VANCOUVER, April 4, 2012 /CNW/ - Deploy Technologies Inc. (CNSX: DEP) (PINKSHEETS: DPLY) (the "Company") is pleased to announce that on April 3, 2012, the Company received a $4,000,000 equity authorization for the 2012 tax year from the Investment Capital Branch of British Columbia under the eligible business corporation ("EBC") program. This authorization permits the Company, as an EBC, to raise up to that amount under the program and obtain tax credit certificates for eligible investors equal to 30% of their investment amount. Every Canadian resident who receives taxable income qualifies as an eligible investor.
"The receipt of this authorization is important because it provides a clear incentive to invest in Deploy," stated David Eppert, the Company's Chief Executive Officer. "We are currently in the process of raising capital to fund our operations, and we expect that the investing public will welcome the opportunity to receive a significant tax credit by participating in this round of financing or any others that we may announce over the next 12 months."
ABOUT DEPLOY TECHNOLOGIES INC.
Deploy Technologies Inc. has developed a comprehensive suite of products focused on fleet data management & weigh systems solutions. The core of the Company's technology is based on the monitoring, storage and processing of hydraulic pressures data streams which are then used to address a wide range of applications including weight and loading calculations and warning systems for safety assurance initiatives.
FORWARD LOOKING STATEMENTS
The statements contained above which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those currently anticipated, including but not limited to risks associated with the industrial transportation industry in general, certain delays beyond the Company's control with respect to market acceptance of new technologies or products, changes in plans with respect to the testing and evaluation of products, and other risks.
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