VANCOUVER, Dec. 6, 2012 /CNW/ - Further to its November 26, 2012 press release, Radiant Communications Corp. ("Radiant") (TSX-V:RCN), a leading provider of managed network and cloud hosting solutions for medium-size ), today announced that the Company has withdrawn its intention to conduct a substantial issuer bid to repurchase for cancellation up to C$2 million of its common shares at C$0.70 per share (the "Offer"). The board of directors considered current market conditions and recent trading activity in the Company's shares, and it determined that proceeding with the Offer at this time would not be in the best interest of shareholders.
Radiant Communications is a leading provider of managed network and cloud hosting solutions for medium-size enterprises. Leveraging one of the largest Internet footprints across Canada, Radiant offers a comprehensive portfolio of reliable, secure and scalable IT infrastructure services, simplified under a single point of contact. For over 15 years, many of Canada's most recognized brand names have been relying on Radiant to support their mission-critical business operations.
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This press release may contain forward-looking statements, including statements regarding the business and anticipated financial performance of Radiant, which involve risks and uncertainties. These risks and uncertainties may cause Radiant's actual results to differ materially from those contemplated by the forward-looking statements. Factors that might cause or contribute to such differences include, among others, competitive pressures, the growth rate of the Internet and telecommunications concerns, constantly changing technology and market acceptance of Radiant's products and services. Investors are also directed to consider the other risks and uncertainties discussed in Radiant's required financial statements and filings. All other companies and products listed herein may be trademarks or registered trademarks of their respective holders.
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SOURCE: Radiant Communications Corp.
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