TORONTO, April 27 /CNW/ - Tri-Vision International Ltd (TSX:TVL) today
announced that, by mutual agreement with Wi-LAN, further to its Letter of
Intent dated March 26th, Tri-Vision and Wi-LAN have agreed to extend the
exclusivity period contained in the Letter of Intent from April 27, 2007 to
the period ending on the earlier of:
(i) May 11, 2007 or
(ii) the date of signing of the Acquisition Agreement but no later than
May 11, 2007
The extension allows both parties to complete due diligence and finalize
the Acquisition Agreement.
Tri-Vision also announced today that Terry Canning has resigned as a
Director of the Company. Mr. Canning is the Vice President, Strategic Planning
of Rogers Communications Inc. and cited conflicts of interest in connection
with his continued service on the Board and on the Special Committee formed to
consider the recently announced business combination with Wi-LAN Inc.
Tri-Vision wishes to thank Mr. Canning for his significant contribution to the
board during his 2 1/2 years of service.
Tri-Vision International Ltd/Ltée is a public company founded in 1986.
Shares of the Company trade on Canada's Toronto Stock Exchange (TSX) under the
symbol TVL. Tri-Vision operates two wholly-owned subsidiaries: Tri-Vision
Electronics Inc. and Think Broadband Solutions Inc.
Tri-Vision Electronics Inc. - Licenses V-chip globally and owns the
sole rights to U.S. V-chip Patent No. 5,828,402 and Canadian V-chip
Patent No. 2,179,474 and 2,342,045. This subsidiary also markets Data
Video Distribution Systems, Secure Pay TV, Addressable Pay TV (pay
per view), Hotel Pay TV and Cable TV equipment worldwide.
Think Broadband Solutions Inc. - Authorized Canadian Distributor to
Canada's broadband industry for Scientific Atlanta, PCT North
America, Andrew Corp. and Conax. The division specializes in digital
video system design and integration, in-country equipment sales and
supply, logistical support, niche product design and development, in-
house and offshore manufacturing capabilities.
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To find out more about Tri-Vision International Ltd. (TSX: TVL), visit our
website at www.tri-vision.ca