Advanced Wireless Communications, Inc. Announces Acquisition
Advanced Wireless Communications, Inc. Announces Acquisition
SALT LAKE CITY, Feb. 2 /PRNewswire-FirstCall/ -- Advanced Wireless Communications , an exclusive marketer of ultra high-speed wireless Internet access, VOIP and IPTV/VoD products, is pleased to announce today that it has executed a Share Exchange Agreement ("Agreement") with Heritage Communications, Inc. ("Heritage"), a Utah corporation, based in Salt Lake City, Utah.
The Agreement provides for a number of closing conditions, including Advanced Wireless bringing current its annual reports on Form 10-KSB, quarterly reports on Form 10-QSB and other required filings with the SEC. As of today, Advanced Wireless is in the process of obtaining audits and preparing narratives for the required SEC filings. AWSJ currently anticipates that the balance of the closing conditions will be satisfied and that the proposed merger will close by April 29, 2005.
David I. Davis, CEO of Advanced stated: "This agreement essentially cements our original intent to combine these two companies. Further, the combining of these two companies allows for a clear execution of our business strategies. We will now be one company able to deploy products and services on a state of the art facilities based wireless network. We have now taken a major step forward in becoming a national provider of video, voice and data services."
Mr. David Thayne, CEO of Heritage stated: "I have been looking forward to the completion of this merger since we first announced our intent concerning a share exchange agreement with Advanced in August of 2004. This is a great marriage for our shareholders as well as the shareholders of Advanced."
About Advanced: Until today AWSJ owned the exclusive license rights for Ultra High-Speed Wireless Internet, Voice Over Internet Protocol (VOIP), and IPTV/VoD developed by Heritage. The license was exclusive for the continental United States (excluding the State of Idaho).
About Heritage: Heritage is a provider of high-speed wireless Internet access, Voice Over Internet Protocol (VOIP), and IPTV/VoD. Advanced Wireless had previously acquired an exclusive license for the marketing and distribution of its proprietary high-speed wireless Internet access and proprietary Voice Over Internet Protocol system.
Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and the current economic environment. We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risk, uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance or expectations expressed or implied by such forward- looking statements.
Source: Advanced Wireless Communications
CONTACT: Dave Davis of Advanced Wireless Communications,
+1-801-266-9393, dave@advancedwi.com; or Investor Relations, Geoffrey Eiten of
OTC Financial Network, +1-781-444-6100, ext. 613, geiten@otcfn.com, for
Advanced Wireless Communications
Web site: http://www.advancedwi.com/
http://www.otcfn.com/awsj
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