TORONTO, July 10, 2013 /CNW/ - Data & Audio-Visual Enterprises Holdings
Inc. and its affiliates (collectively, Mobilicity) announced today that it has adjourned the debtholder vote on the
previously announced recapitalization plan. Consistent with the pursuit
of all of its strategic alternatives, the Company has the right to
reconvene the recapitalization plan vote on notice to its debtholders.
Mobilicity also announced today that it is in discussions with multiple
parties in connection with an acquisition plan of arrangement.
Stewart Lyons, Mobilicity's President and COO said, "We are working
diligently to reach an acquisition agreement and thank our customers,
dealers, employees and partners for their continued support as we see
this process through to its completion."
Mobilicity will continue to provide updates as warranted. For more
information, please visit www.mobilicity.ca/investorrelations.
About Mobilicity (DAVE Wireless):
Mobilicity, Canada's smart mobile carrier, was created to bring down the
cost of wireless with unlimited talk, text and data plans, affordable
North American coverage, plus popular handsets and smartphones -
without locking customers into contracts or charging extra or hidden
fees. Everything Mobilicity does adds up to a better wireless
experience, not an expensive one. NOW THAT'S SMART.
Formerly known as Data & Audio-Visual Enterprises Wireless Inc. (DAVE
Wireless), the company is led by Obelysk, a diversified Canadian
holding company, and Quadrangle Capital Partners, a global investor in
the telecommunications and media sectors. Mobilicity was named one of
Canada's Top 25 Up and Coming Information & Communication Technology
start-ups in 2010 by the Branham Group Inc. Further information about
Mobilicity can be found at www.mobilicity.ca.
For further information:
Sheryl Steinberg, Mobilicity, email@example.com, 647-707-7377
Joel Shaffer, Longview Communications at 416-649-8006