Athlone Global Security Investee Company Signs Agreement With Dynamatic Technologies of India
May 03 2010 - 9:52AM
Marketwired Canada
NOT FOR RELEASE IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES
Eurocontrol Technics Inc. (TSX VENTURE:EUO) ("Eurocontol" or the "Company"), a
Canadian public company specializing in the acquisition, development and
commercialization of innovative energy security, authentication and verification
technologies, together with Athlone Global Security Inc. ("Athlone"), are
pleased to announce that an investee company of Athlone, BlueBird Aero Systems
Limited ("Bluebird") has signed a agreement for the manufacturing, assembly and
marketing of Mini and Micro Tactical Unmanned Aerial Vehicles (UAVs) in India.
As previously announced, Eurocontrol and Athlone have entered into a definitive
agreement whereby Eurocontrol will acquire all of the issued and outstanding
shares of Athlone (the "Transaction") (See Press Releases Dated April 29, 2010
and April 5, 2010).
The agreement entered into between Athlone and Bluebird uniquely positions the
Dynamatic(R)-BlueBird partnership to emerge as a dominant player in the Indian
market for tactical UAVs. The agreement enables BlueBird, via Dynamatic(R), to
reach out to potential customers such as India's National Defence Forces,
Homeland Security Forces, Police and Civilian Agencies by providing
off-the-shelf combat proven and customised solutions for gathering real-time
visual intelligence in remote and hostile environments, as well as real time
monitoring and mapping capabilities for civilian applications.
BlueBird is a specialist in the design, development and manufacture of tactical
Unmanned Aerial Systems (UAS) solutions and offers a wide range of combat-proven
UAS products and technologies to customers across the world. Bluebird's unique
and patented technology delivers unprecedented products with unmatched
performance.
Dynamatic Technologies Limited produces highly engineered products for the
following applications: Automotive Sector, Aerospace & Defence Sector,
Agricultural Equipment Industry, Construction Equipment Industry.
About Eurocontrol Technics Inc.
Eurocontrol Technics Inc. through its wholly owned subsidiary Global Fluids
International S.A. ("GFI") is one of the world's pioneers in developing and
implementing innovative molecular marking systems for the oil industry. Through
its proprietary Petromark(TM) integral system, GFI has developed a 4-part
solution consisting of a molecular marker, injection, monitoring and control
components. Such oil industry cost realities along with GFI's 5-year R&D efforts
to create its industry-leading marking solutions, along with access to capital
provided by Eurocontrol Technics Inc. allows management to pursue numerous
anticipated oil marking opportunities in fiscal 2010 and in years to come.
About Athlone Global Security Inc.
A pioneer in the Homeland Security marketplace, Athlone Global Security Inc.
focuses on finding and investing in emerging growth companies specializing in
the development and distribution of imperative Homeland Security ("HLS") related
solutions. AGS operates principally from its offices at the in the U.S.A. and
Middle East. As a private investment group, AGS invests primarily in
technologically oriented, privately owned, and entrepreneurially managed HLS
companies that have developed unique products that can be readily adapted in
major global markets where there is great demand for these products in the
global war on terrorism. AGS' primary focus in sourcing its investment
opportunities is in Israel due to the wide breadth of opportunities available
and the strong team and infrastructure AGS has already established in Tel Aviv.
Due to the unique knowledge and expertise of counter-terrorism and HLS
technologies, Israel has become an attractive source of emerging HLS
technologies for North American and European markets.
Please visit the Company's web site at www.athloneglobalsecurity.com.
About Dynamatic Technologies Limited:
Dynamatic Technologies Limited produces highly engineered products for the
following applications: Automotive Sector, Aerospace & Defence Sector,
Agricultural Equipment Industry & Construction Equipment Industry. DYNAMATIC
AEROSPACE(R) (the relevant entity) is a pioneer & a recognized leader in the
Indian Private Sector for the development of exacting Airframe Structures and
Precision Aerospace Components. Dynamatic Aerospace(R) has closely partnered
agencies of national importance like the Ministry of Defence and Hindustan
Aeronautics Limited on key projects.The division is now further augmenting its
leadership position by collaborating with International Aerospace majors on
exports initiatives.
Regulatory Footnotes
Completion of the Transaction is subject to a number of conditions, including
TSX Venture Exchange acceptance and potential disinterested shareholder
approval. The Transaction cannot close until the required shareholder approval
is obtained. There can be no assurance that the Transaction will be completed as
proposed or at all.
Investors are cautioned that, except as disclosed in the Management Information
Circular to be prepared by Eurocontrol in connection with the Transaction, any
information released or received with respect to the business combination may
not be accurate or complete and should not be relied upon. Trading in the
securities of Eurocontrol should be considered highly speculative.
The TSX Venture Exchange has in no way passed upon the merits of the proposed
transaction nor approved or disapproved of the contents of this news release.
This press release shall not constitute an offer to sell or solicitation of an
offer to buy the securities in any jurisdiction. The securities will not be and
have not been registered under the United States Securities Act of 1933 and may
not be offered or sold in the United States absent registration or applicable
exemption from the registration requirements.
Cautionary Note Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation. Forward-looking information
includes, but is not limited to, statements with respect to the future financial
or operating performance of each of Eurocontrol, AGS and Bluebird and its
projects, including the implementation of the technologies and applications,
statements regarding technological prospects, statements regarding synergies and
financial impact of the proposed transaction, the terms and conditions of the
transaction, the benefits of the proposed transaction, costs of and capital for
projects, expenditures, timing of future technological developments,
requirements for additional capital, government regulation of industrial
operations, environmental risks, title disputes or claims, limitations of
insurance coverage and the timing and possible outcome of pending litigation and
regulatory matters. Generally, forward-looking information can be identified by
the use of forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes", or variations
of such words and phrases or state that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of activity,
performance or achievements of the Company (and the company resulting from the
successful completion of the proposed transaction) to be materially different
from those expressed or implied by such forward-looking information, including
but not limited to:
general business, economic, competitive, political and social uncertainties; the
actual results of current exploration activities; delay or failure to receive
board or regulatory approvals; timing and availability of external financing on
acceptable terms; the business of AGS and Eurocontrol and AGS not being
integrated successfully or such integration proving more difficult, time
consuming or costly than expected; not realizing on the potential benefits of
the proposed transaction; conclusions of economic evaluations; changes in
project parameters as plans continue to be refined; failure of plant, equipment
or processes to operate as anticipated; accidents, labour disputes and other
risks of the industrial industry; and, delays in obtaining governmental
approvals or required financing or in the completion of activities. Although the
Company has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking
information, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such
information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking information.
Eurocontrol and AGS do not undertake to update any forward-looking information,
except in accordance with applicable securities laws.
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