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Share Name | Share Symbol | Market | Type |
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Young-Davidson Mines Ltd | TSXV:ODM | TSX Venture | Common Stock |
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Cantronic Systems Inc., ("Cantronic" or the "Company") (TSX VENTURE:CTS)(PINK SHEETS:CRIXF) announced today that it has entered into an arrangement as an Original Design Manufacturer ("ODM") with Digital China Holdings Limited of Beijing ("Digital China") to design and manufacture a customized version of Cantronic's most popular digital IP (Internet Protocol) video camera under Digital China's AMPON brand of security products. The product has already been successfully introduced to market, with sales volume expected to reach RMB 12 million (about Canadian $1.8 million) by the end of calendar 2011. Digital China is a leading IT integrator and distributor with regional centres in 19 major cities in China, a network of over 10,000 re-sellers and agents across the country and revenue of approximately Canadian $3.5 billion in its most recent fiscal year (Hong Kong $27,560 million). "We look forward to growing our IP video camera business with Digital China, as IP cameras are replacing analog video cameras in the multi-billion dollar China video security and surveillance market," commented James Zahn, President and CEO of Cantronic Systems Inc. About Cantronic Systems Inc. Cantronic Systems Inc. manufactures, distributes, and provides training and services in the fields of IP-based networked video security surveillance technologies, specializing in networked video management software and video analytics, IP cameras, speed dome cameras, high definition video surveillance cameras and night vision surveillance systems for demanding security and surveillance applications. Cantronic, through its China subsidiaries Cantronic Security Systems (China) Co. Ltd., Beijing Advanced Videoinfo Technology Co. Ltd. ("AVINFO"), Shenzhen Huanghe Digital Technology Co. Ltd. ("Yellow River") and Actiontop Electronics (Shenzhen) Co. Ltd. ("Actiontop") provides high-speed and digital networked video surveillance solutions to government and corporate customers in China. Cantronic is a Tier 1 issuer on the TSX-V Exchange, trading under the symbol CTS. For further information about Cantronic and Cantronic China, please visit our websites at www.cantronicsecurity.com and www.cantronics.com.cn. Forward-looking statements This news release contains forward-looking statements, within the meaning of applicable securities legislation, concerning Cantronic Systems Inc. and the markets in which it operates. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Cantronic to be materially different from any future results, performance or achievements expressed or implied by said forward-looking statements. Forward-looking statements include, but are not limited to: the completion of the Proposed Transaction, anticipated share capital following completion of the Proposed Transaction, expectations, opinions, forecasts, projections and other similar statements concerning anticipated future events, conditions or results that are not historical facts. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking information is provided as of the date of this news release, and Cantronic Systems Inc. assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities laws.
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