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gpsn (.055) GPS Industries Receives $4M Payment From Dubai Based Investor

Friday, December 28 2007 9:28 AM, EST PR Newswire "US Press Releases "
VANCOUVER, British Columbia , Dec. 28 /PRNewswire-FirstCall/ -- GPS Industries, Inc. (GPSI) (OTC Bulletin Board: GPSN), the world's leading provider of WiFi-enabled golf management systems, announced today that it has received from Leisurecorp LLC $4,000,000 representing the final installment payment on Leisurecorp's $10,000,000 investment under the May 2007 Securities Purchase Agreement. "We are grateful for Leisurecorp's continuing support of our business and restructuring efforts," stated Douglas Wood, GPSI's Chairman and Chief Executive Officer. "The total investment from our Dubai based shareholder is now $20,000,000 ."
About GPS Industries (GPSI)
GPS Industries, Inc. (OTC Bulletin Board: GPSN) is a global media and technology solutions provider. In the golf industry, the Company's Inforemer(R) GPS Management System features an integrated WiFi communications network, a comprehensive suite of management tools, and award-winning cart- mounted display units. These display units deliver an enriched playing experience for golfers. The Company owns key patents for many important GPS and Differential GPS (DGPS) applications in fifteen countries worldwide, including the United States , Australia , Great Britain and Japan . For additional information, please visit: http://www.gpsindustries.com
Forward-Looking Statements
Some statements contained in this release may be forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that such forward-looking statements involve risks and uncertainties that may cause the company's actual results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to, the company's ability to generate revenues and other factors as described in the Company's literature and filings with the Securities and Exchange Commission .
SOURCE GPS Industries, Inc.