XPEL Settles Lawsuit As Plaintiff
XPEL SETTLES LAWSUIT AS PLAINTIFF
SAN ANTONIO, TEXAS, September 13, 2006…XPEL Technologies Corp. (TSXV: DAP.U) today announced the signing of a settlement agreement with a former employee, and a former distributor regarding legal action taken by the Company against the Defendants.
XPEL Chairman and CEO W. Rege Brunner commented, “We took very seriously the issues that led up to the filing of various lawsuits, which have been previously disclosed in our financial statements. As Plaintiff, XPEL applied a great deal of resources to protect its intellectual ‘know how’ and property. As of today, the various legal matters brought by XPEL against the Defendants have been settled in a fashion acceptable to the Company.”
XPEL Technologies Corp. (www.xpel.com), publicly traded on the TSXV Exchange, is the worldwide leader in the electronic delivery of top automotive aftermarket products, utilizing the Internet as an integral component for its design, manufacturing, distribution and customer relationship strategies. The Company’s DAP software utility offers Dealers the industry’s most efficient and productive tool set for better serving customers with “best of breed” solutions in real-time. XPEL has clear advantages over the competition through its proprietary corporate framework consisting of an expansive library of installation-friendly window tint, paint and headlight protection products, coupled with a unique web-based remote manufacturing and distribution software, superior installation training curriculum and facilities, and established and growing sales distribution channels.
The TSXV has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.
Chief Executive Officer
John Nesbett/Jennifer Belodeau
Institutional Marketing Services (IMS)