Gatekeeper Completes First Part of $9 Million Transit Video and Data Contract

Rhea-AI Summary

Gatekeeper Systems Inc. announces completion of $2.51 million contract for video and wireless data technology for transit buses and trains, with a total contract value of $6.7 million. The remaining portion of the contract is expected to be completed by February 29, 2024.

Abbotsford, British Columbia--(Newsfile Corp. - November 1, 2023) - Gatekeeper Systems Inc. (TSXV: GSI) (OTC Pink: GKPRF) ('Gatekeeper' or the 'Company'), a video and data solutions provider for public transportation and smart cities, is pleased to announce that its wholly-owned subsidiary, Gatekeeper Systems USA Inc., has completed approximately US $2.51 million (approximately CA $3.47 million) of a previously announced contract for approximately US $6.7 million (approximately CA $9 million) to provide video and wireless data technology for transit buses and trains. The Company expects the remainder of this contract to be completed prior to the end of its second fiscal quarter ending February 29, 2024.

About Gatekeeper Systems Inc.

Gatekeeper is a leading provider of intelligent video and data solutions designed to provide a safer transportation environment for children, passengers, and public safety personnel on multiple transportation modes. The Company uses AI, video analytics, and Mobile Data Collectors to inter-connect public transportation assets within a Smart City ecosystem. The Company's Platform-as-a-Service (PaaS) business model is centered around wirelessly enabled Mobile Data Collectors which forms the foundation of the Company's data company evolution. www.gatekeeper-systems.com

Contact Information:
Douglas Dyment
President & CEO
ddyment@gatekeeper-systems.com
(604) 864-6187

Cautionary Note Regarding Forward-Looking Statements: Certain statements made in this press release that are not historical facts are forward-looking statements and are subject to important risks, uncertainties and assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements. As a result, we cannot guarantee that any forward-looking statement will materialize, and readers are cautioned not to place undue reliance on these forward-looking statements. For more exhaustive information on these risks and uncertainties, the reader should refer to the risk factors described in the management's discussion and analysis for the period ended May 31, 2023. The forward-looking statements contained in this press release represent our expectations as of the date hereof. We disclaim any intention and assume no obligation to update or revise any forward-looking statements. Forward-looking statements are presented for the purpose of providing information about management's current expectations and plans and allowing investors and others to obtain a better understanding of our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. The Company undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur, unless required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/185861

FAQ

What is the name of the company that made the announcement?

The company is Gatekeeper Systems Inc.

What is the contract value for the video and wireless data technology?

The contract value is $6.7 million.

When is the expected completion date for the remaining portion of the contract?

The remaining portion of the contract is expected to be completed by February 29, 2024.