5 Nov 2008 07:00
Redline Communications reports investment made by Vecima
TORONTO, Nov. 5 /CNW/ - Redline Communications Group Inc. ("Redline") , a leading provider of WiMAX and broadband wireless infrastructure, received notification on 31 October 2008 that, as of the notification date, Vecima Networks Inc. ("Vecima") has acquired 1,742,600 common shares of Redline through the facilities of the Toronto Stock Exchange ("TSX"). Vecima stated that the shares were acquired for investment purposes. Vecima now owns 11.37% of the 15,327,140 common shares outstanding listed on the TSX, or 8.28% based on 21,048,635 common shares outstanding including Class A common shares.
About Redline Communications
Redline Communications (www.redlinecommunications.com) is the leading provider of fixed and mobile standards-based wireless broadband solutions. Redline's RedMAX(TM) WiMAX Forum Certified(TM) system, RedMAX 4C Mobile WiMAX(TM) products, and its award-winning RedCONNEX(TM) and RedACCESS(TM) families of broadband wireless infrastructure products enable service providers and other network operators to cost-effectively deliver high-bandwidth services, including voice, video and data communications. Redline is committed to maintaining its wireless industry leadership with the continued development of WiMAX and other advanced wireless broadband products. With more than 100,000 installations in 85 countries, and a global network of over 170 partners, Redline's experience and expertise helps service providers, enterprises and government organizations roll out wireless broadband networks to support advanced communications.
NOTE: All registered and unregistered trademarks mentioned in this release are the property of their respective owners.
Certain statements in this release constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws and are made pursuant to the "safe harbour" provisions of such laws. Statements related to potential benefits of, and demand for, Redline's products including statements with respect to the features and benefits that may be achieved through the use of Redline's products and the relative position of these products vis-Æ’Â -vis competitive offerings in the industry are forward-looking statements which are subject to certain assumptions, risks and uncertainties. These risks and uncertainties include such factors as rapid technological changes, long uncertain sales cycles, demand for our products, the introduction of competing technologies, meeting industry standards, regulatory risk, dependent on key partners and resellers and other similar factors that may cause the actual results, performance or achievements of Redline to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Redline assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information: Redline Communications: Carolyn Anderson, ChantelleBani, canderson(at)redlinecommunications.com,cbani(at)redlinecommunications.com, Tel: (905) 479-8344; Equicom Group: CraigArmitage, Vanessa Beresford, carmitage(at)equicomgroup.com,vberesford(at)equicomgroup.com, Tel: (416) 815-0700; Canaccord Adams: NeilJohnson, Andrew Chubb, Tel: +44 (0)20 7050 6500(RDL)
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