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January 2001
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Paradigm Advanced Technologies on the move.
TORONTO---Jan. 23 2001--New and larger premises houses state of art Location Tracker Server
and enables Company to accelerate its growth and acquisition plans
Paradigm Advanced Technologies, Inc. of Toronto announced today that it has moved to a larger facility in Richmond Hill. The new head-office will host Paradigm and PowerLOC's (Paradigm's wholly owned wireless-location division) operations including its research and development, sales and marketing, administrative, technical support and manufacturing staff and will allow the companies to expand their operations.
At the new facility, the Company has built an LSP room hosting a large and powerful Tracker, which is already operational and is capable of tracking a large number of vehicles, people or assets in multiple geographic areas including multiple continents.
Paradigm/PowerLOC's new premises are located at 30 Leek Crescent, Richmond Hill, Ontario, Canada L4B 4N4. As a result of the move, the telephone numbers changed. The Company's new phone number is 905/764-3701, while the new fax numbers are 905/764-3680 and 416/418-5078.
"We are very excited about our move to larger premises which is situated in a brand new building, at the center of a mostly high-tech area of Greater Toronto," said Paradigm's President/CEO Eduardo Guendelman. "For the past few months we were forced to operate out of different facilities, because we quickly outgrew our original premises. This move allows us to accelerate our development efforts and expansion plans and to serve our customers better. The new demonstration room built at our new premises room will allow us to showcase our groundbreaking technologies."
On January 16, 2001, Paradigm announced that that it has executed a term sheet with NaftEL Technologies, Ltd. of Israel (www.nafteltech.com) to acquire all of NaftEL's navigation technology and intellectual property. NaftEL develops and markets navigation system software, enabling detailed street maps to be viewed on devices with limited on-board memory. This advanced technology also provides graphic or voice commands on portable computers, hand held devices and cellular phones to enable dynamic navigation for persons and vehicles.
About Paradigm Advanced Technologies, Inc.
Headquartered in
Toronto, Paradigm Advanced Technologies, Inc. (www.powerloc.com)
provides wireless location-based electronic commerce (L-Commerce)
solutions. Paradigm owns the exclusive licensing rights to a
broad-based wireless location patent (US Patent #B1 5,043,736)
covering the apparatus and method of transmitting position
information from satellite navigational signals (like GPS) over
cellular systems to a base unit, and displaying the location of a
person or object so equipped. Paradigm's ownership covers all fields
of use for the patented system, excluding criminal justice
applications. Paradigm wholly owns PowerLOC Technologies Inc. and
Power Point Micro Systems Corporation. PowerLOC anticipates
providing a comprehensive range of L-Commerce and L-Business
products and services including a family of proprietary
wireless-location devices for this emerging industry and for
location-based service providers (LSPs) in particular. www.powerloc.com
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