• News » IRAP Funding for DataTrak Fri Oct 28 6:11:31 UTC 2005

    Real Time Measurements Inc. (TSX Venture Exchange: “RTY”) (the “RTM”) Mr. Terry Matthews, President of RTM, is pleased to announce that RTM has entered into an Industrial Research Assistance Program (IRAP) Contribution Agreement with National Research Council Canada (NRC).

    NRC and RTM have agreed that NRC will contribute up to a maximum of $119,400 towards the costs incurred and paid by RTM in conducting the Research and Development work necessary to develop RTM’s groundbreaking DataTrak technology platform.

    NRC contributions will cover a period of one year. Actual contributions are calculated monthly using a formula based on 50% of the payroll costs associated with a newly hired team of designers who will be assigned the DataTrak R&D effort.

    Mr. Matthews said; “This is an exciting important step forward in the development of RTM’s new technology platform. We are grateful to NRC for their generous support in helping us work towards making DataTrak a successful commercial reality. This project is not just about developing a technology platform; we are also developing an effective design team.”

    Trading in the securities of RTM should be considered highly speculative. The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.