Key Developments For Digital Angel Corporation
Digital Angel Corporation (DIGA.O) (Consolidated Issue listed on NASDAQ Capital Market)
Digital Angel Corporation's SARBE Unit Announces Award Of Contract To Supply Personal Locator Beacons To Republic Of Singapore Air Force
Digital Angel Corporation announced that its SARBE unit has been awarded a contract to supply latest-generation Personal Locator Beacons (PLBs) to the Republic of Singapore Air Force (RSAF). The SARBE 6-406G equipment to be provided to the RSAF will replace their current fleet of SARBE 6 PLBs that have become obsolete due to changes in the satellite monitoring system. This initial contract of approximately $100,000 represents just a portion of the total projected demand from the RSAF, which is expected to exceed $2 million over the next two years.
Digital Angel Corporation Completes Sale Of McMurdo Unit
Digital Angel Corporation announced that it has successfully completed the sale of its McMurdo unit. According to the final terms of the transaction, the Company has received approximately $8.8 million in cash from the purchaser, of which $1 million will be held in escrow for up to 12 months.
Digital Angel Corporation's Destron Fearing Unit Chosen As Exclusive Manufacturer Of Visual and Electronic Tags For the American Angus Association's AngusSource Program
Digital Angel Corporation announced that its Destron Fearing unit has been chosen by the American Angus Association as the exclusive manufacturer of visual and electronic identification tags for its AngusSource program. Destron Fearing will manufacture AngusSource and Gateway program-compliant tags, offering producers a shorter turnaround time on tag orders, increased customization capabilities and a new radio frequency identification (RFID) option.
Digital Angel Corporation's SARBE Unit Receives Contract To Supply Personal Locator Beacons To Portuguese Air Force
Digital Angel Corporation announced that its SARBE unit has been awarded a contract valued in excess of $400,000 to supply latest-generation Personal Locator Beacons (PLBs) to the Portuguese Air Force (PAF). The SARBE 6-406G equipment to be provided to the PAF will replace their current fleet of SARBE 6 PLBs that have become obsolete due to changes in the satellite monitoring system. This initial contract covers just a portion of the total projected demand from the PAF, which is expected to exceed $1.5 million over the next three years.
Digital Angel Corporation Announces Agreement To Sell McMurdo Unit For $10 Million Cash
Digital Angel Corporation announced that it has entered into a definitive agreement to sell its McMurdo unit in the United Kingdom for $10 million cash. The key terms of the transaction are as follows: $10 million cash consideration, $1.5 million to be held in escrow for up to 12 months to cover post-closing claims, warranties or indemnities, closing to take place upon satisfaction of closing conditions, targeted for November 20, 2009 and Break-up fee of $500,000 payable by either party to the other, if a party fails to close when all conditions are satisfied.
