SpatialNews Press Release
L3 Technology, an Integrator of GPS, Wireless
and Internet Technologies, Announces a $500,000 Private Placement
VANCOUVER, British Columbia, Oct. 23, 2000--Naiel P. Kanno, President
and CEO of L3 Technology, Inc., is pleased to announce that the company has secured a private
placement of $500,000.
The proceeds from the private placement will be used to further develop and expand the marketing of
the company's location enabling technology platform, to expand our partner alliances program, and for
general working capital.
About L3 Technology, Inc.
Based in Vancouver, British Columbia, L3 Technology designs, develops, and markets
next-generation location-based solutions. The company's flagship suite of products, iMatix(TM), provides
a flexible building-block technology framework for developing location-based applications. Integrating
Global Positioning System technology, wireless communications, and the Internet, the scalable iMatix
location enabling technology platform provides application developers and systems integrators with an
environment for rapid development of location-smart applications. Using Application Program Interfaces,
the iMatix platform also enables existing applications to add support for location-based features. The
company licenses its products worldwide through direct and indirect sales channels.
CONTACT:
For L3 Technology, Inc.
Naiel P. Kanno, 604/214-7085
nkanno@L3technology.com
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