CSI Wireless Shareholders Approve Name Change to "Hemisphere GPS" |
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CSI Wireless Inc.
4110 9th Street S.E.
Calgary, T2G 3C4
Canada
Press release date: May 11, 2007
Calgary, Alberta - May 11, 2007 - (TSX:HEM): CSI Wireless Inc. officially changed its name to "Hemisphere GPS Inc." at its annual general meeting held in Calgary on May 9. Company shareholders voted to accept the name change in support of the Company's renewed focus on the strengths of its GPS business. In conjunction with the name change, the Company's corporate website and email domain name has been changed to www.hemispheregps.com. Hemisphere's CUSIP number is 423 633 106.
In addition, Hemisphere GPS stock is now trading under the new ticker symbol "HEM" on the Toronto Stock Exchange within the next week, subject to final TSX approval. An announcement will precede commencement of trading under the new symbol.
The name change communicates the reemergence of a pure-play GPS company following the discontinuance of the Company's wireless businesses in 2006. Hemisphere GPS is serving the growing demand for accuracy and machine control applications and owns various product brands including Crescent GPS and Outback Guidance. Record GPS sales were reported for the first quarter of 2007, partly driven by Hemisphere GPS's reputation for high quality, high value products and performance.
"The decision to focus exclusively on GPS was made based on the strengths of our GPS technology and products, and our market share leadership and sound industry reputation in our key markets of Ground Agriculture, Air, and Marine," stated Steve Koles, President & CEO of Hemisphere GPS. "We are already leveraging these strengths as the long term forecasts for these industries are very positive. We are diligently preparing for the anticipated demand."
About Hemisphere GPS Hemisphere GPS designs and manufactures innovative, cost-effective GPS products for positioning, guidance and machine control applications in agriculture, marine and other markets. The Company owns leading brand names, numerous patents and other intellectual property. The Company's head office is in Calgary, Alberta, and it has major product development and sales and marketing facilities in Arizona, Kansas and Texas. For more information about Hemisphere GPS, go to www.hemispheregps.com.
For more information, please contact: Cory Pala Investor Relations E.vestor Communications Inc. 416-657-2400 CPala@evestor.com
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