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GOVERNMENT OF CANADA RECOGNIZES PARADIGMS WIRELESS LEADERSHIP WITH NRC/IRAP GRANT FOR WIRELESS LOCATION TECHNOLOGY RESEARCH AND DEVELOPMENT
Contacts:
Stanley Wunderlich
Consulting For Strategic Growth, Ltd.
Public Relations
Corporate Development Consultants
Tel: 800-625-2236
Fax: 516-625-4523
Email: cfsg@iname.com
Selwyn Wener
Chief Financial Officer
Paradigm Advanced Technologies, Inc.
Tel: 905-707-2158
Fax: 905-707-7106
Email: swener@powerloc.com
Web site: www.powerloc.com
Toronto, Ontario -- September 15, 2000 -- Paradigm Advanced Technologies, Inc. (NASDAQ: OTCBB: PRAV) today announced that its subsidiary PowerLOC has received a grant of CDN$495,000 from the National Research Assistance Program (IRAP) to fund its ongoing research and development activities in wireless communications and location technologies.
The project relates to ongoing research and development by Paradigms PowerLOC subsidiary to develop advanced GPS locating devices that will communicate through an existing wireless communication network infrastructure, such as cellular or P.C.S., and transmit the GPS data through a server and Internet to a host computer technology. The NRC grant to PowerLoc is being made under the IRAP Technology Partnerships Canada (TPC) Precommercialization Assistance initiative.
Paradigm was selected from among a number of companies after a thorough technology evaluation by NRC/IRAP, as well as by independent consultants hired by the government of Canada to evaluate the company," said Eduardo Guendelman, President and CEO of Paradigm Advanced Technologies. The NRC decision to grant this project to the company is further proof of Paradigms leadership in the area of wireless communications and location technology, and we look forward to continuing to work with NRC in joint developments in the future to further enhance technologies in Canada."
The grant is a continuation of an ongoing relationship with the National Research Council by Power Point Micro Systems, a Paradigm subsidiary acquired as part of Paradigms acquisition of PowerLOC on March 28, 2000. Before being acquired by Paradigm, Power Point had applied for and secured its first research and development grant from IRAP. As a result of the success of this first project, Power Point applied for and obtained a second grant. Both of these research and development projects were related to ongoing development of a proprietary GPS wireless appliance and a complete system solution.
After acquiring Power Point, PowerLOC applied for and obtained two additional grants from the NRC/IRAP. The first research and development project, related to wireless network technologies, was successfully completed as of June, 2000. A second research and development project is now underway.
About Paradigm Advanced Technologies, Inc.
Headquartered in Toronto, Paradigm Advanced Technologies, Inc. (www.powerloc.com) is a world-leader in wireless location-based electronic commerce (L-Commerce). 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. Paradigms ownership covers all fields of use for the patented system, excluding criminal justice applications.
For additional information, please call CFSG at 800-625-2236. Visit Paradigms web site at www.powerloc.com that showcases some of its advanced new wireless location technologies and products.
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This press release contains forward-looking statements that, if not verifiable historical fact, may be viewed as forward-looking statements that could predict future events or outcomes with respect to Paradigm Advanced Technologies Inc., and its business. The predictions embodied in these statements will involve risks and uncertainties and accordingly, Paradigms actual results may differ significantly from the results discussed or implied in such forward-looking statements.
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