WINNIPEG, Nov. 14 /CNW/ - Craig Wireless Systems Ltd. ("Craig Wireless")
(TSX: CWG), is pleased to announce that it has won an auction for 50 MHz of
2500-2690 GHz spectrum (the "Spectrum") for Norway pursuant to the Norwegian
Post and Telecommunications Authority Competitive Auction Selection Procedure
that commenced on November 5, 2007 and terminated with Craig Wireless as the
winning bidder for the Spectrum on November 13, 2007. Craig Wireless' winning
bid for the license to use the Spectrum (the "Spectrum License") was
72,391,000 Norwegian Kroners, which is the equivalent of approximately
CDN $12.7 million.
The Spectrum License is technology and service neutral, is tradable and
will be valid until December 2022. There are no direct requirements for
roll-out or coverage attached to the Spectrum License.
Craig Wireless plans to install and operate a national WiMAX network in
Norway using the Spectrum. The country of Norway is approximately 323,758
square kilometers and has a population of approximately 4,620,000.
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 and now Norway.
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 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. 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: