Battery & Wireless Solutions Inc. Announces New Business Development4 February 2005
The Board of Directors of Battery & Wireless Solutions Inc. (TSX VENTURE:BWS - News; the "Company") is pleased to announce the execution of a Memorandum of Understanding with Sensor Technologies and Systems, Inc.("STS") of Phoenix, Arizona. The Memorandum details the appointment of the Company as a non-exclusive sales representative in Canada of STS's proprietary Perimeter Surveillance Radar System (PSRS) and any derivatives thereof.
In accordance with the terms of the Memorandum of Understanding, the Company will be required to meet certain defined performance criteria, which are currently being developed jointly by both companies. The Company will assist STS in the development of collateral materials in support of the sales and marketing process in Canada. The Company will be paid a sales and fulfillment fee on an order-by-order basis based upon the gross sales price of the equipment.
PSRS is a wide area surveillance radar system developed by STS from its proprietary technology that has applications in security sensitive facilities and installations globally. PSRS is a portable, comparatively low cost system consisting of one or more remotely stationed radar sensors networked to a central control and display unit. The PSRS has all weather, all light-level capability and can detect either moving or stationary targets. The system is relatively small and lightweight and accordingly is easily transported, set up and can be configured for temporary or permanent installation.
The markets for the PSRS are many. Airports including flight lines and perimeters, military sites, power utilities particularly nuclear power generating plants and sub-stations, pipelines, port protection, construction sites, refineries and dams are just a few of the many applications of this unique technology and product grouping.
The Company is presently working with STS to quantify the size of each of these markets, however preliminary estimates are in excess of 1 billion dollars in Canada. As an example, commercial airports in Canada are seeking ways to secure both their flight lines and perimeters. The typical airport would require a minimum of four PSRS devices for flight line protection and up to twenty for perimeter surveillance. All markets have the same unit requirements based upon the area covered.
STS was founded in 1997, and has for many years been engaged in contract development work for the United States military. STS's core competency is in radar development and in particular wide area surveillance technologies. STS has a suite of products that are presently being commercialized for non-military markets. Distributors and sales agents have been identified throughout the world to exploit this unique and valuable product. STS and the Company will work closely to develop marketing strategies that can be utilized both in Canada and abroad.
Nik Nikula of STS stated that "the appointment of Battery and Wireless Solutions Inc. as a sales representative in Canada demonstrates a commitment by STS to build a truly global enterprise focused on providing the best of breed surveillance products designed to protect assets and people from the threats presented in the post-911 era. STS sincerely welcomes Battery and Wireless to its marketing and sales group."
Les Granholm, CEO of the Company expressed his commitment and enthusiasm with this appointment by stating the "the opportunities in Canada for PSRS are so large that our Company will be developing an entirely new division to aggressively pursue all market opportunities. We are very excited about this appointment."
Shareholders wishing additional information can visit the Company's website at www.bwsinc.com or STS' website at www.sensor-tech.com.
Additionally, the Company announces that pursuant to an agreement with Mr. Michael Bartlett, a director of the Company, fees for services, outside of his responsibilities as a director, will be settled by way of a debt settlement in shares in the amount of US $3750. per month over a twelve month period. Pricing of the shares will be at $0.17.
About Battery & Wireless Solutions Inc.
Battery & Wireless Solutions Inc. (TSXV: BWS) is Canada's largest independent distributor of battery and battery-related products. Through its core business units, Battery & Wireless Solutions brings together the infrastructure needed to offer an efficient, nationwide distribution network that touches every type of customer from large-scale distributors to end-user consumers. It is the only company in Canada offering a comprehensive range of products that fulfills every battery need including industrial, automotive, deep-cycle, motorcycle, consumer portable devices and more, featuring Duracell, Delphi, Trojan, Rayovac and Panasonic, as well as its own branded line of batteries such as Magnacharge. For more information visit www.bwsinc.com
On behalf of the Board of Directors,
BATTERY & WIRELESS SOLUTIONS INC.
Les Granholm, CEO
Forward Looking Information
Certain statements in this release, other than statements of historical fact, are forward-looking information that involves various risks and uncertainties. These can include, without limitation, statements based on current expectations involving a number of risks and uncertainties related to all aspects of the industry. These risks and uncertainties include, but are not restricted to, continued increased demand for the Corporation's products and the Company's ability to attract and maintain key employees. These uncertainties may cause actual results to differ from information contained herein. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of Management on the dates they are made and expressly qualified in their entirety by this notice. The Corporation assumes no obligation to update forward-looking statements should circumstances or Management's estimates or opinions change.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
BATTERY & WIRELESS SOLUTIONS INC. (TSX VENTURE:BWS - News)
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Contact:
Battery & Wireless Solutions Inc.
Les Granholm
CEO
(604) 525-0489
Email: les_g@bwsinc.com
Website: www.bwsinc.com
OR
Linear Capital Corp.
John Lewis
(416) 364-2266
1-877-600-6001
Email: jrlewis@linearcapital.com
Website: www.linearcapital.com
OR
Battery & Wireless Solutions Inc.
1279 Derwent Way
New Westminster, BC Canada V3M 5V9
(604) 525-0489
Fax: (604) 525-0392
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Source: BATTERY & WIRELESS SOLUTIONS INC.
Source: Business Wire via Yahoo
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