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Advanced ID Corporation, A Leading RFID Company, Receives
Support In A Transaction To Purchase 2.1 Million Shares
Advanced I.D. Corp. announced today that a group of its investors has
instituted a private buyback program of 2.1 million shares of Advanced I.D.
(AIDO) stock from Heritage Ventures over the next year.
Calgary Canada, February 1, 2006 - The largest shareholder in Advanced I.D.
Corporation (AIDO), Heritage Ventures Ltd. (HVL), has agreed to sell 2.1
million shares of Advanced I.D. Corporation stock to a group of private
investors. Heritage Ventures currently holds over 35% of stock in the
company.
According to David Goldenberg, President of HVL and a Director of AIDO, “The
structure of this purchase allows HVL to enjoy increased liquidity and
provides further investment in sustained growth. Heritage is, and will
continue to be the largest shareholder in Advanced I.D. Corporation. We
believe in the value of Advanced I.D. Corporation, the leadership team, the
continued research and the positive application of Advanced I.D. Corporation
products that is being realized. We feel this transaction will be good for
Advanced I.D. Corporation. We are also encouraged that Advanced I.D.
Corporation is receiving positive results through the release of the DataTag™
UHF livestock identification system, and that Advanced I.D. Corporation
continues to be a market leader in companion animal identification for
Canada, through Advanced Pet I.D.. We feel this recent opportunity as well
as other factors indicate continued and sustained growth of Advanced I.D.
Corporation.”
According to Dan Finch, President and CEO of Advanced I.D., “We are pleased
that our shareholders continue to view Advanced I.D. as an attractive
investment and believe this transaction shows the increased support and
commitment of our shareholders. This purchase augments the long standing
support of Heritage Ventures Ltd. Our investors understand the value of
Advanced I.D. and the global need for our products. Heritage has been with
us since our inception and has provided support and vision as we have
undertaken a great deal of investment in research and the recent launch of
our DataTag™ livestock I.D. system. As a venture business, we are very
pleased that Heritage understands and would support this opportunity.”
The transaction has a cash value of $400,000.00 (U.S.) secured by an
additional block of 5 million shares of AIDO stock.
About Advanced ID Corporation:
Advanced ID Corporation (OTCBB: AIDO) is a complete solutions provider in
the radio frequency identification (RFID) market. RFID provides a means for
positive identification and trace-back of animals or objects that have been
identified with a microchip or RFID tag.
The company has realized growth of 62% in the first two quarters of 2005,
primarily through the companion animal identification segment; Advanced Pet
I.D. The Pet Microchip Company, the largest provider of companion animal
identification in Canada.
Since 1994, Advanced ID Corporation has offered a product line of over 100
items comprised of low frequency (LF) RFID microchips, identification
scanners, and a proprietary pet recovery database to the companion animal
and biological sciences markets. Advanced ID Corporation supplies over 3,000
organizations such as animal shelters, veterinarians, breeders, government
agencies, universities, zoos, research labs and fisheries with LF RFID
devices for companion animals, equines, bovines, llamas, alpacas, ostriches,
aquatic species, reptiles, migratory and endangered species. Advanced ID
Corporation has implanted LF microchips in over 450,000 animals, currently
tracks nearly one million animals in a proprietary pet recovery database,
and reunites numerous lost pets with their families each month.
Since 2001 Advanced ID Corporation has been developing and commercializing
its UHF line of food-animal and wildlife identification products and
systems. Advanced ID Corporation continues to be actively involved with
government and industry livestock identification and trace-back projects and
pilots in Australia, Canada, Brazil, Argentina, Thailand, Taiwan and the
United States.
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Safe Harbor Statement: Statements in this press release other than
statements of historical fact, including statements regarding the company’s
plans, beliefs and estimate as to projections are “forward-looking
statements”. Such statements are subject to certain risks and uncertainties,
including factors listed from time to time in the company’s SEC filings, and
actual results could differ materially from expected results. These
forward-looking statements represent the company’s judgment as of the date
of this release. Advanced ID Corporation does not undertake to update,
revise or correct any forward-looking statements.
Contact: Loran Hickton
Salmon Creek Public Relations Inc.
Telephone: 360-571-5560
lhickton@salmoncreekpr.com
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