MONTREAL, June 5, 2012 /CNW Telbec/ - Mitec Telecom Inc. ("Mitec") (TSX:
MTM), today announced that its shares will commence trading on NEX
effective at the opening of TSX Venture Exchange trading hours on June
Mitec's trading symbol will be "MTM.H", indicating its NEX listing.
Mitec's transition from the TSX to the NEX provides a more flexible
listing status that allows it to continue to evaluate opportunities
going forward and reduces listing costs significantly. Other than
adding ".H" to Mitec's listing symbol, there are no other changes
relating to Mitec's transition to the NEX market.
As previously announced, Mitec applied to voluntarily delist its common
shares for trading on the Toronto Stock Exchange, which will occur at
the close of business on June 7, 2012.
Mitec has also determined that it is in its best interests at this time
to reduce its Board of Directors from five members to three, and has
accepted the resignations of Hubert Marleau and Robert Boisjoli. "Both
Mr. Marleau and Mr. Boisjoli have assisted Mitec in successfully
resolving significant challenges that have faced the company over these
many years and we thank them for the valuable contributions they have
made", commented Jeffrey Mandel, President and CEO of Mitec.
About Mitec Telecom Inc.
Mitec is a leading designer and provider of radio frequency (RF)
products for the telecommunications industry. Mitec sells its products
worldwide to network providers for incorporation into high-performing
wireless networks used in voice and data/internet communications. Mitec
is located in Montreal, Canada. Mitec is listed on the Toronto Stock
Exchange under the symbol MTM. On-line information about Mitec is
available at www.mitectelecom.com.
Certain statements in this release, including statements regarding
future results and performance, are forward-looking statements based on
current expectations. The accuracy of such statements is subject to a
number of risks, uncertainties and assumptions that may cause actual
results to differ materially from those projected, including, but not
limited to, the effect of general economic conditions, decreases in
demand for Mitec's products, fluctuations in selling prices and adverse
changes in general market and industry conditions and other factors
listed in Mitec's public filings with the appropriate securities
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE MITEC TELECOM INC.
For further information:
Source: Mitec Telecom Inc.
Mr. Jeffrey Mandel
President, CEO and Chairman, Mitec Telecom Inc.
Tel.: (514) 694-9000