VANCOUVER, March 9, 2015 /CNW/ - JEMTEC Inc. (TSX-V: JTC) ("JEMTEC" or the "Company") announces that, pursuant to Solicitation 21120-158248/A, Public Works and Government Services Canada, Jemtec's solution has been evaluated as the winning proposal to provide Correctional Services of Canada ("CSC") Electronic Monitoring services throughout Canada effective immediately for its proposed Electronic Monitoring Research Pilot.
The contract is for an initial three year period with two additional 1 year options selectable by CSC. The value of the contract based on the estimated CSC budget for the initial 3-year period and shown in the Government of Canada Tender award is $3,015,882.99. Jemtec cautions this is a CSC budget value and the contract terms allow for staggered growth to meet CSC needs throughout the term and as such the full budget may not be reached during the 3 year period.
Eric Caton, President and CEO said "we are pleased to be chosen to provide this intensive supervision service to CSC. Further Jemtec has provided a full spectrum of monitoring technologies and services to provincial and federal correctional and border services across Canada since 1987 and in doing so has built a reputation for offering the best technological solutions and support for use in this very demanding environment."
Established in 1981, JEMTEC holds rights for a variety of electronic monitoring technologies including reporting systems, voice verification, alcohol monitoring, radio-frequency and GPS tracking systems. The common shares of JEMTEC trade through the facilities of the TSX-Venture Exchange under the symbol JTC. For additional information, please visit www.jemtec.ca
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.
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.
SOURCE Jemtec Inc.
For further information: Eric Caton, President, Phone (877) 929-4559, Fax (877) 929-4198, www.jemtec.ca