updated 9/14/2010 12:46:15 PM ET 2010-09-14T16:46:15

TORONTO, Sept. 14, 2010 (GLOBE NEWSWIRE) -- Degama Software Solutions, Inc. (Pink Sheets:DGMA) proudly announces that the company has solidified a working agreement with Brazcan, S.A., the South American Real Estate company based in Brazil. The Agreement firms the working points both companies laid out earlier last week in an LOI. The Agreement now has Degama Software Solutions officially providing full-service Smartphone application development for Brazcan S.A. utilizing Degama's proprietary Geolocation-based software to serve Brazcan's commercial needs.

"We are thrilled to have negotiated a mutually attractive relationship with Brazcan, S.A. in this Agreement and plan to begin development as the ink on the contract dries," states Degama CEO, Seijin Ki. "This is tremendous for Degama Software Solutions. It allows us to penetrate a progressive market in a new industry with our geolocation IP; serving as a two-fold success which we feel will act as a catalyst for widespread success throughout South America and beyond."

After market analysis through the duration of the LOI, Brazcan executives are confident that the new App under development by Degama will see an estimated 500,000 users w ithin the first four months of launch in Northern Brazil. 

Based on these projections, Degama Software Solutions execs estimate annual revenues from the Brazcan Agreement, alone, to be "between $3-4 million dollars per year. This is far greater than we even anticipated," comments Ki. "However, after working with the figures from Brazcan, combined with the fact that viral and internet marketing of new products and services are extremely effective and received with enthusiasm in Brazil, we are extremely pleased and feel this will expedite our expansion into other countries as well."

According to a list released by Apple, the top three apps in the Brazilian App Store last year are all utility-focused. The most downloaded was Sygic Mobile Brazil, the first turn-by-turn GPS to come with domestic maps.

Degama is currently in discussions with two companies in South Brazil, which would serve to be a coup for the firm as "South Brazil and North Brazil are very separate from each other in terms of how they do business, commercially and economically," adds Ki. "To capture markets in both territories should prove to be an enormous success, literally. Brazil is the largest economy in Latin America and the ninth largest economy in the world. More people live in Brazil than the entire populations of the other South American nations combined."

About Degama Software Solutions, Inc.

Degama Software Solutions, Inc. is a leading edge technology company that develops and markets proprietary location based software solutions and applications for consumers and businesses. Degama Software Solutions, Inc. is a publicly listed company (Pink Sheets:DGMA)

Degama Software Solutions Inc., (Degama) markets and builds applications, or "apps" to make it simpler and more enjoyable for people to share information and get things done together. In a vast world Degama helps people navigate through their days and travels while at the same time staying connected to their friends, family and the world.

Degama is committed to developing and delivering the best products. As mobile devices become increasingly central to people's lives, we work hard to help you get the information you need when you are on the go. For more information about Degama Software Solutions please visit www.degamasoftwaresolutions.com

Safe Harbor: This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.

Release Prepared by NMR, LLC

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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