Mississauga, Ontario – December 3rd, 2010 Baanto™ International Ltd. announces Valucap Investments Inc. (V.H-NEX) (“Valucap”) has acquired an interest in Baanto International Limited (“Baanto”) as part of a Series A round of financing.
Baanto systems, which are based on a breakthrough in optical sensor technology and its application to object tracking, are capable of highly accurate tracking of active or passive objects in both 2D and 3D. According to the company, the use of Baanto technology in touch screens, a passive 2D application, implements true multi-touch functionality without compromising performance or responsiveness. Featuring what the company describes as unparalleled scalability, the technology can be used as a cost-effective, direct replacement for almost every current touch technology for displays ranging in size from 8 to more than 120 inches.
Christie Digital Systems Canada Inc. (“Christie”), a world leader in the electronic display industry, has also participated in the financing round.
“Customer demand for touch in digital signage and other large display deployments is growing rapidly, and Baanto is well positioned to provide the scalable, cost-effective products that the market is demanding,” said Joe Kotas, CEO of Mississauga, Ont.-based Baanto.
“We are excited to invest alongside Christie in a company with significant future potential. The investment is a continuation of Valucap’s strategy of investing in privately held technology companies with high growth potential,” said Jeffrey Watts, President and Chief Executive Officer of Valucap.
Valucap is an investment issuer and is interested in making investments in emerging technologies and markets. Valucap intends to become a leading small cap Canadian equity company that specializes in investing in commercialized and undercapitalized companies that have high growth potential. Specifically, Valucap seeks to generate above average investment returns on its capital by providing “transaction driven” growth capital to micro and small cap companies which operate within preferred industry sector classifications. The common shares of Valucap are currently listed on the TSX Venture Exchange.
For further information about this press release or about Baanto International Ltd., please visit our website at www.baanto.com.
This press release includes certain “Forward-Looking Statements.” All statements, other than statements of historical fact, included herein, including without limitation, statements regarding future plans and objectives of Valucap, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.