Lorex Technology (TSXV:LOX)
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Strong Revenue Growth and Continued Profitability Positions Lorex to Drive Shareholder Value
TORONTO, Dec. 2, 2011 /CNW/ - LOREX Technology Inc. ("Lorex" or the "Company") announced today that as a result of strong revenue growth and consistent profitable financial reporting over the last ten quarters, the Company has taken additional steps to enhance its corporate image and public company brand within the investment community.
To assist Lorex to achieve greater visibility with investors, the Company has retained the services of Toronto based Bristol Capital Ltd. Providing comprehensive investor relations and strategic financial communication services, Bristol specializes in assisting micro-cap and small cap public companies expand their corporate awareness amongst professional investors throughout Canada, the United States and Europe.
"We believe the time has come for Lorex to become more proactive in communicating our strong revenue growth and profitability to the investment community," stated Reuben Klein, CEO of Lorex Technology. "Our recent graduated listing to the TSX Venture Exchange combined with Bristol's ability to relay our strong performance to professional investors from both the buy and sell-side community should lead to an increase in investor awareness for our Company and enhance our ability to build long term value for our shareholders."
Under the terms of the agreement with Bristol, Lorex will pay a monthly retainer fee of $6,000 for select investor relations and strategic communications services. The initial contract term is 12 months and commences immediately.
Neither Bristol Capital nor any of its principals have an ownership interest, directly or indirectly, in Lorex Technology or its securities, and Lorex Technology has not granted Bristol Capital or its principals any right to acquire any such interests.
About LOREX Technology Inc.: LOREX provides businesses and consumers with leading edge video surveillance security solutions and sells its products under the LOREX and Digimerge brands. The LOREX brand, which caters to both small business and consumer markets, is available in thousands of retail locations across North America and in the UK. The Digimerge division distributes its products through major distributors in North America. Both brands concentrate on the sale of wired, wireless and IP security surveillance equipment including cameras, digital video recorders and all-in-one systems. LOREX subsidiaries include; LOREX Canada Inc., LOREX Corporation and Strategic Vista Corporation Limited, Hong Kong.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.
LOREX Technology Inc.
CONTACT: Reuben KleinPresident & CEOLOREX Technology Inc. Phone: (905) 946-8589 extension 120reuben.klein@lorexcorp.comwww.lorextechnology.com