Abbotsford, BC January 22nd, 2014 - Gatekeeper Systems Inc. (The "Company" or "Gatekeeper") (TSX.V: GSI) is pleased to announce that, subject to regulatory approval, it will extend the exercise period of the 4,220,000 share purchase warrants previously issued on February 19, 2013 in connection with the private placement completed by the Company on that date (the "Warrants"). The exercise period of the Warrants will be extended for an additional 12 months, to February 19, 2015. In accordance with the original terms of the Warrants, in the event the trading price of the Company's common shares closes at or above $0.75 per share for 10 consecutive trading days, the expiry date of the Warrants will be accelerated to the date that is 30 days from the date of the 10th consecutive trading day that the trading price of the Company's common shares closes at or above $0.75. Pursuant to the policies of the TSX Venture Exchange, warrants issued to brokers, agents or finders may not be amended.
The Company also announces that Mr. Robert Morrison has resigned as Vice President Safety Security Group due to personal reasons. Mr. Morrison will remain with the Company as a consultant under an advisory role. Doug Dyment, President and CEO of Gatekeeper stated, "Rob has been an important senior manager for Gatekeeper over the past year. We will continue to utilize Rob's talents to accelerate projects in our sales funnel particularly in the area of stop arm violations and photo enforcement".
Mr. Morrison added, "Gatekeeper is one of the most exciting company's I have come across throughout my career and while I'm resigning from my current duties for personal reasons, I'm looking forward to assisting the company with the execution of its business model under an advisory role".
About Gatekeeper Systems Inc.
Founded in 1997, Gatekeeper Systems Inc. has provided total mobile video security solutions to over 3,500 customers and has installations in every state and province in North America. Customers include school districts, public transit, law enforcement and military.
For more information visit: www.gatekeeper-systems.com.
On behalf of the Board,
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements: This release may contain forward-looking statements. Actual results could differ materially from those described in this news release as a result of various factors, including, but not limited to the timing of and ability to obtain regulatory approvals. The Company cautions that these and similar statements involve risk and uncertainties and are qualified by important factors, including the risk that the Company will not obtain required approval, that could cause actual results to differ materially from those in the forward looking statements. Forward-looking statements are made in the context of information available as of the date stated. The Company undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur, unless required by applicable law