RONKONKOMA, N.Y., Nov. 4 /PRNewswire-FirstCall/ -- Sentry Technology
Corporation (OTC Bulletin Board: SKVY) announced today that Saburah
Investments Inc, a company wholly owned by Sentry's President and CEO,
completed the investment of $641,000 to purchase approximately 4.8 million
shares of newly issued common stock in the Company at a price of $0.133 per
share. This transaction is a result of a previous agreement between Sentry
and Saburah Investments Inc. as part of Sentry's recent acquisition of ID
Systems.
"I am confident in Sentry's future and expect that this investment will
help ensure the growth of our Company," said Peter L. Murdoch, President and
CEO of Sentry Technology Corporation. "The investment will strengthen our
balance sheet as the Company is returning to profitability. We continue to
execute our plan to build Sentry. Additional working capital allows us to
develop new products, add experienced sales representatives in the U.S.,
expand our international dealer network and complete the integration of
recently acquired ID Systems."
Sentry Technology Corporation designs, manufactures, sells and installs a
complete line of Radio Frequency (RF) and Electro-Magnetic (EM) EAS systems
and Closed Circuit Television (CCTV) solutions. The CCTV product line
features the SentryVision(R) SmartTrack system, a proprietary, patented
traveling Surveillance System. The Company's products are used by retailers
to deter shoplifting and internal theft and by industrial and institutional
customers to protect assets and people. The Company's acquisition of ID
Systems expands the Company's product offering to include library security and
management tools, proximity Access Control and Radio Frequency Identification
(RFID) solutions. For further information, please visit our website at
http://www.sentrytechnology.com.
This press release may include information that could constitute
forward-looking statements made pursuant to the safe harbor provision of the
Private Securities Litigation Reform Act of 1995. Any such forward-looking
statements may involve risk and uncertainties that could cause actual results
to differ materially from any future results encompassed within the
forward-looking statements. Factors that could cause or contribute to such
differences include those matters disclosed in the Company's Securities and
Exchange Commission filings.
CONTACT:
Peter Murdoch
President & CEO
Sentry Technology Corporation
(631) 739-2000
SOURCE Sentry Technology Corporation
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Related links:
http://www.sentrytechnology.com
Company News On-Call:
http://www.prnewswire.com/comp/494538.html
CONTACT:
Peter Murdoch, President & CEO of Sentry
Technology Corporation, +1-631-739-2000
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