FOR IMMEDIATE RELEASE
Gatekeeper Continues to Expand its U.S. Transit Business with Recent Acquisition, and SEPTA Contracts Worth $1.7 Million CDN
Abbotsford, BC April 9th, 2018 – Gatekeeper Systems Inc. (“Gatekeeper” or the “Company”) (TSX.V: GSI; OTC: GKPRF; FSE: 1GK) is pleased to announce that its newly formed subsidiary, “Gatekeeper Systems USA Inc.” (“Gatekeeper USA”), has purchased certain operating assets of Wilmington, Delaware-based Spector Logistics Inc. (“Spector”), which positions it for expansion in the US transit market. Spector Logistics’ founder, Robert (“Bob”) Welsh, has joined Gatekeeper in a business development role.
The assets acquired include a production facility, workforce with technical expertise which expands our capability in the train market, a command and control center in Wilmington designed to manage portable video installations for special events, crowd surveillance, and remote site-monitoring. Gatekeeper USA also acquired Spector’s contracts with the Southeastern Pennsylvania Transportation Authority (“SEPTA”) which are expected to generate approximately CDN $1.7 million in revenue through the provision of video system maintenance and support services of mobile video equipment on 2,400 of SEPTA’s 2,800 transit buses as well as to supply and install cameras, uninterruptable power supplies, and crashworthy hard drives on selected Philadelphia trains.
SEPTA is a regional public transportation authority that operates bus, subway/elevated commuter rail lines, commuter and light rail, and electric trolleybus services to nearly 4 million people in five counties in and around Philadelphia, Pennsylvania. SEPTA is the U.S.’s sixth largest rapid transit system by ridership and is ranked as the fifth largest with about 306.9 million annual unlinked trips. It operates 290 active stations, more than 450 miles (720 km) of track, 2,295 revenue-generating vehicles, and 196 routes.
Gatekeeper President and CEO Doug Dyment said, “I’m delighted that SEPTA has entrusted the service and maintenance of its video systems on approximately 2,400 vehicles to Gatekeeper Systems USA Inc. and we are looking forward to expanding our transit business in the region. Aligning with SEPTA provides an opportunity for additional revenue by way of a contract extension, as well as through the provision of additional video solutions and other services offered by Gatekeeper. We feel fortunate to have acquired high quality and immediately accretive assets and are particularly excited to have Bob Welsh, with his extensive experience in the transit, law enforcement, and military markets, join our management team.”
About Gatekeeper Systems Inc.
Gatekeeper provides high definition video integrated with GPS and vehicle sensors for mobile applications including school, transit buses, law enforcement and military applications.
The Company is headquartered in Abbotsford, British Columbia, Canada, and its shares are traded on the TSX Venture Exchange under the symbol “GSI”, on the OTC Markets under the symbol “GKPRF”, and on the Frankfurt Stock Exchange under the symbol “1GK”.
For more information visit: www.gatekeeper-systems.com.
On behalf of the Board,
President & CEO
Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may contain forward-looking information within the meaning of applicable Canadian securities laws or forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, including projected sales and revenue, plans, objectives, assumptions or expectations of future performance are forward-looking statements and contain forward-looking information. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, including that new contracts will be awarded as expected by management and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including the Company not being awarded new contracts and being unable to realize expected sales or revenues. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information, except in accordance with applicable securities laws. To the extent that any forward-looking information constitutes future-oriented financial information or financial outlooks within the meaning ofsecurities laws, such information is being provided to inform the reader of the potential financial impact of expected results and may not be appropriate for other purposes. We seek safe harbour.
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