MONTREAL, Nov. 7 /CNW Telbec/ - BlueTree Wireless Data Inc. (TSXV:BTW), a
leading developer and manufacturer of rugged wireless modems announced today
that following the recent approval at a special meeting of the shareholders of
BlueTree and BlueTree's receipt of a final order from the Superior Court of
Quebec, that the previously announced Plan of Arrangement has been completed
and that all of BlueTree's outstanding securities have been acquired by
6826369 Canada Inc., a subsidiary of Sixnet Holdings, LLC. Under the terms of
the Plan of Arrangement, each securityholder is entitled to receive the
consideration detailed in respect thereto in the management proxy circular of
BlueTree dated September 21, 2007.
"This is a historic milestone for BlueTree" said Michael Ramsay,
President of BlueTree. "On behalf of the Board of Directors, I want to thank
our securityholders, customers, employees and partners for their continued
support over the years and I know that Sixnet and its securityholders share
our commitment to build on the foundation created by BlueTree".
With the completion of the Plan of Arrangement, BlueTree's common shares
will cease to be listed for trading on the TSX Venture Exchange.
About BlueTree Wireless Data Inc. (BTW):
BlueTree Wireless Data Inc. is a leading developer and manufacturer of
wireless modems and software solutions for commercial and industrial
applications. BlueTree Wireless's modems are designed to operate on cellular
networks worldwide enabling M2M applications in the Public Safety, Fleet
Management, Field Service, SCADA and Telemetry markets. BlueTree Wireless is
publicly traded on the Canadian (TSX) Venture Exchange. Please visit
www.bluetreewireless.com for more information.
About Sixnet Holdings, LLC:
Sixnet is a leading manufacturer of process automation, Ethernet
connectivity and PSTN (landline) modem products used in harsh industrial,
commercial and military applications. Sixnet is privately held with equity
participation by American Capital Strategies of Bethesda, MD. and Riverside
Partners of Boston, MA. Sixnet is located in Clifton Park, N.Y.
Forward Looking Statements
Certain statements in this press release are intended as "forward looking
statements". These statements include assumptions, expectations, predictions,
intentions or beliefs about future events. Actual future results may vary
materially from those expected or implied in any forward looking statements.
Some of the key factors that could cause actual results to vary from those
expressed or implied include the satisfaction of conditions precedent to the
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: For BlueTree Wireless Data Inc.: Jeff Speak,
Chief Financial Officer, (514) 422-3334, firstname.lastname@example.org; For
Sixnet Holdings, LLC.: Steve Schoenberg, Chief Executive Officer, (518)