03:43 PM EST - Aeroquest International Inc. : and GeoDigital International Inc. announced that they have entered into a binding agreement under which GeoDigital will acquire the Energy Division of Optimal Geomatics from Aeroquest. Based in Vancouver, British Columbia, Canada, the Energy Division is a provider of LiDAR and geospatial engineering services to electrical utilities and related energy companies across North America. The companies plan to jointly pursue opportunities of mutual interest internationally. The Agreement is subject to a number of conditions precedent to closing with closing scheduled for March 31, 2010. The total sale proceeds of the transaction are dependent on working capital at closing, but are expected to be less than C$500,000. Management of Aeroquest does not expect the sale to have a material impact on earnings for their current fiscal year. Aeroquest International Inc.
shares T.AQL are trading even at $0.45.
