QUAN Initiates Final JV Talks with Clelland DataSciences
HOUSTON--(BUSINESS WIRE)-- After presenting Clelland DataSciences (CDS) with a term sheet, Quantum International Corp. (OTCBB: QUAN) has begun its final round of talks with the cutting-edge technology company before the parties agree to enter a joint venture.
Quantum and CDS plan to work together to develop Clelland's specialized imaging technology into autonomous, robotic vehicles capable of sensing and detecting hidden landmines left behind on former battlefields. CDS has already sold manned demining platforms utilizing the technology, but both companies estimate the market for an unmanned version, which reduces risk to operators, to be much higher.
"We've already agreed in principle to this joint venture," said Quantum CEO Robert Federowicz. "Now it's just a matter of finalizing the details. We have no doubt that we'll be able to develop a successful, ground-breaking product that will save lives and be sought out for purchase around the world."
For more information on the company's leading-edge robotics initiatives, please visit www.quantuminnovators.com/investors.html.
The company plans to offer clients the next generation of robotics technology to compete in a booming global industry alongside iRobot Corporation (NAS: IRBT) , Honda Motor Co., Ltd. (NYS: HMC) , AeroVironment, Inc. (NAS: AVAV) and, potentially soon, Apple Inc. (NAS: AAPL) .
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About Quantum International Corp.
Quantum International Corp. (OTCBB: QUAN) is a robotics innovation company working to commercialize the next generation of sophisticated, automated technology. The Company is positioning itself to develop, deliver and market the most cutting-edge innovations in robotics in order to leverage the worldwide demand for the precision, speed, and cost-effectiveness these technologies offer.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Quantum International Corp.
Robert Federowicz, 832-308-1260
President and CEO
KEYWORDS: United States North America Texas
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