Boomerang Tracking Inc. Enlists Strategic Support of 14 Insurance Companies in Ontario |
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| Boomerang Tracking Inc. |
| Press Release |
| Linda Farha |
| 4/23/01 |
| MONTREAL, Quebec – April 23, 2001 – Boomerang Tracking Inc. (TSE : BMG), manufacturer of the Boomerang® Tracking System, announced it has enlisted the strategic support of fourteen Ontario insurance companies for its tracking system including national insurers such as The Guarantee Company of North America and Economical. The Boomerang® Tracking System is already supported by 32 insurance companies in the province of Quebec. In most cases, these companies mandate or recommend the installation of the Boomerang® in high-end and high-risk vehicles. These fourteen insurance companies joined their Quebec counterparts to become the first in Ontario to endorse the Boomerang® Tracking System by recommending the device and possibly providing discounts for its installation in certain vehicles and heavy machinery. “We are pleased with the Ontario market’s receptiveness to the Boomerang® Tracking System and the progress we are making in this province. With the continued support from the insurance industry and our concerted marketing and sales efforts, we anticipate accelerated momentum,” says Kenneth Helferty, Vice President of Sales and Market Development. The Boomerang® Tracking System has led the Company’s tracking team to the recovery of over $45 million in stolen assets to date, with $6 million of these occurring in the province of Ontario. Over five thousand Boomerang®’s have been installed in vehicles and heavy equipment in the province of Ontario alone, accounting for approximately 17% of the Company''s total installations. “Boomerang has made great inroads in the Canadian marketplace and has proven its effectiveness as a solution to asset protection. The insurance industry has embraced the Boomerang® Tracking System as it recognizes the benefits it provides both to the industry and to the consumer. It’s a win-win situation providing the insurer a solution to reducing their losses and the consumer a means for affordable peace of mind and security.” says Peter Lashchuk, the Company’s president. For further information regarding the Boomerang® Tracking System, contact the Company’s customer service department at 1.877.777.8722 or visit its website at www.boomerangtracking.com. To find out if you are eligible for discounts in premium or other rebates, contact your insurance broker or your insurance company. About Boomerang Tracking Inc. Boomerang Tracking Inc. assembles, markets and distributes the Boomerang®, a proprietary product using technology patented by the Company. Its head office, installation and production facilities are located in Montreal, Quebec. The Boomerang® is the central device in a cellular-based asset tracking system, capable of locating stolen automobiles, heavy equipment and valuable objects utilizing the cellular systems of major regional telecommunications companies. The Company’s proven recovery record has received endorsement by members of the insurance industry. Boomerang® is a registered trademark of Boomerang Tracking Inc. This press release contains forward-looking statements, which reflect the Company''s current expectation regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors. Investors should consult the Company''s ongoing quarterly filings, annual reports and proxy solicitation filings for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements and the Company disclaims any obligation to update them. No regulatory authority has approved or disapproved of the information contained herein. - 30 - |
| Boomerang® is a registered trademark of Boomerang Tracking Inc. It's headquarters are located in Montreal, Quebec. Boomerang products are sold and distributed in the provinces of Quebec, Ontario, British Columbia and in the Dominican Republic. Boomerang Tracking Inc. shares are traded on the Toronto Stock Exchange (TSE) under the trading symbol "BMG". |