PRAV moving on news...
News has not hit the wires, I found this on the RB board.
ragingbull.altavista.com
***NEWS*** PRAV Awarded (US)$60Million Multi-Year Contract For It's L-Biz(TM) Location Tracking Technology By Special Circuits Inc.
FOR: PARADIGM ADVANCED TECHNOLOGIES, INC.
OTC BULLENTIN BOARD SYMBOL: PRAV
AUGUST 23, 2000 - 11:47 EDT
Paradigm Advanced Technologies Inc. Awarded (US)$60
Million Multi-Year Contract For It's L-Biz(TM) Location
Tracking Technology By Special Circuits Inc.
TORONTO, ONTARIO--
Agreement Provides Exclusive Marketing And Location Service Rights
in Specific Markets of the Southeastern United States
Paradigm Advanced Technologies, Inc. of Toronto (OTCBB:PRAV)
(www.powerloc.com), through its PowerLOC
wireless-position-location division, announced it has executed a
purchase and exclusive licensing agreement with Special Circuits,
Inc. ("SCI") (www.specialcircuits.com) of Atlanta, GA, an
electronics contract manufacturer, to become a location service
provider (LSP) offering PowerLOC's L-Biz(TM) wireless GPS location
products and Internet-based service technology to targeted markets
in the Southeastern United States.
Delivery of the initial committed order will commence in fourth
quarter of this year, and has a value (US)$1.7 million. The
initial order represents only a small part of SCI's long- term
commitment for products and technology. The five-year license and
marketing agreement provides SCI with cost effective
location-based and tracking technology, which will allow them to
provide these services to a range of transportation and personal
applications markets in Georgia, Alabama, Florida, North Carolina,
South Carolina, Louisiana and Mississippi.
As part of the agreement, PowerLOC will build and brand for SCI
mobile location tracking devices that utilize PowerLOC's L-Biz(TM)
GPS navigation data and wireless technology. The devices will be
targeted to the transportation and fleet markets and also the
medical/health care industry -- a high demand exists in this area
for use by the elderly and those with health problems such as
patients with Alzheimer's.
"This is our third in a string of recent agreements as we continue
to commercialize and bring to market our L-Biz (TM) products,
services and technology," says Paradigm's President/CEO Eduardo
Guendelman. "Part of our business strategy is to license companies
who wish to become Location Service Providers (LSPs) like Special
Circuits. We provide them not only with the license to use the
technology, but also the turnkey business that consists of the
L-tracker server, specialized software for client use via the
Internet, and our miniature mobile devices. Our technology
provides customers with the ability to quickly and precisely
identify the location of any asset or individual."
"This agreement gives us tremendous competitive advantage in our
target markets," adds Stephanie Banks, SCI's Director of Sales and
Marketing. "Not only can we provide robust solutions to our
customers' location-based needs, but with PowerLOC's expertise, we
can deploy new mobile tracking products and applications sooner in
response to changing market demands."
Paradigm is the exclusive worldwide agent of a broad-based
wireless location patent (US Patent #B1 5,043,736) covering the
apparatus and method of transmitting position information from
satellite navigational signals (like GPS) over cellular systems to
a base unit, and displaying the location of a person or object so
equipped.
Paradigm's ownership covers all fields of use for the patented
system, excluding criminal justice applications. The company
announced on May 23, 2000 that it has secured an agreement to
acquire the above rights for US Patent #B1 5,043,736. Visit
Paradigm's web site at www.powerloc.com that showcases some of its
advanced new wireless location technologies and products.
About Paradigm Advanced Technologies, Inc.
Headquartered in Toronto, Paradigm Advanced Technologies, Inc.
(www.powerloc.com) is a world-leader in wireless location-based
electronic commerce (L-Commerce). Paradigm fully owns PowerLOC
Technologies Inc. and Power Point Micro Systems Corporation.
PowerLOC provides a comprehensive range of L-Commerce and
L-Business products and services including a family of proprietary
wireless-location devices for this emerging industry and for
location-based service providers (LSPs) in particular. PowerLOC
has established a strategic alliance with Compugen Systems Ltd.
(www.compugen.com), one of Canada's largest and most respected
systems integrators with over 500 employees operating from 8
locations nationwide. According to the agreement, Compugen will
license PowerLOC's technology and receive distribution certain
rights to products developed by PowerLOC. PowerPoint Micro Systems
is a telecom consulting organization, which has successfully
completed more than 100 turnkey telecommunications projects in 11
countries worldwide.
About Special Circuits, Inc.
Based in Atlanta, GA, Special Circuits, Inc.
(www.specialcircuits.com) is an electronics contract manufacturer
with an expanding services division aimed at the commercial
location tracking solutions market. The company researches,
designs and develops products under its own operating structure or
on a contractual basis through licensing agreements. The tracking
services division is built on industry-wide commercial
relationships throughout the Southeastern United States.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Sacke & Associates
Sheldon Rose, VP Client Services
(416) 218-1102
Media Relations
sheldonr@sackepr.com
or
Paradigm Advanced Technologies, Inc.
Selwyn Wener, CFO
(905) 707-2158
Investor Relations
swener@powerloc.com
or
Special Circuits Inc.
Stephanie Banks Director, Sales & Marketing
sdiesbanks@aol.com
INDUSTRY: DTC
SUBJECT: BFC |
