(TheNewswire)
Abbotsford, BC – TheNewswire - July 7 , 2022 – GatekeeperSystems Inc. (‘Gatekeeper’ or the ‘Company’) (TSXV:GSI)(OTC:GKPRF) (FSE:1GK) a leading provider ofintelligent video solutions for public transport and smart cities, ispleased to announce that its wholly-owned subsidiary, GatekeeperSystems USA Inc., located in Bristol, PA, has received a one-yearcontract extension for approximately US$1.8 million (approximatelyC$2.35 million) to provide annually recurring vehicle video systemmaintenance services for Southeastern Pennsylvania Transit Authority("SEPTA").
In October 2019, the Company announced the award of aninitial three-year contract term beginning November 2019 forapproximately C$7.1 million, plus two one-year extensions options, fora total potential contract value of up to approximately C$11.8 millionover five years. The contract extension announced today represents thefirst of these two one-year extension options.
SEPTA is one of the largest transit systems in theUnited States, serving five counties in the Greater Philadelphia areaand connecting to transit systems in Delaware and New Jersey. Itsservices include regional rail, buses, trolleys, subway and ahigh-speed line to western suburbs.
About Gatekeeper Systems Inc.
Gatekeeper is a leading provider of intelligent videoand data solutions designed to provide a safer transportationenvironment for children, passengers, and public safety personnel onmultiple transportation modes. The Company uses AI, video analytics,thermal cameras, and mobile data collectors to inter-connect publictransit assets as part of intelligent transportation systems in aSmart City ecosystem. The Company’s Platform-as-a-Service (PaaS)business model is an enabling transformation to a video and datasolutions provider for intelligent transit and Smart Cities. www.gatekeeper-systems.com
Contact Information:
Douglas Dyment
ddyment@gatekeeper-systems.com
Cautionary Note Regarding Forward-Looking Statements:Certain statements made in this press release that are not historicalfacts are forward-looking statements and are subject to importantrisks, uncertainties and assumptions, both general and specific, whichgive rise to the possibility that actual results or events coulddiffer materially from our expectations expressed in or implied bysuch forward-looking statements. As a result, we cannot guarantee thatany forward-looking statement will materialize, and readers arecautioned not to place undue reliance on these forward-lookingstatements. For more exhaustive information on these risks anduncertainties, the reader should refer to the risk factors describedin the management's discussion and analysis for the quarter endedFebruary 28, 2022. The forward-looking statements contained in thispress release represent our expectations as of the date hereof. Wedisclaim any intention and assume no obligation to update or reviseany forward-looking statements. Forward-looking statements arepresented for the purpose of providing information about management'scurrent expectations and plans and allowing investors and others toobtain a better understanding of our anticipated operatingenvironment. Readers are cautioned that such information may not beappropriate for other purposes. The Company undertakes no obligationsto update or revise such statements to reflect new circumstances orunanticipated events as they occur, unless required by applicable law.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
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