Vigil Signs an Agreement to Sell all of its Assets to Datacom Wireless Corporation
Market Wire, July, 2007
Vigil Locating Systems Corporation ("Vigil GPS") (TSX VENTURE: VIG) announces today that it signed with its wholly-own subsidiary an agreement to sell all or substantially all of their assets to Datacom Wireless Corporation (TSX VENTURE: DAT) for a maximum purchase price of one million Canadian dollars (CAD$1,000,000), including $ 275 000 payable in cash and approximately $ 725 000 by way of assumption of liabilities. Datacom Wireless Corporation has its activities in the same field of Vigil GPS and will therefore continue the commercial operations of Vigil GPS. The closing is to be announced following the completion of all of the closing conditions.
The President, Chief Executive Officer and Chief Financial Officer, Julien Joly, declares: "the management estimates it to be in the best interest of the shareholders to proceed with this reorganisation plan of the commercial activities of Vigil GPS, due to the unavoidable present context of the business and the market competition in the field of the vehicle location and recovery systems".
The agreement is made at arms length. Furthermore, this agreement is subject to the shareholders' approval and that of the TSX Venture Exchange and other regulatory authorities.
About Vigil Locating Systems Corporation ( www.vigilgps.com )
Vigil GPS specializes in the conception and commercialization of vehicle location and recovery systems by using three well-proven strategies: satellite GPS, cellular communications and Internet access. Vigil GPS has developed the very first interactive telematics solution for vehicles and commercial fleets in the marketplace. Vigil GPS modular systems are capable of instantly detecting and reporting events such as thefts and intrusions. Vehicles equipped with Vigil GPS units can be monitored 24/7. Vigil GPS is recognized by more than 30 insurance companies across Canada.
FORWARD-LOOKING INFORMATION - This press release contains forward-looking statements reflecting Vigil GPS objectives, estimates, expectations and the impact of acquisitions on Vigil GPS's financial performance. By their very nature, these types of statements involve risks and uncertainty. Consequently, reality may differ materially from Vigil GPS's projections or expectations.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts: Vigil Locating Systems Corporation Mr. Julien Joly 514-683-6000 www.vigilgps.com
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn't Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Content provided in partnership with
Most Recent Business Articles
- Freudenberg IT Invests $38 Million for Growth
- Research and Markets: Israel Ophthalmic Devices Investment Opportunities, Analysis and Future Forecasts Through to 2015
- Research and Markets: Emerging APAC (China) Networking Opportunity 2009 - Addressing a Growing Demand in a Downturn Economy
- Research and Markets: Indian Small & Medium Businesses SaaS Channel Partners 2009 - A Growing Opportunity in a Challenging Business Environment
- Research and Markets: Nippon Oil Corporation LNG Export and Import Markets, 2000 to 2015 Report - Profile and Analysis and Forecasts of Terminal Wise Capacity and Associated Contracts
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- Using object-oriented analysis and design over traditional structured analysis and design
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Design a commission plan that drives sales - Sales Commissions



