(TheNewswire)
Abbotsford, BC / TheNewswire / April 9
th , 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,
“Douglas Dyment”
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 of securities 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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