Toronto Stock Exchange Symbol: AIQ
TORONTO, June 14 /CNW/ - Atlantis Systems Corp. (TSX:AIQ) ("Atlantis"),
today announced that its Orlando, Florida-based wholly-owned subsidiary,
Atlantis Systems America, Inc. (ASA) has been granted prime contractor status
under the Seaport-e Indefinite-Delivery/Indefinite-Quantity (ID/IQ)
procurement program for the U.S. Navy and Marine Corps. This is the first time
Atlantis has achieved status as a prime contractor on a U.S. military ID/IQ
and builds upon its subcontractor status on two other ID/IQ contracts that the
Company announced on April 10, 2007.
Prime contract status qualifies ASA to bid on projects in twenty-two
functional areas and in seven geographic zones. The contract has a term of
approximately five years. The government estimates a maximum of
US $5.3 billion of services will be procured per year via orders issued under
the Seaport-e multiple award contracts.
"In 2006 we developed the ASA infrastructure to tackle the U.S. military
market. Early in April, we announced that ASA had qualified as a U.S. defense
contractor, a major strategic milestone that gave us direct access to the U.S.
military with a national defense budget of over US $500 billion. Later that
month we announced our first U.S. defense contract of US $2.7 million.
Achieving Seaport-e ID/IQ prime contract status is another milestone for ASA
and a significant step in the evolution of our U.S. military strategy," said
Andrew Day, President and CEO of Atlantis Systems Corp.
About Atlantis Systems Corp.
Located near Toronto, Ontario and Orlando, Florida, Atlantis combines
desktop and full-flight simulation, knowledge management, learning management
systems, flight training devices and multimedia courseware to provide
integrated flight training and aircraft maintenance training to a global list
of customers. For over twenty-eight years, Atlantis has drawn on its extensive
engineering background and proprietary technology to offer cost-efficient,
state of the art alternatives to real-life conditions and situations. ASI is
registered under a number of quality management programs including ISO
9001:2000, AS9100:2004, CSA-Z299.1-1985, Boeing BQMS D6-82479 and Rockwell
Collins RC-9000, among others. To learn more, please visit the company's web
site at www.atlantissi.com.
Certain statements in this release, including but not limited to those
regarding the award of contracts under ID/IQ contracts to ASA are considered
"forward-looking." These forward-looking statements are based on current
expectations and various estimates, factors and assumptions and involve known
and unknown risks, uncertainties and other factors. The material factors and
assumptions that were applied in making the forward-looking statements in this
release include but are not limited to assumptions regarding: current
regulations and requirements promulgated by American and Canadian governmental
agencies and the level of procurement activity under the Seaport-e ID/IQ
program. Material factors that could cause Atlantis' actual results to differ
materially from the forward-looking statements in this release include risks
and uncertainties relating to: future changes in procurement activity by the
U.S. Military; the performance of the Company's U.S. subsidiary; and
relationships with existing U.S. prime and subcontractors. Atlantis cannot
provide any assurance that the predictions of forward-looking statements will
materialize. Atlantis assumes no obligation to update or revise any
forward-looking statement, whether as a result of new information, future
events or any other reason. Additional information regarding risks and
uncertainties that could affect Atlantis' business is contained in the
Business Risk Factors section of Atlantis's Annual MD&A and the Description of
the Business - Risk Factors section in Atlantis' Annual Information Form, both
of which are available on SEDAR at www.sedar.com.
For further information:
For further information: Douglas Donderi, Corporate Secretary and
Vice-President, Corporate Development, Atlantis Systems Corp., (905) 759-1046,
firstname.lastname@example.org; Kevin O'Connor, Genoa Management, (416) 962-3300,