TORONTO, April 5 /CNW/ - Polar Wireless Corp. (www.polarwireless.com) (OTCBB:BCDI, Frankfurt:62o) is pleased to announce that it has delivered
an initial shipment of 15,000 chip sets for its proprietary mobile
roaming solution pursuant to its previously-announced agreement with SKT-Project for delivery to subscribers in Russia. SKT has been appointed as a
general distributor of Polar Wireless' products, and utilizes an extensive reseller network in Russia and the
former CIS states, including the Ukraine and Kazakhstan. The combined
territories currently represent over 350 million wireless subscribers,
with forecasts showing this figure to exceed 400 million wireless
subscribers in 2014 (IEMR Mobile operator forecast). Under the
agreement, Polar Wireless is expected to ship a total of 50,000 chip
sets to SKT with repeat orders expected to fill SKT's pre sold demand.
"With SKT's extensive distribution and established reputation for
quality, we look forward to forming a strong partnership with SKT and
achieving our mutual objectives. This initial shipment of chip sets is
the first step in that direction," said G. Kelly O'Dea, CEO of Polar
SKT's sales model is to offer the Polar Wireless chip set as a point of
purchase item with prepaid roaming included and which is compatible
with all Russian telcos. Payment for the chip sets may be made through
U Cash Payment Systems and all major credit card options. Replenishment
of a subscriber's Polar Wireless account may also be completed through
the Polar Wireless website using all major credit cards.
About Polar Wireless
The Company is a mobile virtual network operator (MVNO) that works in
conjunction with established major mobile service providers. The
Company's mobile solution will significantly reduce mobile roaming
charges. It is operable in 213 countries through partner
networks. This provides the first global network solution for mobile
users to dramatically reduce roaming surcharges while allowing users to
maintain their current home number, handset and carrier relationship.
Safe Harbor Statement
Except for statements of historical fact contained herein, the
statements in this release are forward-looking and made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act
of 1995 and may involve a number of risks and uncertainties.
Forward-looking statements are based on information available to the
Company's management as of the date hereof, and they involve judgments
and estimates. Forward-looking statements include expressions such as
"believe," "anticipate," "expect," "estimate," "intend," "may," "plan,"
"predict," "will," and similar terms and expressions and include but
are not limited to, the ability of the Company to raise additional
capital to finance its operating activities, the effectiveness,
profitability and marketability of its products, the future trading of
its securities, the ability of the Company to operate as a public
company, the period of time during which its current liquidity will
enable the Company to fund its operations, its ability to protect its
proprietary information, the general economic and business environment
and conditions, the volatility of the operating results and financial
condition of the Company, the ability to attract and retain qualified
senior management personnel and research and development staff of the
Company, and other risks and uncertainties disclosed in the filings of
the Company with the Securities and Exchange Commission.
SOURCE Polar Wireless Corp.
For further information:
Polar Wireless Corp.
G. Kelly O'Dea
Chairman and Chief Executive Officer