Hemisphere GPS Announces Closing of $17.5M Bought Deal Financing



    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES/

    CALGARY, Dec. 27 /CNW/ - (TSX: HEM) Hemisphere GPS Inc., a leading
designer and manufacturer of advanced GPS products is pleased to announce that
it closed the previously announced bought-deal private placement of
5,555,600 special warrants ("Special Warrants") issued at a price of $3.15 per
Special Warrant for total gross proceeds of $17,500,140. Canaccord Adams led
the underwriting syndicate, which also included Wellington West Capital
Markets Inc., Haywood Securities Inc., Paradigm Capital Inc., PI Financial
Corp. and Research Capital Corporation.
    Each Special Warrant will be automatically exercised for common shares on
the earlier of: (i) the business day after the date on which a receipt has
been issued by applicable Canadian securities regulatory authorities for a
final prospectus qualifying the distribution of the common shares issuable
upon exercise of the Special Warrants (the "Qualification Date"); and (ii)
120 days following the closing date. Proceeds from the private placement will
be used in part to pay down bank facilities utilized to fund a portion of the
cash proceeds for the recent acquisition by Hemisphere GPS of the securities
of BEELINE Technologies Pty Ltd. The balance of the proceeds will be used for
general corporate purposes.

    The Toronto Stock Exchange has neither approved nor disapproved the
    contents of this press release.

    This news release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities in any jurisdiction. The
Special Warrants have not been and will not be registered under the United
States Securities Act of 1933 and may not be offered or sold in the United
States absent registration or an applicable exemption from the registration
requirement.

    About Hemisphere GPS

    Hemisphere GPS designs and manufactures innovative, cost-effective GPS
products for positioning, guidance, and machine control applications in
agriculture, marine and other markets. The Company holds numerous patents and
other intellectual property and owns leading brand names, including Outback
Guidance(R) and BEELINE(R), two of the leading brands in precision GPS for
ground agriculture. The Company is headquartered in Calgary, Alberta, with
major product development, sales, and marketing facilities in Arizona, Kansas,
Texas, and Brisbane. For more information about Hemisphere GPS, please go to
www.hemispheregps.com.

    The above disclosure contains certain forward-looking statements that
involve substantial known and unknown risks and uncertainties. These
forward-looking statements are subject to numerous risks and uncertainties,
certain of which are beyond Hemisphere GPS' control, including: the impact of
general economic conditions, industry conditions, increased competition, the
lack of availability of qualified personnel or management, fluctuations in
foreign exchange or interest rates, stock market volatility and market
valuations of companies with respect to the announced transactions and the
final valuations thereof, and obtaining required approvals of regulatory
authorities. Hemisphere GPS' actual results, performance or achievement could
differ materially from those expressed in, or implied by these forward-looking
statements and, accordingly, no assurances can be given that any of the events
anticipated by the forward-looking statements will transpire or occur, or if
any of them do so, what benefits, including the amount of proceed, that
Hemisphere GPS will derive there from.





For further information:

For further information: Steven Koles, President and Chief Executive
Officer, Hemisphere GPS, (403) 259-3311, Skoles@HemisphereGPS.com; Cameron
Olson, Chief Financial Officer, Hemisphere GPS, (403) 259-3311,
COlson@HemisphereGPS.com; Cory Pala, Investor Relations, E.vestor
Communications Inc., Phone: (416) 657-2400, E-mail: CPala@evestor.com

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