Geospatial Mapping Systems, Inc. a privately-held infrastructure technology company specializing in the mapping and management of underground pipeline systems has entered into a Letter of Intent to be acquired by Kayenta Kreations, Inc. (OTCBB: KKRI).
The proposed transaction is subject to certain conditions and will involve a change in stockholder control of the Company, change of management, change of corporate name, change of corporate headquarters and other significant matters. The proposed acquisition is expected to involve a 2.8 to 1 forward stock split of the currently outstanding shares of common stock of Kayenta. Subject to the conditions precedent the transaction is proposed to be completed on or about January 14th, 2008.
About Geospatial
Geospatial Mapping Systems, Inc. utilizes proprietary technologies to safely, accurately and economically locate, map and assess the location and condition of all types and sizes of underground pipelines for the municipal, energy, and industrial sectors. Under exclusive license to Reduct NV of Belgium, Geospatial utilizes the DuctRunner Smart Probe Pipeline Mapping Technology to economically and accurately map underground water, sewer, energy (oil & gas), electrical and communication pipelines and conduits. Utilizing proprietary software, this critical pipeline location data is integrated into GIS (Geographic Information System) data bases which enable municipalities, utilities, energy companies and industrial pipeline operators to better manage their underground pipeline assets. For more information, visit the Company’s web site at www.geospatialcorporation.com.
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