Advanced Explorations Inc. Announces Agreements on Hyperspectral Technology.TORONTO -- The Board of Directors of Advanced Explorations Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:AXI AXI Automated X-Ray Inspection (electronics) AXI Association Xpertise Inc (Calgary, AB, Canada) AXI Ada to X-Window System Interface .H) is pleased to announce that, on February 14 2005, the company signed a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. (MOU (Minutes Of Usage) A metric used to compute billing and/or statistics for telephone calls or other network use. ) with Earth Search Sciences Inc. (ESSI ESSI Ecole Supérieure en Sciences Informatiques (French) ESSI Eon Silicon Solution Inc ESSI Engineered Support Systems Inc. ESSI Education Statistics Services Institute ESSI European Systems and Software Initiative ) located in Montana, U.S.A. and Geologic Business Solutions Inc. (GBSI GBSI Group B Strep International (West Wareham, MA) ) of Toronto, Ontario. This MOU relates to the formation of a Joint Venture between the parties and the rights of Advanced Explorations Inc. (AEI) to acquire access and rights to a Probe-1 hyperspectral instrument and database from ESSI, and access to the hyperspectral expertise of GBSI (subject to Exchange approvals in Canada and the USA). The company will utilize this combination of hyperspectral imaging technology and unique technical expertise related to the application of hyperspectral technology to mineral exploration in order to generate revenues and secure equity positions in emerging exploration regions worldwide. AEI is currently being reactivated as a technology-based company, with a focus on providing these technologies to the global mineral exploration industry. Currently, AEI is in discussion with a number of companies with a strategy to provide a unique set of technological capabilities to the mineral industry. Shareholders will be advised if and when any progress or decisions are reached. This news release includes forward-looking statements that involve a number of risks and uncertainties. The information reflects numerous assumptions as to industry performance, general business and economic conditions, regulatory and legal requirements, taxes and other matters, many of which are beyond the control of the company. Similarly, this information assumes certain future business decisions that are subject to change. There can be no assurance that the results predicted here will be realized. Actual results may vary from those represented, and those variations may be material. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this release. Advanced Explorations Inc. (TSX VENTURE:AXI.H) |
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