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BSM Technologies Announces Conversion of Preferred Shares

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^{Published in Science and Technology on Monday, January 17th 2011 at 14:00 GMT by Market Wire}  

WOODBRIDGE, ON, Jan. 17 /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 that it has exercised its option to convert, on a one-for-one basis, all 65,755,555 issued and outstanding preferred shares into common shares of the Company, in accordance with terms of the preferred shares.

Following this conversion, BSM has 293,256,117 common shares outstanding. 

About BSM Technologies
BSM Technologies, through its subsidiary BSM Wireless Inc., is a leading provider of remote monitoring, fleet tracking, fleet maintenance, and automated vehicle security systems 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 ]