Global Edition

GPS Industries receives $4m from Dubai investor

9.05am 31st December 2007 - Corporate

GPS Industries, Inc. (GPSI) has received $4,000,000 from Leisurecorp LLC representing the final instalment payment on Leisurecorp’s $10,000,000 investment under the May 2007 Securities Purchase Agreement.

“We are grateful for Leisurecorp’s continuing support of our business and restructuring efforts,” stated Douglas Wood, GPSI’s chairman and chief executive officer. “The total investment from our Dubai based shareholder is now $20,000,000.”

GPS Industries, Inc. is a global media and technology solutions provider. In the golf industry, the company’s Inforemer® GPS Management System features an integrated WiFi communications network, a comprehensive suite of management tools and award-winning cart- mounted display units.

The Company owns key patents for many important GPS and Differential GPS (DGPS) applications in fifteen countries worldwide, including the United States, Australia, Great Britain and Japan.

GPS Industries www.gpsindustries.com

       

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