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Cell Wireless Corp (fka CLWL) RSS Feed

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Cell Wireless Announces the Signing of a Merger/Acquisition Contract Business Wire "US Press Releases " TUCSON, Ariz.--(BUSINESS WIRE)-- Cell Wireless Corporation (Pink Sheets:CLWL) announced today they have signed a contract to be purchased by nationally recognized media company, U.S. Media Team (USMT), based in Scottsdale, Arizona. The acquisition agreement calls for the purchase of 80% of Cell Wireless Corporation (CLWL) and the aggressive expansion of Cell Wireless in the United States. Cell Wireless will continue its subsidiary International Operations with an emphasis on equipment sales, services and state of the art software programs. The merger/acquisition will create over $10.5 million in new assets on CLWL's balance sheet. CEO of Cell Wireless Corporation, Mr. John Bohringer, said, "USMT will expand CLWL into the United States with a diverse marketing plan like no other cellular company. USMT will facilitate CLWL's market penetration by introducing and promoting the new merged company's additional products and services to millions of U.S. consumers. USMT has an in-house database of 31.5 million opted in consumers and marketing agreements with web sites and portals with combined hits of 1.6 billion per month." Mr. John Bohringer further stated, "This is the most significant advancement that CLWL has achieved for both the Company and its shareholders since its inception. The decision by Cell Wireless to affect this merger/acquisition was primarily due to the explosion in the cellular arena and the endless opportunities to interface Internet and cellular capabilities. The cellular arena has grown to a record number of users over the past few years and will continue to evolve and expand with a greater number of users each year." Mr. Joseph Cosenza, the President/CEO of USMT, will assume the position of CEO/Chairman of CLWL. Mr. Rocklin Duffy will become President of CLWL. Mr. Steven Harper will become the Vice President of Marketing. Mr. Bohringer will continue as President of International Operations, Sales and Licensing in order to expand the Company's global exposure and introduce CLWL's newly expanded products, equipment sales, software programs and services to our international customers. Mr. David Shorey will continue as CLWL's Chief Financial Officer. Mr. Shorey stated, "My number one priority under the Company's new merger structure is to get the company trading on the NASDAQ Bulletin Board immediately with the ultimate goal of moving to the NASDAQ Small Cap Exchange in fiscal year 2008." Mr. Cosenza summed up his vision for the merged companies as follows: "USMT is proud to be a part of the Cell Wireless merger and acquisition. USMT will drive millions of consumers to www.cellwireless.com and create a one stop shop for cellular solutions. The portal will set us apart from our competition and position CLWL as the leader in equipment, cellular downloads and advertising via the cell. The United States is prime territory for expansion of Cellular Solutions, the fastest growing media in the world." Mr. Cosenza further explained that he believes "Cell Wireless will become one of the fastest growing web sites in the United States with international expansion beginning within 30 days. Equipment and content solutions will establish Cell Wireless as one of the top innovators in the industry. The Corporate Board and sales staff will be in place for our September 1, 2007 launch. Cell Wireless will become a household name in the U.S. and will continue to grow at an explosive pace over the next twelve months. Cell Wireless is an ideal fit for USMT. The cellular arena is exploding in the U.S. and this strategic merger/acquisition will enable us to expand for many years to come." Safe Harbor Statement Note: Certain statements in this news release may contain "forward-looking" information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than the statements of fact, included in this release may include forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. CLWL undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments. Source: Cell Wireless Corporation
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