Pacific GeoInfo reports joint venture with EarthData Holdings, Inc.
June 21, 2004
Atlanta, Georgia, USA and Calgary, Alberta, Canada - Pacific GeoInfo Corp. (TSX-V: PGO) reports that it has entered into a heads of agreement with EarthData Holdings, Inc., a private company headquartered in Washington, DC. The heads of agreement records the parties' agreement to form a joint venture company, EarthData Pacifica, Inc., to develop an international geospatial processing company based in Vancouver, British Columbia and also develop a "Pan Chinese" airborne remote sensing and geospatial processing company based in strategic regional locations throughout China. The services of the joint venture company and its subsidiaries will include airborne remote sensing (imaging and lidar), photogrammetric and lidar processing, the digitizing of vector data, GeoSAR radar processing, and providing hard copy to digital vector conversion.
EarthData is an airborne data collection, mapping, and GIS services company that provides clients with customized products, services, and GIS applications to support a wide range of land-use, resource management, and engineering activities. With its fleet of aircraft, the company collects aerial photography, uses airborne laser systems (lidar) and imaging radar (GeoSAR) to produce 3D terrain models, and develops or deploys other remote sensing technologies to detect thermal and multispectral information about the earth's surface. EarthData offices in Florida, Maryland, North Carolina, Virginia and Washington D.C. use this data to create and supply photogrammetric, lidar, radar, and digital orthophoto mapping and GIS applications and services.
The agreement provides that EarthData and Pacific GeoInfo will undertake their respective geospatial marketing and sales activities in Canada and Asia through the joint venture company. EarthData and Pacific GeoInfo have also agreed that they will subcontract data processing work, when applicable, to the joint venture company, subject to capacity and technical capability.
"We are extremely pleased with the opportunity to work together with EarthData and its talented professionals," said Lian Li, president of Pacific GeoInfo. "The complementary nature of our respective areas of expertise provide an excellent foundation for the joint venture."
"The opportunity to offer remote sensing, mapping, and GIS services throughout China and the Far East is a critical part of our strategy to increase EarthData's international presence," emphasized Bryan J. Logan, chairman of EarthData. "This partnership will ensure that strategy's success."
Included in EarthData's contribution to the joint venture company will be the transfer of certain hardware and software (including lidar equipment), project management, and responsibility for the training (technical, management and marketing) of the employees of the joint venture company and its subsidiaries. As part of its contribution, Pacific GeoInfo will transfer its interest in its subsidiary, Qinhuangdao CASW Data Technology Co., Ltd.
The formation of the joint venture is subject to the signing of a comprehensive agreement and necessary TSX Venture Exchange acceptance.
For more information about Pacific GeoInfo call 1.604.689.9113 ext.226, or visit: www.pacificgeoinfo.com.
ON BEHALF OF THE BOARD
"Lian Li", President and Director
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contact:
Mary Hiatt
301-948-8550, ext. 111
mhiatt@earthdata.com
