ORLANDO, Fla., Nov. 22, 2005 (PRIMEZONE) -- DataMetrics Corporation (Pink Sheets:DMTI) today announced it has closed on the sale of its headquarters building located at 1717 Diplomacy Row, Orlando Florida to SG DMTI, LLC ("SGD"). Concurrent with the closing, DataMetrics Corporation and SGD entered into a five year triple-net lease with an additional five year option. Daniel Bertram, President and CEO of DataMetrics, further announced that the company and SGD also have an agreement in principle for a restructuring of the Company's debt obligations which, if consummated, will result in the infusion of fresh operating capital into the company. Financial details were not immediately available.
"The sale/leaseback represents the first of many important and exciting events in a significant corporate reorganization that will ultimately strengthen our financial position and provide capital needed to grow the business," said Mr. Bertram.
DataMetrics Corporation (www.datametrics.com) designs, develops, and manufactures ruggedized printers, plotters, workstations, PCs, flat panel monitors, VMEs and peripherals (disk drives, tape drives, keyboards, trackballs and other equipment) for government, defense, aerospace, and industrial customers worldwide. DataMetrics(tm) also offers a wide range of services including engineering design, environmental testing, and build-to-print capability that utilize our 40 years of experience.
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties, such as quarterly fluctuations in operating results, the timely availability of new products, the impact of competitive products and pricing, and other risks detailed in the Company's filings with the Securities and Exchange Commission, including the Company's Form 10-K for the fiscal year ended October 28, 2003. These risks and uncertainties could cause actual results to differ materially from any forward-looking statements made in this press release.