EDMONTON, May 20 /CNW/ - S. Jorstad, President, CEO of UNITED PROTECTION SECURITY GROUP INC. ('UPSG') , a Canadian-based company trading on the TSX Venture Exchange under the symbol (TSX-V: UZZ) is pleased to announce that its wholly owned subsidiary United Protection Services Inc. (United) has signed a National Strategic Business Development Alliance with NGNT Holdings Inc. ('NGNT').
NGNT is a British Columbia based corporation focused on mobile parking services products, proprietary optical license plate recognition, patented vehicle immobilization system and mobile meter management, all designed for control of revenue and unauthorized parking related to municipal and the private parking industry.
The synergies with United's Mobile Patrol and video based monitoring systems provides an ideal complement to maximize utilization of the mobile patrol fleet on a 24 hour basis, while complementing NGNT's objective of developing a national owner operated network through an established private security provider.
The patented Nogo Notow vehicle lock-down system temporarily disables an illegally parked vehicle. Violators are identified by matching data from a client's central data bank with the license plate numbers scanned by high speed electronic optical scanning. Vehicles are "unlocked" upon the payment of any outstanding fines and an unlocking fee.
United views the addition of this innovative unique service, and the additional revenue stream to its Mobile Patrol Division as an ideal fit to maximize margins and revenues 24 hours a day, as well as to provide the basis for expansion of its mobile based services to clients and cities not currently serviced by United.
This also is a revenue generator for private clients with outstanding parking lot debt, as well as for cities and municipalities with metered parking and timed parking lots, which nationwide account for millions of dollars in unpaid fines.
Mr. Dan Mechalchuk, President of NGNT states that the alliance with United is a perfect fit for the nation wide expansion of the NoGo NoTow parking lot management system. Based on a revenue sharing formula, backed by the expertise and support of NGNT and the western based fleet of experienced mobile patrol operators of United, it provides for immediate implementation in those cities currently serviced by United across western Canada and for aggressive joint expansion to those areas not using the system or United's services.
The national rights contained in the exclusive agreement were acquired by United for the sum of $150,000.00 payable by way of cash and 600,000 common shares of the United Protection Security Group Inc. (UPSG), at a strike price of 10 cents per share subject to the approval of the TSX Venture Exchange.
About United Protection Security Group Inc.
United Protection Security Group Inc. is an established security protection company; focused on high impact, high visibility, and high risk security situations, coupled with one of the broadest ranges of traditional private security services in the industry.
Delivering 21st Century Solutions to centuries old problems through a network of 'Elite Private Protection Professionals'.
Pro-Active and Progressive Management has moved the company into the ranks of, one of, the most dynamic security companies in Western Canada. With a strong foundation and a dedicated professional management team, we are moving forward into the next level in our development strategy.
United Protection Security Group Inc. is committed to providing its clients with a "superior quality service" at a competitive price. It is further committed to providing its employees and associates with the assistance, support, and opportunity to maximize their individual potential for excellence, peak performance and personal growth. It is the Company's policy and highest priority to protect the health and welfare of all its clients and employees and their respective property.
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Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks related to business development and retention, and risks related to the current economic and credit conditions. As a result, actual results may vary materially from those described in the forward-looking statements.
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
SOURCE United Protection Security Group Inc.
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