The proposed acquisition is subject to certain conditions and will involve a change in stockholder control of the Company, change of management, change of corporate name, change of corporate headquarters and other significant matters. The proposed acquisition is expected to involve a 2.8 to 1 forward stock split of the currently outstanding shares of common stock of Kayenta. Subject to the conditions precedent the Acquisition is proposed to be completed in mid-January, 2008.
Geospatial Mapping Systems, Inc. is an infrastructure technology company specializing in the mapping and management of underground pipeline systems.
Under exclusive license to Reduct NV of Belgium, Geospatial utilizes the DuctRunner Smart Probe Pipeline Mapping Technology to economically and accurately map underground water, sewer, energy (oil & gas), electrical and communication pipelines and conduits. Utilizing proprietary software, this critical pipeline location data is integrated into GIS (Geographic Information System) data bases which enable municipalities, utilities, energy companies and industrial pipeline operators to better manage their underground pipeline assets. Geospatial's website is www.geospatialcorporation.com.
This release includes forward looking statements. Such statements involve risks and uncertainties which could cause actual results to differ materially from those set forth herein.
Thomas G. Kimble & Associates
Thomas Kimble, 801-531-0066 (Company Counsel)