XCT Cell-Loc Location Technologies Inc.

Cell-Loc Location Technologies Inc. (TSX VENTURE:XCT) ("Cell-Loc") is pleased to
announce a restructuring of its note receivable from Bravia Capital ("Bravia").
Pursuant to the terms of the agreement announced May 5, 2010, Cell-Loc has
received to date four monthly payments of 100,000 Brazilian reais ("BR$")
(approximately $59,000 Cdn.) The remaining note receivable of BR$1,200,000 was
due February 2011 upon commercialization of Cell-Loc's Beacon 7 development.
Cell-Loc and Bravia have agreed to restructure the payment requirement to
provide Cell-Loc with monthly payments of BR$100,000 commencing September 1,
2010.


"The restructuring of the note provides Cell-Loc with a stable stream of funding
which will allow the Company to execute its business plan." said Keith Bohn,
Interim CEO, "Bravia has shown their confidence in the progress that we have
made in the ongoing development of our Beacon 7 product through the previously
announced professional services agreement. This confidence is further evidenced
by their willingness to expedite the payments due under the note."


Beacon 7 is expected to significantly improve theft recovery by offering
built-in intelligence to automatically alert the monitoring company when a theft
is initiated. The Company is projecting that the design of the Beacon 7 will be
completed by the end of Q3, 2010.


SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS:

Certain statements contained in this news release constitute forward-looking
statements, including, without limitation, the terms and obligations of the
transactions constituting the Reorganization, including the New Note, the
License Agreement and the Private Placement. By their nature, forward-looking
statements are subject to numerous risks and uncertainties, some of which are
beyond Cell-Loc's control including the impact of general economic conditions,
industry conditions, currency fluctuations, competition from other industry
participants, the lack of availability of qualified personnel or management,
stock market volatility and ability to access sufficient capital from internal
and external sources, the inability to obtain required consents, permits or
approvals, including regulatory approvals, failure to realize the anticipated
benefits of the Reorganization, counter-party risks and the risk that actual
results of the Reorganization will vary from the results forecasted and such
variations may be material. Readers are cautioned that the assumptions used in
the preparation of such information, although considered reasonable at the time
of preparation may prove to be imprecise and, as such, undue reliance should not
be placed on forward-looking statements. Cell-Loc's actual results, performance
or achievement could differ materially from those expressed in or implied by,
these forward-looking statements and, accordingly, no assurance can be given
that any of the events anticipated by the forward-looking statements will
transpire or occur, or if any of them do so, what benefits Cell-Loc will derive
therefrom. 


The forward-looking statements contained in this news release are made as of the
date of this news release. Except as required by law, Cell-Loc disclaims any
intention and assumes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise,
except as required by applicable securities laws.

Cell-Loc Location Technologies Inc. (TSXV:XCT)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Cell-Loc Location Technologies Inc. (TSXV:XCT)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024