AireSurf Networks Holdings Inc.
CNQ : AIRE

AireSurf Networks Holdings Inc.

October 26, 2007 15:47 ET

AireSurf Announces Representation Agreement

TORONTO, ONTARIO--(Marketwire - Oct. 26, 2007) - AireSurf Networks Holdings Inc. (the "Company") (CNQ:AIRE) is pleased to announce that it has entered into an agreement with Invotex Group ("Invotex") for the sale, licensing and commercialization of its wireless booster products. In consideration for acting as the Company's exclusive representative, Invotex will be paid 12% of the gross revenues received from the first contract and will be reimbursed for all of its expenses relating to the agreement. The term of the agreement is for one year.

Invotex provides accounting and financial consulting services to the business and legal communities, financial institutions, insurance companies and governmental entities in matters involving disputes, investigations, reorganizations, insurance and valuations. Invotex also offers advisory services for intellectual property owners, including licensing, technology evaluation and license compliance, asset management and enforcement of intellectual property rights. The firm, headquartered in Baltimore, Maryland, also has offices in Philadelphia, Pennsylvania and Washington, D.C. For more information about Invotex, please visit its website at www.invotex.com.

The Company also wishes to announce that the FCC has provided verbal approval for its wireless booster products for North America and Europe. The Company expects to receive written confirmation within the next two to three weeks.

Robert Dickie has been appointed to the Company's board of directors. Mr. Dickie is the President and founder of Spark Innovations Inc., created in 1989, following 20 years of new product innovation and business management. Mr. Dickie began his career in Montreal as a computer peripheral technician for General Electric, rising to Service Manager for Quebec and the Maritimes. In 1992, Mr. Dickie won the prestigious Manning Award for Innovation, and in 1995, he won the Canadian Entrepreneur of the Year Award.

The Company has granted 550,000 options to purchase common shares of the Company exercisable at a price of $0.10 per share for a period of five years to a director and consultant of the Company. The common shares issuable upon exercise of the options are subject to a four month hold period from the original date of grant.

Shares Outstanding: 37,705,806

Contact Information

  • AireSurf Networks Holdings Inc.
    Mr. Robert McGowan
    President
    (416) 368-9411
    (416) 861-0749 (FAX)