RANCHO MIRAGE, CA, July 22, 2013 /CNW/ - Craig Wireless Systems Ltd. ("Craig Wireless" or the "Company") (TSX: CWG), announces that the Toronto Stock Exchange (the "TSX") notified the Company that it has determined to delist the Company's
subordinate voting shares (Symbol: CWG) from the TSX at the close of
market on August 21, 2013 for failure to meet the continued listing
requirements of the TSX. Specifically, the continued listing
requirement that Craig Wireless failed to satisfy was maintaining the
requisite market value of its public float, which was less than $2
million for 30 consecutive trading days.
The Company is currently in the process of seeking qualifications for
listing on an alternative exchange and will provide an update in the following weeks as information becomes
About Craig Wireless Systems Ltd.
Craig Wireless and its affiliates (collectively, the "CWS Group") offer a broad range of telecommunications services, including,
broadband internet access, business connectivity solutions, hosting,
security and telecommunications solutions. Through certain members of
the CWS Group, Craig Wireless holds or leases licenses for spectrum in
the 2.3 GHz, 2.5 GHz, 2.6 GHz or 3.5 GHz bands in New Zealand,
Riverside County in Southern California, United States and in Greece.
The CWS Group also has spectrum interests in Norway. Spectrum in these
ranges is effective for delivery of point-to-multipoint signals,
possesses robust bandwidth capability and supports emerging 4G-based
applications, including portable and mobile applications.
The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Notice on forward-looking statements
This release includes forward-looking statements regarding Craig
Wireless and its business. Such statements are based on management's
current expectations. The forward looking events and circumstances
discussed in this release may not occur and actual results could differ
materially as a result of known and unknown risk factors and
uncertainties affecting Craig Wireless and its business. Not to limit
the generality of the foregoing, the forward-looking information set
forth in this news release is subject to various risks and other
factors including the following: availability of funding; funding and
going concerns; in addition to those risks enumerated under the heading
"Risk Factors" in the Company's AIF, available on SEDAR at www.SEDAR.com. No forward-looking statement can be guaranteed. Forward-looking
statements speak only as of the date on which they are made and Craig
Wireless does not undertake any obligation to publicly update or revise
any forward-looking statement, whether as a result of new information,
future events, or otherwise.
SOURCE: Craig Wireless Systems Ltd.
For further information:
Boyd Craig, Chief Executive Officer, Craig Wireless Systems Ltd., email: firstname.lastname@example.org.