IPICO announces exclusive letter of intent with MTN Telecommunications Network for cruise industry solution

On March 12, 2010, IPICO Inc. announced that it had entered into an exclusive letter of intent with Maritime Telecommunications Network, Inc. (MTN), a global service provider of communications, connectivity and content services to remote locations around the world, respecting the distribution of an integrated solution co-developed by IPICO and MTN for people-tracking applications on maritime vessels using IPICO's IP-X based tag and reader technology and MTN's proprietary software.

IPICO is an RFID solution supplier with operations in Canada, USA, South Africa, Europe, Asia and Australia.

Allan Beach of Fasken Martineau advised IPICO in this transaction.