PITTSBURGH — (BUSINESS WIRE) — March 12, 2010 — Geospatial Holdings, Inc. (OTCBB: GSPH), a developer and producer of technologies and services for managing underground pipeline assets, announced today that it has been awarded an indefinite delivery, indefinite quantity (“ID-IQ”) contract to locate and map underground infrastructure at an undisclosed Department of Energy (DoE) facility.
The contract is for a term of one year with an optional one year extension. Financial terms of the contract were not disclosed.
About Geospatial Holdings, Inc.
Geospatial Holdings, Inc., a Pittsburgh, Pennsylvania-based company, through its wholly owned subsidiaries across the U.S., is a solutions provider for the underground infrastructure industry. Using proven mapping and locating systems technologies, we successfully and accurately map XYZ centerline coordinates and create three-dimensional maps and Geographic Information System (GIS) databases. Geospatial is the exclusive provider of innovative, proprietary technologies and services throughout North America, South America and Australia.
As the number of underground systems increases and the need for replacing aging subsurface infrastructure continues, it is critical to identify the specific location of the utilities and conduits to assist in modifications, upgrades, retrofits, and replacements. Our precision technology gives our clients in the oil and gas, electric, municipal services (water and sewer), telecommunications, electrical transmission, GIS and Horizontal Directional Drilling (HDD) markets fast, cost-effective solutions, which minimize disruptions while enhancing customer satisfaction. We also offer solutions and technology to industry service providers including engineers, consultants and constructors regarding critical infrastructure issues.
For more information on Geospatial, go to http://www.geospatialholdings.com.
Safe Harbor Statement
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of the Company's products, the competitive environment within the industry, the ability of the Company to continue to expand its operations, the level of costs incurred in connection with the Company's expansion efforts, economic conditions in the industry and the financial strength of the Company's customers and suppliers. The Company does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.
Contact:
Geospatial Holdings, Inc.
Mark A. Smith, 724-353-3410
Chief
Executive Officer
Email Contact
or
The
Investor Relations Group
Jason Strominger / Adam Holdsworth / Robin
O’Malley, 212-825-3210