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CLTI also announced that it has sold a license for the Greater Vancouver territory to LSSI for $500,000, with payment due after CLTI successfully completes its network currently under construction in Sao Paulo, Brazil. President and CEO of citytrac, (a former employee of CLTI and prior to that a Canadian sales manager for Motorola), acquired the license for the Company's Beacon technology for the province of Saskatchewan along with an option to acquire the rights to the province of Manitoba. CLTI will, through a holding company, own 74% of X3, the Brazilian operating company that will deploy the network. |
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