| Vancouver, BC,
August 15, 2007 -VendTek Systems Inc. (TSXV:
VSI) (“VendTek” or “The Company"),
a leading provider of software for prepaid service distribution,
is pleased to announce that the Company has signed an
agreement with Gateway Newstands to provide its e-Fresh™
software for the electronic distribution of prepaid
products and services.
Gateway Newstands serve the daily merchandise needs
of premier commercial, retail and transit developments.
In business since 1983, Gateway Newstands has established
itself as the leading national tobacco/news store specialist.
The Company has over 500 stores in North America with
locations in eight Canadian provinces with dominance
in Ontario. They also have over 100 U.S. locations with
concentration in New York & Chicago and 16 new locations
in the Chicago Transit Authority (CTA) since early 2002.
The Company has installed its e-Fresh™ software
on 100 Gateway locations to-date. This is brings the
total Canadian locations to 12,000 on the Now Prepay™
network.
Doug Buchanan, Chief Executive Officer of VendTek said:
“Gateway Newstands has an excellent retail presence
in high pedestrian traffic areas. We are extremely pleased
that they have chosen VendTek’s software and our
Now Prepay network as their primary distributor of prepaid
products and services.”
For more information please contact Samantha Haynes
at 1-800-806-4958 or 604-805-4653 or via e-mail shaynes@vendteksys.com.
About Gateway Newstands
Gateway Newstands are specialists; their only business
is to serve the daily merchandise needs of premier commercial,
retail and transit developments. Gateway Newstands has
established itself as the leading national tobacco/news
store specialist. The Company has consistently rated
among North America's top 100 franchises by Entrepreneur
magazine. For further information please visit the company’s
website www.gatewaynewstands.com
About VendTek
VendTek develops and licenses automated transaction
system software and supporting technologies that improve
the efficiency of product delivery, reduce costs to
clients and offer superior safety measures. VendTek's
customers and its subsidiaries, Now Prepay Corp. (in
Canada) and VendTek Systems Technologies (in China),
are using e-Fresh™ software to build electronic,
prepaid services networks, which enable consumers to
purchase prepaid services via POS and self-serve terminals
connected to a central e-Fresh™ server. This system
creates significant value through improved efficiencies
compared to the traditional distribution paradigm. e-Fresh™
reduces shrinkage and inventory requirements while improving
consumer access to prepaid services by completely eliminating
physical cards and vouchers. For further information
please visit the Company’s websites www.vendteksys.com
and www.nowprepay.com.
The TSX Venture Exchange has not reviewed and does
not accept responsibility for the adequacy or accuracy
of this release.
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