FOR IMMEDIATE RELEASE:
4538 S. 140th St.
Omaha, NE 68137
(402) 614-0258 phone
www.gabrieltechnologies.com
Gabriel Technologies Signs Letter Of Intent To Acquire Digital Defense Group
Company’s Biometric Security Pilot Projects Forecast $15M in 2006
Omaha, Neb., December 21, 2005 - Gabriel Technologies Corp. (OTC Bulletin Board: GWLK), a homeland security company providing physical locking systems and GPS tracking services, announced today that it has signed a letter of intent to acquire majority interest in Resilent LLC, of Omaha Neb., currently doing business as Digital Defense Group. The agreement is subject to a number of contingencies and due diligence.
The company expects to close the transaction in January. Gabriel will acquire 50.1% ownership of Resilent LLC in exchange for $2 million in cash and 2 million shares of Gabriel common stock.
“Digital Defense Group’s biometric technology knocks down some of the larger barriers to the adoption of biometrics in securing facilities and information,” said Gabriel CEO Keith Feilmeier. “They’ve figured out how to enhance security while protecting privacy – to manage identity at the user level. That’s a unique value proposition that matters to security customers.”
Digital Defense Group CEO Steve Campisi said, “This merger unites three innovative companies that offer products that solve security issues. We are going to combine our technologies to create new products which will address security issues that the industry is demanding to be solved. Together, with Digital Defense Group’s biometric card technology, Trace Technologies with their inventive GPS tracking technology and Gabriel Technologies’ War-Lock series of locks will create new products to meet market demands.”
Digital Defense Group is a leading provider of wireless biometric security products. The company provides affordable biometric security access solutions based on patent-pending technology. Factor4™ and IronGate™ on-card self-enrolling™ biocards are wireless and are completely self-contained in a credit card size form factor – an industry first. Its on-card power source is charged wirelessly. Both biocards feature a unique self-enrollment process enabling the user’s unique biometric signature to be stored directly on the biocard itself, eliminating the need for a centralized database or extra external hardware or software during enrollment and authentication, and simplifying identity management. Authentication is achieved through an on-card 1:1 authenticator. Factor4 biocard is engineered for logical and physical access. IronGate biocard offers the same benefits as Factor4 biocard, but features proprietary technology that boosts its transmission up to 10 meters. Both biocards have an optional 1GB on-card memory upgrade and process at 400MHz. “It’s basically a 386 computer you can hold in your hand,” said Campisi. To discover more about Factor4 and IronGate biocards, visit www.myDigitalDefense.com.
Digital Defense has initiated several Factor4 biocard pilot programs with a number of Fortune 100 companies, major airlines and the Department of Defense. Management believes significant purchase orders will be placed pending successful completion of these programs. These pilot programs are forecasted to generate a minimum of $15 million in revenue in calendar year 2006.
Gabriel CEO Keith Feilmeier said, “This transaction positions Gabriel to provide advanced solutions into three major markets within the homeland security industry. When combined with our patented locking systems and the newly launched Trace, assisted GPS location services, the addition of Digital Defense’s biometric access solutions to our product portfolio positions us as a provider of truly unique, proprietary solutions in the rapidly growing homeland security space. We look forward to working with Steve Campisi and his talented team at Digital Defense Group in pursuit of significant opportunities in the months ahead.”
Pali Capital is providing financing for the acquisition. In addition to being Gabriel’s Investment Bank and key advisor, the principals and major clients of Pali Capital have been significant investors in Gabriel Technologies Corp as well. Pali Capital is a full-service NASD-registered and SEC and NASD regulated broker-dealer as well as a member of the Securities Protection Corporation (SIPC). Located in New York and London, Pali has leveraged its core business to create an integrated blend of discrete product lines including: equity execution and trading, options modeling and trading, commodities and futures trading, independent research, corporate finance, hedge fund hosting and asset management.
“We see this opportunity to bring Digital Defense Group into the Gabriel Technologies Corp family of companies as an important stepping stone for Gabriel’s continued mission to deliver timely and needed products to the homeland security and consumer sectors”, said Matthew Gohd, Managing Director of Pali Capital.
About Gabriel Technologies
Through its wholly owned subsidiary, Gabriel Technologies, LLC of Omaha, Neb., Gabriel Technologies Corp. develops, manufactures and sells a series of physical locking systems for the transportation and shipping industries collectively known as the WAR-LOK™ Security System. Security has evolved substantially in recent years due to increased risks from theft and terrorism. With the implementation of the award-winning WAR-LOK, Gabriel Technologies provides cost-efficient security measures to prevent national and global theft and homeland security issues. Gabriel Technologies’ mission is to provide the highest quality security products available to the transportation and shipping industries by creating innovative, proven technologies that can be implemented on a realistic basis. Gabriel Technologies Corp. is also the parent company of the next-generation-assisted GPS company, Trace Technologies, LLC, http://www.trace-tech.net.
For more information about Gabriel, contact Dan Chicoine at (402)
614-0258 or visit the companys website at http://www.gabrieltechnologies.com.
A profile on the business can be found at http://www.hawkassociates.com/gabriel/profile.htm.
Investors may contact Frank Hawkins or Julie Marshall, Hawk Associates,
at (305) 451-1888, e-mail: info@hawkassociates.com.An online investor relations kit containing Gabriel Technologies
press releases, SEC filings, current Level II price quotes, interactive
Java stock charts and other useful information for investors can
be found at www.hawkassociates.com and www.hawkmicrocaps.com.
Forward-Looking Statements: Investors
are cautioned that certain statements contained in this document
are Forward-Looking Statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements include statements which are predictive in nature,
which depend upon or refer to future events or conditions, which
include words such as believes, anticipates,
intends, plans, expects and
similar expressions. In addition, any statements concerning future
financial performance (including future revenues, earnings or
growth rates), ongoing business strategies or prospects, and possible
future Gabriel actions, which may be provided by management, are
also forward-looking statements as defined by the act. These statements
are not guarantees of future performance.
###
Hawk Associates, Inc.
Frank N. Hawkins, Jr. or Julie Marshall
Phone: (305) 451-1888
E-mail: info@hawkassociates.com
www.hawkassociates.com
www.americanmicrocaps.com