Axion Spatial Imaging Signs Contract Under Its Five-Year Exclusive Partnership Agreement with Computing Devices Canada Ltd., A General Dynamics Company.EDMONTON, Alberta--(BUSINESS WIRE)--June 7, 1999-- Axion Spatial Imaging Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:AXON), a leader in geographic data storage and retrieval technology, today announced the signing of the first contract under its five-year exclusive partnership agreement with Computing Devices Canada Ltd., a General Dynamics company. The contract covers the integration of Axion's Advanced Digital Mapping Technologies (ADMT ADMT Active Directory Migration Tool ADMT Air Dry Metric Ton ADMT Automated Data Management Tool ) into Computing Devices' battleWEB battlefield command and control software. This contract with royalties to be received on the sale of the battleWEB software is part of a multi-year, multi-million dollar sale for Axion. Axion's conservative estimate for sales of battleWEB to exceed 75,000 units over the term of the agreement, which represents a fraction of the actual market. battleWEB is one of the first and most advanced situation awareness and battlefield management systems to be fielded in the world. battleWEB provides state-of-the-art command and control through common "core" software and varying "user interfaces" which allow it to be employed at every level from individual vehicles and personnel to formation headquarters. Axion's ADMT provides the software engine for instantaneous moving map manipulation, 2D/3D image display and analysis on a theater-wide scale. Computing Devices Canada, Canada's largest defense electronics company, is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of General Dynamics Corporation. General Dynamics (NYSE NYSE See: New York Stock Exchange :GD), based in Falls Church, Virginia Falls Church is an independent city in Virginia, United States. The population was 10,377 at the 2000 census. This city is a part of the Washington Metropolitan Area. A much larger number of people reside in Greater Falls Church , provides sophisticated defense systems to the United States and its allies. The corporation has 33,000 employees and has annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. sales of approximately US$5 billion. This press release has been reviewed and approved by Computing Devices Canada. Except for the historical information presented herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe-harbor" provision of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements. |
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