OTTAWA, April 21 /CNW/ - Ramtelecom Inc. (the "Corporation"; TSX Venture
- RTC) announced it has received majority shareholder approval to proceed with
the sale of its operating subsidiary, R.A. Misener Telecom Corporation, which
represents substantially all of the assets of the Corporation, to OmniGlobe
Networks Inc. ("OmniGlobe") for $2,400,000. Further, it has entered into a
definitive Share Purchase Agreement with OmniGlobe to complete the acquisition
with closing no later than May 19, 2009. The Share Purchase Agreement will be
available for viewing at www.sedar.com. The Corporation will pay all expenses
related to the transaction and any short-term debt owing by R.A. Misener
Telecom Corporation from the gross proceeds of the sale.
About Ramtelecom Inc.
The Corporation is a satellite service provider delivering flexible,
scalable solutions for broadband data and voice business communications. The
Corporation's fixed and mobile satellite-based communication services and
value-add solutions are designed for medium and large enterprises in oil and
gas, mining and forestry and government agencies. With global resources, the
Corporation's satellite broadband services help organizations achieve greater
operational efficiency by providing continuous real-time communications
between central offices and remote locations.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Ramtelecom Inc., R. A. (Ralph) Misener,
President and Chief Executive Officer, (613) 747-1836 Ext. 125, Email: