|February 28, 2000
ATI Airtest Technologies Inc. (CDNX Symbol AAT)
Optigas Due Diligence and Sales Update
Mr. George Graham, the President of Airtest is pleased to report
the following update.
Negotiations are continuing with Homburg Industries N.V., to acquire
all rights, title, and interest in Optigas & Enviroptics Industries
B.V. This will include the Optigas "GasCam", a new laser
gas detection technology as described in Airtest's amendment to
the prospectus. Airtest has been conducting further due diligence
during recent meetings in London England, and arrangements have
been made to extend the purchase deadline, until all parties are
satisfied with the agreement.
A system sale based around an AN3000 Gas Analyzer was made to
Remedx Corp of Calgary, Alberta. The system is to be delivered in
March and totals $110,000.00 (Cdn).
Two quotations have been submitted, one for $70,000.00 (Cdn) and
the other for $140,000.00 (Cdn). The first is to a power generating
station in Alberta, to monitor stack emissions, and the second is
to a chemical plant in Alberta replace gas chromatographs in a process
gas measurement application.
Identification of FTIR Analyzer Applications
There are a number of applications in both Alberta and the Texas
Gulf area that have been identified as potential sales targets for
the next 12 months. Most of the applications involve either emissions
monitoring or gas stream measurements in both chemical plants and
petroleum based plants. The type of FTIR analyzer sold exclusively
by Airtest is ideally suited for these applications.
Further updates will be issued as necessary.
For further information, please contact:
Georgia West Management Inc.
Phone: (604) 868 1000
Toll Free: (877) 868 1001
The Canadian Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.