 1999 Varitek Industries, Inc. announced the signing of an exclusive licensing agreement with Dinet Distributed Networks, Inc. a wholly owned
subsidiary of Wireless Data Solutions Inc., the developer of advanced satellite-locator, monitoring and communications technology, for the manufacturing, marketing
and licensing of their Vehicle Location Apprehension and Recovery System (VLARS) technology. This is a five-year licensing agreement with a five-year renewal
option which is in effect and ongoing.
Except for historical information, the matters discussed in this news release may be considered forward looking statements and could be subject to certain risks and
uncertainties that could cause the actual results to differ materially from those projected. These include uncertainties in the market, competition, legal, success of
marketing efforts and other risks detailed from time to time in the Company's SEC reports. The company assumes no obligation to update the information in this
release.
Contact:
Varitek Industries, Inc.
Investor Relations, 877/894-5921 |
