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PetsMobility Inc., announced today that it has entered into a definitive distribution agreement with CIMBIX Corporation (OTC:BB CBXC) to sell the exclusive marketing & distribution rights to the PetsCell for the pet industry worldwide for PetsMobility's patented pending cellular technology.
Under the terms of the agreement, CIMBIX Corp. has agreed to pay a one time fee of $1,000,000 dollars US and a 5% fee, royalty fees due each calendar quarter.
Cameron Robb, President of PetsMobility is very satisfied with the agreement and says,” This agreement allows our company the opportunity to stay focused on the research and development of new and innovative technologies while providing us with revenue from licensing fees, product sales and royalties." “Due to the magnitude of the market potential for our product it is necessary to leverage the distribution networks of other companies,” added Robb.
The product is scheduled to be initially introduced to Law Enforcement K9 Units, Search & Rescue, Guide Dogs and the Military this fall. The company is ramping up to market the PetsCellTM along with other PetsMobility pet tracking devices, and various other related products for Christmas 2005. In addition, CIMBIX envisions this product to be the first of many innovative products and will continue to look for opportunities, which will allow PetsMobility to become a leader and innovator in the multi billion-dollar pet business Worldwide
Headquartered in Scottsdale, Arizona, with a Technology Development Centre in Vancouver, Canada, PetsMobility Newtorks (Canada) Inc. is a research and development company that has developed and has patent pending status for innovative communications technologies and location based services for both enterprise and consumer applications. PetsMobility’s primary marketing and sales objective is to license its’ technology and sell its’ trademarked product brands to established distributors. CIMBIX plans to change its’ name to PetsMobility Inc., and PetsMobility Network (Canada) Inc., plans to change its name to On4 Communications Inc.
For Corporate Information Contact: PetsMobility Network (Canada), Inc.
Ph. (604) 274-7387 Fax (604) 274-7380
Email: info@petsmobility.com
This press release contains "forward-looking" statements within the meaning of Section 21A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, are subject to the safe harbours created thereby. Such statements involve certain risks and uncertainties associated with an emerging company. Actual results could differ materially from those projected in the forward-looking statements as a result of risk factors discussed in PetsMobility, Inc. reports that will be on file with the US Securities and Exchange Commission (including but not limited to the report on Form 10KSB for the year ending December 31, 2005).
petsmobility.com
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