MONTREAL, March 21, 2006 (PRIMEZONE) -- CQIP Investments has forwarded a letter of Intent to Satelinx (Pink Sheets:SLXI) to acquire 51% of Satelinx. The deal would include the transfer of assets and businesses totaling over US$100 million over the next four months.
CQIP will also add a minimum of US$25 million through a letter of credit facility for further development and acquisitions.
About CQIP:
CQIP is an early/seed-stage through to mature stage hands-on venture capital investment firm dedicated to helping exceptional entrepreneurs build world-class companies. Typical investments can range between $250,000 and $1 million, and they follow that up with active participation in the various enterprises. CQIP's present portfolio includes:
-- Engineering quality inspection firm -- est. 2006 volume
$6 million
-- Global IP, satellite technology and service provider --
est. 2006 volume $16 million
-- Conglomerate of varied manufacturers and distributors --
est. 2006 volume $20 million
-- Consolidated companies in the construction industry --
est. 2006 volume $6 million
-- Local and national publisher and printer of varied newspapers
and journals -- est. volume $4 million
-- Environmental waste company -- est. 2006 volume $7 million
Included in the CQIP Investment team is the mayor of Saint-Lazare, Paul Carzoli.
"This is huge! Not only does it allow further growth in our existing products but it also adds new products for many new sectors. It also secures and ensures we have enough financial stability for many years to come," quoted Rob Ireland, CEO Satelinx.
About Satelinx Intl.
Satelinx International Inc. provides satellite vehicle tracking units that integrate GSM/GPS/GPRS wireless technologies and the Internet to deliver wireless vehicle tracking and location services. Satelinx seeks to be recognized as the world leader in providing safety and security solutions on a global scale in a cost-effective manner for vehicle owner, trucking or private vehicle fleet and insurance companies.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
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