Mr. Jim Girard reports

OSI GEOSPATIAL INC. RECEIVES FINAL APPROVAL OF TSXV

OSI Geospatial Inc. has learned that the TSX Venture Exchange (TSX-V) granted its final approval with respect to the company's previously announced delisting from the TSX-V and going private transaction to be completed by way of a court-approved plan of arrangement. Pursuant to the TSX-V's formal bulletin issued today, the company's common shares will be delisted from the TSX-V effective at the close of business on July 12, 2012, 10 business days after issuance of the bulletin.

The transaction is expected to become effective on July 13, 2012, the day after the delisting. The transaction provides, among other things, that (i) each Class B Series 2 preference share held by a preferred shareholder be converted into common shares of the company at a conversion rate of 156.667 common shares per preferred share, which is equivalent to a value of $9.40 per preferred share, and (ii), all of the issued and outstanding common shares be consolidated on a 1:250,000 basis and common shareholders holding less than one postconsolidation common share be paid six cents in cash, representing a 33-per-cent premium to the preconsolidation market price for the common shares, per preconsolidation common share held by them.

Following the delisting and effective date, the company will apply to the relevant securities commissions to cease to a reporting issuer and expects to close the transaction in late July 2012.

Further details regarding the transaction are set out in the management information circular dated May 16, 2012, which is available under the company's profile on SEDAR.

We seek Safe Harbor.