BRAINTECH Inc. Completes Project Assisted by a Contribution From the National Research Council of Canada.VANCOUVER, British Columbia--(BUSINESS WIRE)--June 16, 1998-- BRAINTECH, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:BNTI BNTI Blind Nasotracheal Intubation ) (through Brainware Systems, Inc., 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 BrainTech, Inc.) announces it has completed the development of a tool for demonstration of BRAINTECH's patented BrainTron. This tool will become an integral element of the larger Odysee project. "The completion of this project is a strategic stepping-stone for our company's objective of delivering the best machine vision solutions to the market place including industrial, medical, and military applications," remarks Charles Hooge, manager for the project. He continued, "We appreciated the NRC's (National Research Council of Canada The National Research Council Canada (NRC) is Canada's leading organization for scientific research and development. History NRC was established in 1916, mainly to advise the government. Then, in the early 1930s, laboratories were built in Ottawa. ) involvement from a technical, as well as financial position." "The National Research Council's Industrial Research Assistance Program is committed to assisting (small) companies in sharing the risk in high technological research through financial and technical support," states Neil Bailey from the NRC-IRAP NRC-IRAP National Research Council - Industrial Research Assistance Program . For more than 80 years, the National Research Council of Canada has been the principal science and technology agency of the Canadian federal government. With sixteen research institutes located in eleven major centers across the country, NRC NRC abbr. 1. National Research Council 2. Nuclear Regulatory Commission Noun 1. NRC - an independent federal agency created in 1974 to license and regulate nuclear power plants is well positioned to foster regional economic innovation. Owen Jones, the Company's President states, "This IRAP IRAP Industrial Research Assistance Program (National Research Council, Canada) IRAP Imposta Regionale sulle Attività Produttive (Italy) IRAP Interleukin-1 Receptor Antagonist Protein contribution was instrumental in the development of this world-class technology. Financial support from the NRC is a testament to the value of the technology we're creating and we're pleased with the relationship we've built as a result of this project." Founded in 1994, BRAINTECH INC. specializes in the design, development and commercialization of advanced pattern recognition technologies and products. BRAINTECH is dedicated to building highly effective, low-cost adaptive pattern matching recognition systems based on its patented technologies. BRAINTECH INC. shares trade on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. under the symbol: BNTI. Please visit our Web site for further information, http://www.bnti.com. BRAINTECH, odysee, BrainTron are registered trademarks of BRAINTECH INC. 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 provides a "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " for forward-looking statements. Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by BRAINTECH INC.) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the high technology industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Braintech Inc. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financial activities, domestic and global economic conditions, changes in federal or state income tax laws, and market competition factors.
CONTACT: BRAINTECH
Investors: Manfred Kurschner at manfred@bnti.com
604/986-6121 ext.232 or FAX 604/980-7121
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