MANDEVILLE, La., April 9, 2013 /PRNewswire/ -- Syncronys
International (OTC Pink: SNTL)
Syncronys International is pleased to announce that its
subsidiary Seeker Technologies Ltd. (www.Seeker-Tec.com) has
secured its first revenue generating contract with Quest Solutions,
an Angolan based company. Quest which has contracts with
Angolan authorities for the removal of landmines is an established
company in the region having worked in the landmine disposal
business for a number of years.
This initial contract, to locate and remove landmines, covers a
relatively small parcel of land and will generate revenue of
$2 million over the next six to eight
months for Seeker technologies. Seeker will then proceed to tender
for further contracts in the north and west of the country, through
a joint venture, Angolan domiciled company, in which Seeker will
hold an interest.
Quest wish to enter into an extended arrangement with Seeker
that will utilize Seeker sensor technology in Angola, which is one of the most infected
landmine countries in the world. At this time, mine clearance is
being undertaken manually in the traditional way and the Seeker
system will be introduced and employed in suitable areas to reduce
time and maximise profitability of the contracts.
Quest has also committed to a 10% equity stake in Seeker's
parent company Seeker Tec International, Inc. for which the initial
payment tranche has been received.
Members of the Seeker management team are now planning to visit
the area late April, early May. During which time tenders for
larger areas in the south east of the countries will be discussed
with stakeholders including national Government Ministers, regional
administrators, senior US diplomats, NGO's and oil company
executives.
"This is a small but significant start to our business" said the
CEO of Seeker Tec, Mike Kendrick.
"Operating in Africa is not always
easy but there is a vast potential for our products and services on
this continent, with the involvement of international companies
that have significant commercial investments in the region. Whilst
the humanitarian need is well understood", he added, "the need for
large multi-national concerns to capitalize on investments by
releasing land back to productive use is also an economic
imperative".
"Obviously, the team is very excited by finally securing the
first contract," said Mr Kendrick "and to moving the business
forward while providing help too much needed countries. We
are already negotiating for further four or five contracts, which
have the potential to add significant revenue and profit for Seeker
technologies."
Seeker Technologies is also working to add further new sensor
packages to its suite of products, opening markets that would not
require high cost ground penetrating radar. These include projects
such as plant and animal surveys and high definition mapping for
use in land remediation and management. This will offer a variety
of industries a lower cost and high definition option in
established markets, around the world, including the USA.
Safe Harbor Statement
This release contains forward-looking statements that relate to
future events or performance. These statements reflect the
company's current expectations and are made pursuant to the Safe
Harbor Provisions of the Private Securities Litigation Reform Act
of 1995. The company does not undertake to update or revise these
forward-looking statements, even if experience or future changes
make it clear that any projected results expressed or implied in
this or other company statements will not be realized. Furthermore,
readers are cautioned that these statements involve risks and
uncertainties, many of which are beyond the company's control,
which could cause actual results to differ materially from the
forward-looking statements. Factors that could cause these
differences include, but are not limited to, the acceptance of our
products, lack of revenue growth, failure to realize profitability,
inability to raise capital and market conditions that negatively
affect the market price of our common stock. The Company disclaims
any responsibility to update any forward-looking statements.
SOURCE Syncronys International, Inc.