MONTREAL, June 20, 2006 (PRIMEZONE) -- The Board of Directors of AbsoluteSKY, Inc. (Pink Sheets:ABSY) today disclosed that it is about to finalize an agreement with a major multinational system supplier and integrator serving the retail technology industry.
Amidst concern that news of this agreement, due to its broad implications in the marketplace, could become public knowledge prior to formal announcement, the Company has chosen to advise shareholders that it believes final signing to be imminent.
The Company is stating only that the agreement being finalized is a comprehensive, multi-faceted, strategic partnership with a Fortune Global 100 corporation. Further details will be made available upon closing.
About AbsoluteSKY, Inc.
AbsoluteSKY, Inc. (Pink Sheets:ABSY) specializes in the design, development and implementation of Radio Frequency Identification (RFID) technology that provides individual item-level inventory tracking for retail customers. Based in Montreal, Quebec, the Company's business model combines strategic, creative and technical skills to deliver solutions that help its clients achieve their business objectives through the use of AbsoluteSKY's breakthrough technology and extensive knowledge of their business operations. For more information visit: www.AbsoluteSKY.ca.
AbsoluteSKY's Safe Harbor Statement
Except for any historic information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, which are subject to section 27A of the Securities Act of 1933 and section 21E of the Exchange Act of 1934, and are subject to safe harbor created by these sections. Any statements that express or involve discussions with respect to predictions, beliefs, plans, projections, objectives, goals, assumptions of future events or performances are not statements of historical fact and may be "forward looking statements". Forward looking statements in this release may be identified through the use of such words as "expects," "anticipates," "estimates," "believes," or statements indicating certain actions "may," "could," or "might" occur. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements, which involve numerous risks and uncertainties, including the Company's ability to market its products and services in a competitive environment as well as other factors.