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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
PRESS CONTACTS: James W. Shepperd
Chief Financial Officer
SAFLINK Corporation
(425) 881-6766
SAFLINK Corporation and Jotter.com Complete Transaction
REDMOND, WA (December 18, 2000) - SAFLINK Corporation (NASDAQ: ESAF), announced
today that it purchased all of the intellectual property and fixed assets of
Jotter Technologies Inc. after terminating a merger agreement previously
executed by the parties. As consideration for the sale of the assets, Jotter
will receive 5.1 million shares of SAFLINK common stock, $.01 par value, and a
two-year, unsecured note for $1.7 million. SAFLINK did not assume any material
liabilities of Jotter. Under the asset purchase agreement, in the event Jotter
does not satisfy certain Canadian tax obligations, SAFLINK will be entitled to
pay the tax and reduce the purchase price or rescind the transaction. In
addition, the SAFLINK common stock to be issued to Jotter will be held in escrow
on behalf of Jotter and released in monthly distributions beginning ninety days
after the closing of the transaction. Jotter and certain of its affiliates have
also entered into non-compete agreements with SAFLINK and SAFLINK has granted
registration rights for the resale of the shares of SAFLINK common stock to be
issued to Jotter. SAFLINK expects that substantially all of Jotter's technical
and marketing personnel will accept employment at SAFLINK.
The securities offered have not been registered under the Securities Act of
1933, as amended, and may not be offered or sold in the United States absent a
registration or an applicable exemption from registration requirements. Further
information is available through the company's web site (www.saflink.com).
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All brands and products referenced herein are acknowledged to be trademarks,
registered trademarks or service marks of their respective holders.
The aforementioned remarks contain forward-looking statements that involve risks
and uncertainties including without limitation those related to the ability of
SAFLINK to integrate Jotter's assets into its operations and to complete and
market new products. The Company's actual results could differ materially from
those discussed above.
