BSM Technologies Inc. Announces $7,500,000 Fully Marketed Prospectus Offering of Common Shares

TSXV: GPS

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, Feb. 11, 2013 /CNW/ - BSM Technologies Inc. ("BSM" or the "Company") (TSX-V: GPS), a leading provider of remote monitoring, fleet management, fleet diagnostics and automated vehicle security systems, today announced a fully marketed prospectus offering of common shares ("Common Shares") through a syndicate of agents led by Paradigm Capital Inc. (the "Lead Agent"), and including MGI Securities Inc. and Loewen, Ondaatje, McCutcheon Ltd. (collectively with the Lead Agent, the "Agents"), along with PowerOne Capital Markets Limited as a member of the selling group with respect to the offering. The Agents will raise up to $7,500,000 on a best efforts basis (the "Offering"). The Offering will be comprised of Common Shares to be priced in the context of the market (the "Offering Price"). The Agents will also have the option to increase the size of the Offering by an additional 15% at any time up to 30 days following the closing date.

The net proceeds from the Offering are expected to be used by the Company for business expansion, research and development, sales and marketing, product expansion and general working capital purposes.

The offering is scheduled to close on or about February 28, 2013 and is subject to certain conditions including, but not limited to, completion of satisfactory due diligence investigations and receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

About BSM Technologies (bsmwireless.com)

BSM Technologies, through its subsidiary BSM Wireless Inc., is a leading provider of remote monitoring, fleet tracking, fleet maintenance, and business intelligent engine providing real time, web-based tracking of mobile and fixed assets. BSM provides solutions for commercial, government, and law enforcement organizations who manage and operate diverse assets and large fleets, and who seek to enhance customer service, improve the safety of their drivers and vehicles, and lower business costs.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

For more information, please visit http://www.bsmwireless.com

Cautionary Statement Regarding Forward-Looking Information

This news release contains forward looking information.  Such forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could", or "might" occur or to be achieved and any other similar expressions.  In particular, this news release contains forward-looking statements in respect of the use of the net proceeds from the Offering and the completion and timing of the Offering.  These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business.  Management believes that these assumptions are reasonable.  Forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking information.  Some of these risks, uncertainties and other factors are described under the heading "Risks Factors" in the Company's annual information form available on www.sedar.com.  Forward-looking information is based on estimates and opinions of management at the date the statements are made.  Except as required by law, BSM does not undertake any obligation to update forward-looking information even if circumstances or management's estimates or opinions should change.  Readers should not place under reliance on forward-looking information.

SOURCE: BSM Technologies Inc.

Aly Rahemtulla
President & CEO
BSM Technologies Inc.
[phone]
[email protected]

Babak Pedram
TMX Equicom
[phone] ext. 264
[email protected]