RANCHO MIRAGE, CA, Sept. 24, 2012 /CNW/ - Craig Wireless Systems Ltd. ("Craig Wireless" or the "Company") (TSX: CWG) announces today it has increased its 51% interest in Woosh
Wireless Holdings Limited ("WWHL"), the parent company of Woosh Wireless (NZ) Limited ("Woosh"), to 75% pursuant to the acquisition of additional equity of WWHL from
"We are pleased to have increased our equity stake in Woosh Wireless
Holdings Limited as we continue to support and develop our business
presence in New Zealand," said T. Boyd Craig, the Chief Executive
Officer of Craig Wireless.
About Craig Wireless Systems Ltd.
Craig Wireless and its affiliates (collectively, the "CWS Group") offer a broad range of telecommunications services, including,
broadband internet access, 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 2.3 GHz, 2.5 GHz, 2.6 GHz or 3.5 GHz bands in Riverside County in
Southern California, United States, New Zealand and in Greece. The CWS
Group also has spectrum interests in Norway. Spectrum in these ranges
is effective for delivery of point-to-multipoint signals, possesses
robust bandwidth capability and supports emerging 4G-based services and
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. Not to limit
the generality of the foregoing, the forward-looking information set
forth in this news release is subject to various risks and other
factors including the following: the risks of conducting business in a
foreign country, and currency fluctuations. 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.
SOURCE: Craig Wireless Systems Ltd.
For further information:
Boyd Craig, Chief Executive Officer, Craig Wireless Systems Ltd., email: email@example.com.