Battery & Wireless Solutions Inc. Announces New Business Development.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- The Board of Directors of Battery & Wireless Solutions Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:BWS BWS Board of Water Supply (Honolulu, Hawaii) BWS Beckwith-Wiedemann Syndrome BWS Black Wall Street (Hip-Hop record label) BWS Battered Woman Syndrome BWS Beer, Wine and Spirits )(the "Company") is pleased to announce the execution of 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. with Sensor Technologies and Systems, Inc.("STS (Synchronous Transport Signal) The electrical equivalent of the SONET optical signal. In SDH, the European counterpart of SONET, STS is known as STM (Synchronous Transport Module). ") of Phoenix, Arizona Phoenix /ˈfiːˌnɪks/ (English: Phoenix, Navajo: Hoozdo, lit. "the place is hot", Western Apache: Fiinigis) is the capital and the most populous city of the U.S. . The Memorandum details the appointment of the Company as a non-exclusive sales representative in Canada of STS's proprietary Perimeter Surveillance Radar Perimeter Surveillance Radar (PSR) is a class of radar sensors that monitor activity surrounding or on critical infrastructure areas such as airports, seaports, military installations, national borders, refineries and other critical industry and the like. System (PSRS PSRS Public Service Resourcing System PSRS Patient Safety Reporting System PSRS Pennsylvania State Employees Retirement System PSRS Preliminary Software Requirements Specification PSRS Piecewise Stationary with Repeating Statistics ) and any derivatives thereof. In accordance with the terms of the Memorandum of Understanding, the Company will be required to meet certain defined performance criteria, which are currently being developed jointly by both companies. The Company will assist STS in the development of collateral materials in support of the sales and marketing process in Canada. The Company will be paid a sales and fulfillment fee on an order-by-order basis based upon the gross sales Gross Sales A measure of overall sales that isn't adjusted for customer discounts or returns, calculated simply by adding all sales invoices, and not including operating expenses, cost of goods sold, payment of taxes, or any other charge. price of the equipment. PSRS is a wide area surveillance radar system developed by STS from its proprietary technology that has applications in security sensitive facilities and installations globally. PSRS is a portable, comparatively low cost system consisting of one or more remotely stationed radar sensors Radio detection and ranging (radar) is used to sense angle, range and velocity of (moving) scatterers in the environment [1] [2]. Radar sensor figures of merit include maximum range and solid angle, as well as angular, range and velocity resolution. networked to a central control and display unit. The PSRS has all weather, all light-level capability and can detect either moving or stationary targets. The system is relatively small and lightweight and accordingly is easily transported, set up and can be configured for temporary or permanent installation. The markets for the PSRS are many. Airports including flight lines and perimeters, military sites, power utilities particularly nuclear power generating plants and sub-stations, pipelines, port protection, construction sites, refineries and dams are just a few of the many applications of this unique technology and product grouping. The Company is presently working with STS to quantify the size of each of these markets, however preliminary estimates are in excess of 1 billion dollars in Canada. As an example, commercial airports in Canada List of airports in Canada is an organized list of airports in Canada. Due to the size of the list it has been broken down into: • • are seeking ways to secure both their flight lines and perimeters. The typical airport would require a minimum of four PSRS devices for flight line protection and up to twenty for perimeter surveillance. All markets have the same unit requirements based upon the area covered. STS was founded in 1997, and has for many years been engaged in contract development work for the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. military. STS's core competency A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
Nik Nikula of STS stated that "the appointment of Battery and Wireless Solutions Inc. as a sales representative in Canada demonstrates a commitment by STS to build a truly global enterprise focused on providing the best of breed surveillance products designed to protect assets and people from the threats presented in the post-911 era. STS sincerely welcomes Battery and Wireless to its marketing and sales group." Les Granholm, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the Company expressed his commitment and enthusiasm with this appointment by stating the "the opportunities in Canada for PSRS are so large that our Company will be developing an entirely new division to aggressively pursue all market opportunities. We are very excited about this appointment." Shareholders wishing additional information can visit the Company's website at www.bwsinc.com or STS' website at www.sensor-tech.com. Additionally, the Company announces that pursuant to an agreement with Mr. Michael Bartlett, a director of the Company, fees for services, outside of his responsibilities as a director, will be settled by way of a debt settlement in shares in the amount of US $3750. per month over a twelve month period. Pricing of the shares will be at $0.17. About Battery & Wireless Solutions Inc. Battery & Wireless Solutions Inc. (TSXV: BWS) is Canada's largest independent distributor of battery and battery-related products. Through its core business units, Battery & Wireless Solutions brings together the infrastructure needed to offer an efficient, nationwide distribution network that touches every type of customer from large-scale distributors to end-user consumers. It is the only company in Canada offering a comprehensive range of products that fulfills every battery need including industrial, automotive, deep-cycle, motorcycle, consumer portable devices and more, featuring Duracell, Delphi, Trojan, Rayovac and Panasonic, as well as its own branded line of batteries such as Magnacharge. For more information visit www.bwsinc.com On behalf of the Board of Directors, BATTERY & WIRELESS SOLUTIONS INC. Les Granholm, CEO Forward Looking Information Certain statements in this release, other than statements of historical fact, are forward-looking information that involves various risks and uncertainties. These can include, without limitation, statements based on current expectations involving a number of risks and uncertainties related to all aspects of the industry. These risks and uncertainties include, but are not restricted to, continued increased demand for the Corporation's products and the Company's ability to attract and maintain key employees. These uncertainties may cause actual results to differ from information contained herein. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. are based on the estimates and opinions of Management on the dates they are made and expressly qualified in their entirety by this notice. The Corporation assumes no obligation to update forward-looking statements should circumstances or Management's estimates or opinions change. 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 not reviewed and does not accept responsibility for the adequacy or accuracy of this release BATTERY & WIRELESS SOLUTIONS INC. (TSX VENTURE:BWS) |
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