DEQ Systems Corp. (TSX-V: DEQ) announces the conclusion of an agreement for the granting of a non exclusive right to use specific patents with Quebec company Labtronix Technologies for an amount of US$300,000. This agreement foresees the integration of DEQ intellectual property in Labtronix slot machines and management systems.
The granted license relates to intellectual property, technology and methods for random attribution of prizes to players. This patented technology is currently used in DEQ's electronic side betting systems for casino table games.
Mr. Earle G. Hall, DEQ President & CEO stated: "This licensing agreement is the first step of our marketing plan for our patents as a product line. Choosing Labtronix as our premier partner was natural, taking into account the distribution agreement announced between the two companies last September. Moreover, Labtronix's market presence is complementary to that of DEQ. This agreement will be used as a business case to spearhead our commercialization drive for this promising product line."
Mr. Gerald Duhamel, President of Labtronix Technologies added: "The slot machine market is highly competitive. Our priority is to consistently introduce new methods and functionality that enable us to increase our product performance. The addition of DEQ's intellectual property and features into our slot machines and systems will enhance our product offering to our customers."
About DEQ Systems Corp.
DEQ is a worldwide provider of gaming technology products including multiple bet electronic side-betting systems. DEQ's internationally patented technology enhances performance and the pleasure of existing casino gaming products. DEQ's products are present in more than 185 casinos located in more than 30 countries around the world. DEQ has developed and holds an extensive international patent portfolio that is the basis of the current product line.
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Forward-looking statements contained in this Press Release involve known
and unknown risks, uncertainties and other factors that may cause actual
results, performance and achievements of the Company to be materially
different from any future results, performance or achievements expressed
or implied by the said forward-looking statements.
For further information: please contact: Earle G. Hall, President & CEO, (418) 839-3012, earle.hall@deq.com; Marcel Lachance, Chief Financial Officer, (418) 839-3012, marcel.lachance@deq.com; www.deq.com