WINNIPEG, Dec. 18 /CNW/ - Further to its previous announcement of
November 14, 2007, announcing the acquisition of spectrum rights in Norway,
Craig Wireless Systems Ltd. ("Craig Wireless") (TSX: CWG), is pleased to
announce that it has won an auction for a total of 40 MHz of spectrum, in two
separate lots, in the 2500-2520 and 2620-2640 MHz bands (collectively, the
"Spectrum") for New Zealand. The auction for the spectrum management rights in
New Zealand was held by the New Zealand Ministry of Economic Development
commencing on December 11, 2007 and terminating with Craig Wireless as the
winning bidder for the Spectrum on December 17, 2007. Craig Wireless' winning
bid for the spectrum management rights and the right to use the Spectrum (the
"Spectrum License") was 1,055,000 New Zealand Dollars, which is the equivalent
of approximately CDN$800,000.
"I am extremely pleased with the acquisition of national spectrum rights
in both Norway and New Zealand and look forward to the opportunities that the
acquisition creates for the company," declared Boyd Craig, Chief Executive
Officer of Craig Wireless, who has previous experience in the
telecommunications industry in New Zealand.
The rights under the Spectrum License will commence in 2009 and contain
certain network build-out requirements.
About Craig Wireless Systems Ltd.
Craig Wireless Systems and its affiliates (collectively, the "CWS Group")
offer a broad range of telecommunications services, including, broadband
Internet access, television programming delivery, 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 2.5 GHz, 2.6 GHz or 3.5 GHz bands in Manitoba, British Columbia, the
Coachella Valley region, California, United States, Greece, Norway and now New
Zealand. Spectrum in these ranges is effective for delivery of
point-to-multipoint signals, possesses robust bandwidth capability and
supports emerging WiMAX-based applications, including portable and mobile
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. 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.
For further information:
For further information: J. Drew Craig, Executive Chairman, Craig
Wireless Systems Ltd., Tel: (416) 515-2222 ext. 2, email: