OSI Geospatial Inc.'s plan of arrangement becomes effective

    




 VANCOUVER, July 13, 2012 /CNW/ - OSI Geospatial Inc. ("OSI" or the  "Company") is pleased to announce that the Company's previously  announced going private transaction (the "Transaction") carried out by  way of a plan of arrangement under the Business Corporations Act (British Columbia) (the "Transaction") became effective today. 

 The Transaction provides, among other things, that (i) each Class "B"  Series 2 Preference Share (a "Preferred Share") held by a preferred  shareholder be converted into common shares of the Company (the "Common  Shares") at a conversion rate of 156.667 Common Shares per Preferred  Share, which is equivalent to a value of $9.40 per Preferred Share, and  (ii), all of the issued and outstanding Common Shares be consolidated  on a 250,000 to 1 basis and common shareholders holding less than one  post-consolidation Common Share be paid $0.060 in cash, representing a  33% premium to the pre-consolidation market price for the Common  Shares, per pre-consolidation Common Share held by them. 

 The Common Shares of OSI were delisted from the TSX Venture Exchange on  July 12, 2012. The Company is in the process of applying to the  relevant securities commissions to cease to be a reporting issuer and  expects to close the Transaction in late July 2012. 

 Further details regarding the Transaction are set out in the management  information circular dated May 16, 2012, which is available under the  Company's profile on SEDAR. 

 About OSI Geospatial Inc. 

 OSI Geospatial Inc. operates two distinct business units: Offshore  Systems Ltd. (based in Vancouver, British Columbia), a world-leading  naval fleet supplier of integrated navigation and tactical solutions;  and CHI Systems, Inc. (based in Philadelphia, Pennsylvania), a  leading-edge research, development, and systems integration supplier of  technology solutions for defense, aerospace, health, and bioscience  markets. OSI Geospatial systems and software are in use by military,  government, and commercial customers around the world. The Company is  publicly traded on the TSX Venture Exchange. For additional information please visit www.osigeospatial.com.  

OSI Geospatial Inc.


CONTACT:  Jim GirardChief Financial Officer and Secretary+1 778-373-4600 [phone]+1 778-373-0027 (FAX)[e-mail] 


    

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