The Shareholders of BSM Technologies Inc. and Datacom Wireless Corporation Approve Their Business Combination
September 24 2009 - 12:17PM
Marketwired
BSM Technologies Inc. ("BSM") (TSX VENTURE: GPS) and Datacom
Wireless Corporation ("Datacom") (TSX VENTURE: DAT) are pleased to
announce that at their respective meetings of shareholders held
yesterday, over 99% of the votes cast at each meeting were voted in
favour of their proposed business combination, more fully described
in the joint press release of August 21, 2009. The closing of the
business combination is scheduled to occur on September 25, 2009.
Following closing, the common shares of Datacom will be delisted
from the TSX Venture Exchange.
The business combination will be in the form of an amalgamation
of Datacom with a wholly-owned subsidiary of BSM. Each common share
of Datacom will be exchange for approximately 4.2421 common shares
of BSM, such that, upon completion of the business combination, the
holders of common shares and stock options of Datacom will own
40.5% of all BSM securities outstanding, on a fully diluted
basis.
On completion of the business combination, the board of
directors will initially be comprised of 9 directors, 5 of which
will be nominees of BSM and the others will be nominees of
Datacom.
About BSM Technologies
BSM Technologies designs, manufactures and markets a
comprehensive line of AVSL ("Automatic Vehicle Security and
Tracking") solutions for Commercial and Government Fleet
Management, including Law Enforcement, through its subsidiary BSM
Wireless. The BSM line of products range from Fleet Management and
Consumer Vehicle Protection offerings to the full featured
"Stinger" product featured in news media worldwide as the key
technology behind the Bait and Covert application used by hundreds
of Law Enforcement agencies to deter vehicular, trailer and heavy
equipment theft.
Superior functionality, seamless switching between two separate
footprints, enhanced reliability, advanced security features, and
excellent value characterize BSM products. By incorporating
advanced wireless locating and mapping technology, and IP-based
communications protocols, the BSM line of products provides
sophisticated real-time monitoring and control of commercial and
personal vehicle assets to meet the demanding needs and stringent
requirements of today's mobile environments. BSM's unique end to
end solutions feature sophisticated wireless hardware, firmware and
software all developed by and proprietary to BSM. The BSM product
line can be easily adapted and customized to match any customer
user requirement while BSM's in-house support infrastructure
assures that all clients receive the premium AVSL solution in the
industry to meet their needs.
About SecTrack
SecTrack sells Inmarsat D+ transceivers and airtime subscription
to value added resellers around the world. These VARs are typically
local companies who have built a proper monitoring and tracking
service for end-users in a multitude of maritime and land based
sectors including nuclear transport monitoring, mining, security
tracking of trucks, trailers and other vehicles and tracking of
airplanes and rescue helicopters. The company's customer base is
spread over Europe, Asia, Africa and Central and South America.
About Netistix Technologies
Incorporated in 2002, Netistix Technologies Corporation is
headquartered in Ottawa, Canada and has developed a comprehensive
and customizable wireless fleet management solution known as
"FleetPulse".
The Netistix "FleetPulse", Wireless Fleet Management System,
delivers actionable information that reduces fleet operation and
environmental costs, improves productivity and increases
safety.
For more information, please visit http://www.netistix.com
About Datacom Wireless Corporation
Founded in 1999, Datacom has grown to become one of the Canadian
leaders in the design, development and marketing of mission
critical vehicle fleet management and theft prevention solutions.
Its products and services use wireless communications and
satellite-based tracking technologies (GPS) and a state-of-the-art
ASP information portal.
Except for historical information contained herein, certain
statements contained in this release constitute forward-looking
information. These statements relate to future events or future
performance. The use of any of the words "could", "intend",
"expect", "believe", "will", "projected", "estimated" and similar
expressions and statements relating to matters that are not
historical facts are intended to identify forward-looking
information and are based on BSM's or Datacom's current belief or
assumptions as to the outcome and timing of such future events.
Actual future results may differ materially. In particular, this
release contains forward-looking information relating to the board
composition of BSM following the proposed transaction and the
closing date of the proposed transaction.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: BSM Contact: BSM Technologies Inc. Mr. Aly Rahemtulla
President & CEO 1-905-265-1200 aly@bsmwireless.com /
www.bsmwireless.com Datacom Contact: DATACOM Pierre Belanger Acting
President and CEO +1-450-781-6020 pbelanger@datacom.com
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