Calgary, Alberta CANADA, February 01, 2012 /FSC/ - Platinum Communications Corporation (PCS - TSX Venture), announced today that it has entered into an agreement to purchase "AlbertaHighSpeed" a regional Wireless Internet Services Provider covering the communities of Lacombe, Blackfalds, Rimbey, Bentley, Crestomere and Red Deer East in Central Alberta. This acquisition, which is subject to the approval of the TSX Venture Exchange and the negotiation of a formal agreement, is expected to close within the next 90 days. The purchase price of $1,300,000 is subject to adjustments that are standard for this type of transaction.
Bernard Parkinson, President & CEO, states, "We're excited with this acquisition as it overlays our existing network and materially strengthens our presence in the rapidly growing Calgary to Edmonton corridor. Further, this acquisition will add 19 service delivery locations, 15 communities and 1,300 subscribers. Central Alberta is growing quickly and we plan to leverage this market potential."
With the addition of AlbertaHighSpeed, Platinum's total customer base will grow to in excess of 10,000 subscribers. A network map showing Platinum's growing footprint with the addition of AlbertaHighSpeed can be found at http://www.platinum.ca/acquisition/network_map.jpg.
ABOUT PLATINUM COMMUNICATIONS
Platinum Communications Corporation (TSX-V: PCS) is a leading provider of superior quality fixed wireless Internet and Broadband solutions in Alberta. Based in Calgary, Platinum operates a wireless broadband network that utilizes Next-Generation WiMax technology to bring fast, reliable and affordable Internet services and digital phone solutions to residents and businesses across the Province. The company serves more than 10,000 customers in over 201 communities from 145 service delivery locations, primarily in rural Alberta. Platinum uses licensed and unlicensed wireless broadband and fiber network that extends from the north of Edmonton to the Alberta/US border, covering more than 65,500 square kilometers. Platinum caters to rural and near-urban markets that are often beyond the reach of traditional Internet providers. For more information, please visit our website at www.platinum.ca or call 403-301-4591.
For further information please contact:
Bernard Parkinson, CEO Katherine Kirkup, CFO
Phone (403) 301-4591 Phone (403) 301-4594
To view this release as a webpage, please click on the following link:
http://www.usetdas.com/pr/platinumpr02012012.htm
Contact:
Platinum Communications Corp.
Bernard D. Parkinson, CEO
403-301-4591
bparkinson@platcom.ca
Source: Platinum Communications Corporation (TSX-V: PCS) http://www.platinum.ca
Maximum News Dissemination by Filing Services Canada Inc. http://www.usetdas.com
No comments:
Post a Comment