EDMONTON, Alberta--(BUSINESS WIRE)--Aug. 19, 1999--Axion Spatial
Imaging Inc. (OTC BB:AXONE.O), will distribute a general letter to
shareholders relating to recent corporate events.
The text of the letter to shareholders follows:
Dear Fellow Shareholder:
All of you noticed the recent addition of the "E" to our symbol
on the OTC BB, and many have wondered what is going on with respect to
our late filing with the SEC. We wanted to contact you, our
shareholders, with full details on what is going on and most
importantly to give you the proof again that your decision to invest
in this company was a sound decision.
First the administrative details -- We are just completing all
the documents and financial details which the NASD requires, and will
be sending these to them soon. We have been told that this will mean
we will be off the board for a short period of time. The process of
getting us back on the OTC BB may take a few months.
How will you be able to keep track of us? You will be able to
keep track of our progress on the Pink Sheet, information on how to do
this will be posted on our Website www.axionspatial.com. We are
committed to providing you with up to date information and any new
developments while we are off the OTC BB. We are also available to
answer any inquiries you may have.
Now down to the corporate business -- most of you have
demonstrated that you are with us for the long haul, because you
recognize that we are building a company that has a firm footing,
long-term and profitable cash flow, and the technology to ensure our
success and growth in the future. I thought it would be a useful
reminder to summarize the steps we have taken so far to get us to this
point. (You can find full details of each of these in the press
releases listed on our website, at www.axionspatial.com ).
The basis for our success is our ability to apply our core and
proprietary technologies to an exploding variety of applications
commercial, governmental, and military. The proof is in the range of
contracts and market expansions we have been able to secure five
significant ones in the past three months alone. In addition, these
contracts are the very best kind -- long-term royalties, and fees for
our ongoing work in collecting, compressing, and distributing
high-value data. In addition, we have developed a very strong
independent line of products at the retail level -- products in which
our innovative core technologies are the discriminating feature in
retail and entertainment software available to the public.
Here's our track record thus far:
-- On June 1, 1999, we signed an extension to our agreement with
Telus Multimedia (a division of Canadian telecommunications giant
Telus/BCTel) to continue licensing Axion Multi Media Products for
distribution to households over the Internet.
-- On June 7, 1999, we announced our expansion into the military
command and control market with the signing of an exclusive
5-year partnership with Computing Devices Canada, Ltd., Canada's
largest defense electronics company, and a wholly-owned
subsidiary of US defense contractor General Dynamics Corporation
(NYSE:GD.N). The contract covers the integration of Axion's
Advanced Digital Mapping Technology (ADMT) into Computing
Devices' battleWEBTM battlefield command and control software
program. A conservative estimate for sales of battleWEBTM
licenses is 75,000 units over the term of this agreement, for
which Axion will receive royalties for each unit sold.
-- On June 14, 1999 we announced an additional revenue stream from
sales of International Data Corporation (IDC)'s GeoOffice product
to US oil and gas markets. Geo Office uses Axion's Advanced
Digital Mapping Technology (ADMT).
-- Our Partnership with Boyd Geomatics has led to the signing of two
major contracts. First the signing of an exclusive agreement with
theWhitestar Corporation of Denver, Colorado, in which Axion's
Advanced Digital Mapping Technologies will be used exclusively in
Boyd's "Encompass" web-based mapping technology software, which
will be marketed and distributed to the billion-dollar US market
for oil and gas-related geo-imagery. Revenues are projected to be
in the $500,000 - $750,000 USD range. Second, the announcement of
Boyd's "Vision 2000" project to produce the primary source of
geo-imagery in the Province of Alberta, Canada. Axion's
technology is a critical component of this project with revenue
expectation of $400,000 to $600,000 in the first year with
additional revenues being generated from monthly royalties, and
sales of applications that Axion is developing that will access
this data online for retail and educational markets.
As you can see, Axion is off to a great start. We deeply
appreciate our shareholders' long-term confidence and support, and you
deserve to know how we are doing and where we are headed. With our
technology and contracts firmly in hand, we are now preparing for a
careful and aggressively targeted marketing thrust and the
introduction of new technologies and solutions that will fit into a
wide range of Internet-based data distribution challenges.
You've made a sound investment in our company, and with our
future thus secured, we are committed to building Axion Spatial
Imaging into a long-term, profitable, growing concern.
--30--MC/CER/se*
CONTACT: Axion Spatial Imaging Inc.
Ian Basford, President, 780/423-4413
Fax: 780/423-4468
email: ianb@axionspatial.com
www.axionspatial.com
or
Alliance Strategic (A.S.P.) inc.
Richard Diotte, 418/527-3362
Fax: 418/527-3870
Profile@total.net
KEYWORD: INTERNATIONAL CANADA
INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS
INTERACTIVE/MULTIMEDIA/INTERNET
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