TORONTO, July 2 /CNW/ - Redline Communications Group Inc. (the "Company") announced that the Ontario Securities Commission ("OSC") and the Autorité Des Marchés Financiers ("AMF") issued partial revocation orders (the "Partial Revocation Orders") in connection with cease trade orders issued by each of the OSC and AMF on June 11, 2010 such that the Company can proceed with a financing. Terms of a potential financing have not yet been determined and the Company cannot confirm that a financing will be successfully negotiated.
The issuance of the Partial Revocation Orders does not guarantee the issuance of a full revocation order in the future.
About Redline Communications
Redline Communications (www.redlinecommunications.com) is a leading provider of advanced wireless broadband products with more than 150,000 installations in 130 countries, and a global network of over 150 partners. Redline's experience and expertise helps service providers, enterprises and government organizations roll out wireless broadband networks to cost-effectively deliver high-bandwidth services, including video, voice and data communications. Redline award-winning infrastructure products include The AN80i and RDL 2000, which support its continued commitment to maintaining its wireless industry leadership with the development advanced products.
Forward Looking Statements
Certain statements in this release, including the Company's intention to file the Disclosure Documents, constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws and are made pursuant to the "safe harbour" provisions of such laws. Readers are cautioned not to place undue reliance on such statement. Unless otherwise required by applicable securities laws, Redline assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Redline Communications Group Inc.
For further information: For further information: Craig Armitage, Equicom, Tel: (416) 815-0700