Gatekeeper Completes $4 Million Transit Video Upgrade Contract

Gatekeeper Completes $4 Million Transit Video Upgrade Contract

Abbotsford, BC – February 22, 2023 – Gatekeeper Systems Inc. (‘Gatekeeper’ or the ‘Company’) (TSX-V:GSI) (OTC:GKPRF), a video and data solutions provider for public transportation and smart cities, is pleased to announce the completion of a transit video upgrade contract for approximately US $2.94 million (approximately CAD $4 million) previously announced by the Company on December 12, 2022. The Company intends to recognize the corresponding sales revenue of this contract during its second fiscal quarter ending February 28, 2023, in addition to the Company’s regular business.

Doug Dyment, CEO of Gatekeeper, commented: “This contract is one of the largest contracts in our Company’s history. We are very proud of our team’s execution within the short two-month time frame and during a period where we also continue to see growth in our regular business. We expect the CAD $4 million contract revenue will significantly bolster the Company’s second fiscal quarter revenue and we are very optimistic regarding the Company’s sales prospects and growth.”

About Gatekeeper Systems Inc.

Gatekeeper is a leading provider of intelligent video and data solutions designed to provide a safer transportation environment for children, passengers, and public safety personnel on multiple transportation modes. The Company uses AI, video analytics, thermal cameras, and mobile data collectors to inter-connect public transit assets as part of intelligent transportation systems in a Smart City ecosystem. The Company’s Platform-as-a-Service (PaaS) business model is an enabling transformation to a video and data solutions provider for intelligent transit and Smart Cities. www.gatekeeper-systems.com

Contact Information:

Douglas Dyment

President & CEO

ddyment@gatekeeper-systems.com

(604) 864-6187

 

Cautionary Note Regarding Forward-Looking Statements: Certain statements made in this press release that are not historical facts are forward-looking statements and are subject to important risks, uncertainties and assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements. As a result, we cannot guarantee that any forward-looking statement will materialize, and readers are cautioned not to place undue reliance on these forward-looking statements. For more exhaustive information on these risks and uncertainties, the reader should refer to the risk factors described in the management’s discussion and analysis for the period ended November 30, 2022. The forward-looking statements contained in this press release represent our expectations as of the date hereof. We disclaim any intention and assume no obligation to update or revise any forward-looking statements. Forward-looking statements are presented for the purpose of providing information about management’s current expectations and plans and allowing investors and others to obtain a better understanding of our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. The Company undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur, unless required by applicable law.

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