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iPackets International Signs a $10 Million Exclusive Worldwide Sales and Marketing Agreement With QuadTech International
Internet Wire via COMTEX
May 8, 2006 9:05:08 AM
VANCOUVER, BC, May 08, 2006 (MARKET WIRE via COMTEX News Network) --
iPackets International, Inc. ("iPackets") (OTC: IPKL), a global developer and provider of a wide range of wireless and communications solutions for selected enterprises including the mine-safety industry, announced today it has signed an exclusive three-year worldwide sales and marketing agreement with QuadTech International, Inc. ("QuadTech") (OTC BB: QTII) whereby QuadTech will serve as the exclusive global reseller of iPackets' pioneering mine-safety product, iPMine. The agreement is automatically renewable for an additional three years.
Under the terms of the agreement, QuadTech will pay iPackets $9 million in non-refundable installments against future system deliveries to acquire the rights to all proceeds generated from the sale of iPMine products, licenses, and services ("iPMine Systems") for the next three years. QuadTech also will pay iPackets a one-time US$1 million non-refundable payment for the exclusivity rights, subject to the achievement of specific milestones. For the first 24 months of the agreement, QuadTech has the first right of refusal to acquire either 100% of iPackets' issued and outstanding shares, or 100% of the iPMine intellectual property. The purchase price will be mutually agreed upon at the time of the acquisition.
iPackets agrees to sell the iPMine Systems to QuadTech at OEM prices. In addition, the iPackets management team has signed a three-year consulting agreement with QuadTech and will direct the day-to-day sales and marketing, and after sales functions as well as the worldwide promotion of iPMine Systems.
QuadTech will honor all of iPackets' current and in-progress distribution agreements, and iPackets will remain the sole owner of the iPMine intellectual property. iPackets also will continue to be responsible for product manufacturing, research and development, customer support, and system installation and deployment.
"This agreement offers iPackets greater leverage to grow the company organically and secure the funding required through sales without further dilution to iPackets' shareholders," said Naiel Kanno, president and CEO of iPackets.
"QuadTech continually seeks to expand into emerging technologies as part of our core business focus. We are very excited about this agreement and about the potential for iPMine technology in the international mining space," added John Meier, president and CEO of QuadTech.
About iPMine
iPMine, iPackets' flagship product targeting the mine-safety industry, is a real-time 2-way wireless communications solution to track, monitor, and communicate with miners and equipment underground and above ground. The location information of miners and equipment is collected and displayed live on one or more viewing monitoring stations against a background of a mine's terrain map. iPMine's scalability and flexibility features make it ideal to be deployed in any mine size supporting multiple levels and/or sites. iPMine's redundant communications feature makes the system highly reliable to efficiently operate in the harsh mining environment.
About QuadTech International, Inc.
QuadTech International is a global venture and provider of leading-edge technologies and solutions. QuadTech develops partnerships and/or acquires control in small-medium high growth businesses. QuadTech's management goal is to offer its shareholders an exceptional value through investments in a diversified portfolio of products serving multiple markets and industries. For more information, please visit www.quadtechint.com.
About iPackets International, Inc.
iPackets International is a global developer and provider of a wide range of wireless and communications solutions for selected enterprises including mine-safety. iPackets' solutions utilize a breakthrough wireless technology to manage data packets, reliably and efficiently, over any wireless network and virtually on any wireless device. For more information, please visit www.ipackets.com.
Certain statements included in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations.
Contact: Allegiant Financial Group 1 (866) 824-8227
SOURCE: iPackets International, Inc.
Copyright 2006 Market Wire, All rights reserved.
-------------------- The difference between genius and stupidity is that genius has its limits
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GOT THIS EMAIL TOO IPKL just inked a $10m deal this morning to license their mine-safety technology. The deal translates to $.26/share, while the stock is selling for $.07. Looks like an extremely undervalued situation to me...
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NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO Circuit.
LAKE HARMONY, PA, May 09, 2006 (MARKET WIRE via COMTEX News Network) --
QuadTech International, Inc. ("QuadTech") (OTC BB: QTII), a global provider of leading-edge technology solutions, announced today that it has signed a three-year exclusive worldwide sales and marketing agreement with iPackets International ("iPackets") (OTC: IPKL), whereby QuadTech will market and sell iPackets' iPMine mine-safety technology. The agreement is automatically renewable for an additional three-year period.
iPMine is a real-time two-way wireless communications solution designed to significantly improve the safety of miners and equipment in virtually any size mine and has been successfully demonstrated 1800 feet (600 meters) below ground in one of the largest nickel and copper mining operations in China. The stock also received a price target of $2.50.
Other active stocks are Wynn Resorts, Limited (NASDAQ: WYNN) and Millicom International Cellular S.A. (NASDAQ: MICC).
Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. A Third Party has hired and paid $895.00 for the publication and circulation of this report. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. We have no ownership of equity, no representation and do no trading of any kind.
Investors, have a look at QuadTech International, Inc. (OTC BB: QTII), a global venture and provider of leading-edge technologies and solutions. Monday, QuadTech announced that it has signed an exclusive three-year worldwide sales and marketing agreement with wireless and communications solutions provider, iPackets International, Inc. (OTC: IPKL). Under the agreement, which is automatically renewable for an additional three years, QuadTech will serve as the exclusive global reseller of iPackets' pioneering mine-safety product, iPMine. Targeting the mine-safety industry, iPMine is a real-time 2-way wireless communications solution to track, monitor, and communicate with miners and equipment underground and above ground
-------------------- The difference between genius and stupidity is that genius has its limits
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