Valued at US$1.7 Million
(Ottawa, Canada, September 3, 2008) -- OSI Geospatial Inc. (TSX:OSI) announced today that its U.S. Systems Operations has signed research and development contracts valued at approximately US$1.7 million. Under the terms of these contracts, the company will provide leading edge technology research and development for U.S. military organizations.
"We have world leading capabilities in advanced technology R&D for military applications. We have been very successful in the U.S. and we are focused on expanding into Canada and the UK," said Ken Kirkpatrick, president and CEO of OSI Geospatial. "These contracts provide the funding to enhance our existing technology and develop new technologies that directly support our strategy to establish a technology leadership position in our key markets."