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Boomerang Systems, Inc. Announces Note Exchange Offer

Florham Park, New Jersey May 18, 2015 – Boomerang Systems, Inc. (OTCQB: BMER, the “Company”), today announced that it has commenced an offer to issue shares of its common stock (the “New Shares”) in exchange for the entire balance (principal and accrued and unpaid interest) of the 15% secured notes (the “Notes”) issued pursuant to the Loan and Security Agreement dated as of June 6, 2013 (the “Loan Agreement”) by and among the Company, Boomerang Systems, Inc., Boomerang USA Corp. and Boomerang MP Holdings, Inc. (collectively, the “Borrowers”), the Lenders party thereto from time to time and Parking Source LLC, as agent (the “Offer”).  Notes which are validly tendered and not withdrawn by 11:59 P.M. (Eastern Time) on June 18, 2015 are eligible to participate in the Offer.  The New Shares will be issued at the rate of one New Share per $2.75 of principal and accrued interest on the Notes that are exchanged, subject to adjustment in the event the Company consummates an equity or debt offerings prior to December 31, 2015, at a lower price per share.

“We believe that the exchange offer is mutually beneficial for the secured note holders and Boomerang Systems,” said James Gelly, Chief Executive Officer of the Company. “We are making this offer to settle the balances of the notes and give the holders of the notes the opportunity to obtain common stock of the Company. The exchange under the offer provides an opportunity for the Company to relieve substantially all of the outstanding debt as we believe we will need to raise additional funds in the near future to fund operations, and we do not believe we will able to raise additional equity capital unless we exchange all or a substantial portion of the notes.”

Important Notice

This press release is for informational purposes only and is neither an offer to exchange nor a solicitation of an offer to exchange any of the company’s securities. The offer to exchange will be made only pursuant to the Offer, the related election to participate and other materials that are being mailed shortly to holders of secured notes eligible to be exchanged in the offer.  Holders of notes eligible to be exchanged in the offer should read those materials and the documents incorporated therein by reference carefully the exchange offer because they will contain important information, including the various terms of, and conditions to, the exchange offer.

About Boomerang Systems, Inc.

Headquartered in Florham Park, New Jersey, with offices in Logan, Utah and research, design, testing and production facilities in Fort Pierce, Florida, Boomerang Systems, Inc. (www.boomerangsystems.com) is in the business of marketing, designing, engineering, manufacturing, installing and servicing its RoboticValet® automated parking systems.

The Company is the developer and sole provider of the patent-pending Boomerang RoboticValet® automated parking system, which differs from legacy mono-path automated parking systems in that it uses omni-directional, battery-powered robots, and a proprietary software and robotics guidance system, to carry vehicles parked on self-supporting steel trays to and from storage spaces by driving directly on a concrete slab surface, without the use of a rail or track.

Safe Harbor Statement

Safe Harbor Statements under the Private Securities Litigation Reform Act of 1995: The Material contained in this press release may include statements that are not historical facts and are considered "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect Boomerang Systems, Inc.'s current views about future events, financial performances, and project development. These "forward-looking" statements are identified by the use of terms and phrases such as "will," "believe," "expect," "plan," "anticipate," and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties, and other factors that could cause actual results to differ materially from Boomerang's expectations. These risk factors include, but are not limited to, the risks and uncertainties identified by Boomerang Systems, Inc. under the headings "Risk Factors" in its latest Annual Report on Form 10-K. These factors are elaborated upon and other factors may be disclosed from time to time in Boomerang Systems, Inc.'s filings with the Securities and Exchange Commission. Boomerang expressly does not undertake any duty to update forward-looking statements.

Benefits of Automated

Automated robotic parking systems use robots and lifts to store and retreive vehicles enabling them to use up to 50% less space (than a ramp garage) to park the same number of cars without the labor, damage and privacy issues that come with valet drivers.

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Design & Develop Smarter

The RoboticValet has changed the development game by unlocking valuable air rights previously consumed by parking, and in some cases by making it feasible to develop sites previously thought to be unprofitable due to space required for parking.  

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About Boomerang Systems

Boomerang Systems, Inc. is the U.S.-based designer of the patented RoboticValet, manufactured in Fort Pierce, Florida. Where other suppliers simply copy and iterate, Boomerang innovates.

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