This news release went out on Tuesday, March 24, 1998:
PRODUCT PATENT AWARDED, PROJECT AHEAD OF SCHEDULE
VICTORIA, B.C., March 24, 1998 - E.S.I. Environmental Sensors Inc. (the "Company" / "ESI") announced today that the 'Cone Penetrometer', a new soil stability and moisture measurement instrument, has been awarded a patent; and that development and production are ahead of schedule. At a project meeting last week in Victoria, the joint partners, Canada's Federal Department of Agriculture ("Ag Canada") and ESI, reviewed development to date. A working prototype is now being tested in ESI's labs, and will be returned to Ottawa for field testing in spring and summer.
Ag Canada representatives, lead by senior researcher Dr. Clarke Topp, have returned to Ottawa to complete the documentation for software and mechanical engineering design. ESI will also proceed with finalizing the design for the data logger portion of the unit as well as the optional sensors.
The Cone Penetrometer measures soil's strength and indicates its resistance to penetration and/or compaction, i.e. how strong the soil is to support crops, structures, trench sides, road beds, etc. The core unit can be complimented by options which measure soil temperature and conductivity. Applications are for the agricultural, civil engineering and construction sectors and are global and varied.
Very significant interest in purchasing the product as soon as it is available has been indicated by fifteen organizations internationally. The Cone Penetrometer is projected to sell for a base price of C$10,000. Product awareness is expected to increase dramatically over the next several months as project team members Dr. Topp and Dr. B. Adams of Ag Canada and Mr. G. D. Young of ESI present papers at several international soil science symposiums, including: the International Soil Science Society (Montpellier, France), The Canadian Soil Science Association (Vancouver), the Soil Science Society of America (Baltimore), and the American Society of Agricultural Engineers (Orlando).
E.S.I. Environmental Sensors Inc. is an established environmental technology company based in Victoria, British Columbia. Since 1973, the Company has been involved in the manufacture, distribution, repair and calibration of marine environmental instruments; and more recently, the development, manufacture and marketing of its MoistureúPoint„ line of instruments for the agricultural, forestry, mining and site remediation industries. E.S.I. has distribution networks established in North America, Europe and Asia, with sales in over 30 countries.
E.S.I. Environmental Sensors Inc. shares are listed on the Vancouver Stock Exchange under the symbol "ENV".
On behalf of the Board of Directors:
Gail Gabel, Chief Executive Officer
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.
This release went out yesterday:
ESI ANNOUNCES PRIVATE PLACEMENT
VICTORIA, B.C., March 25, 1998 - E.S.I. Environmental Sensors Inc. (the "Company" / "ESI") is pleased to announce that the Company has secured commitments for the private placement of 230,000 units at $0.70, for total proceeds of $161,000. Each unit consists of one share and one warrant to purchase one additional share, exercisable for two years at $1.00. Proceeds will be used for working capital and to finance the Company's marketing program. The private placement is non-brokered and there are no commissions or finder's fees payable.
The Company also wishes to announce the cancellation of the private placement announced by the Company on November 10, 1997.
E.S.I. Environmental Sensors Inc. is an established environmental technology company based in Victoria, British Columbia. Since 1973, the Company has been involved in the distribution, repair and calibration of environmental instruments. The Company's principal focus is on the development, manufacture and marketing of its MoistureúPoint„ line of instruments for the agricultural, forestry, mining and site remediation industries. ESI has 16 fully-trained distributors in Europe, Japan and the United States, and has systems in over 30 countries.
E.S.I. Environmental Sensors Inc. shares are listed on the Vancouver Stock Exchange under the symbol "ENV".
On behalf of the Board of Directors:
Paul Tutsch, Director
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. |
