SOURCE: InZon Corporation

October 01, 2007 08:30 ET

InZon Closes Australasia Telecom Acquisition

DELRAY BEACH, FL--(Marketwire - October 1, 2007) - InZon Corporation (OTCBB: IZON) today announced that the Company and its subsidiary, InZon Wireless, Inc., have consummated the previously announced transaction to purchase 50% of the equity of South Pacific Management Holdings Inc., a holding company for a development stage independent provider of wireless services in a targeted Pacific Rim jurisdiction. The acquisition was closed with newly issued shares of InZon's common stock.

"This acquisition will extend our infrastructure further onto the world stage, and we believe the investment will begin creating significant value for the Company over the next several months," stated David Levy, Chairman of InZon. "We believe this is an excellent use of capital for our stockholders, as we build a category of service in our Wireless Division that exploits a significant global opportunity."

Commenting on the transaction, Trip Camper, the Company's new CEO, said, "I am very excited for the opportunity to utilize my extensive experience and contacts in the cellular market to assemble a seasoned management team and implement a rapid deployment infrastructure. I believe there are many great opportunities that we can develop together."

About InZon

InZon is a Global Communications Company utilizing its own modern hybrid worldwide VoIP/TDM network and proprietary control systems for both voice and data traffic for a wide range of telecommunication services.

InZon acquired a major stake in Fiji Cell, a cellular carrier organized to provide nationwide cellular telecommunications and Internet Access Bandwidth Services. This brings InZon into the category of major carriers like T-Mobile, AT&T, British Telecom, Virgin and others. InZon and Fiji Cell expect to have the first towers in operation within the next four months as part of an overall 130 tower build-out in the South Pacific Region. This acquisition will extend InZon's infrastructure further onto the world stage and will begin creating significant additional value for the Company. This strategic acquisition is one of the first of a targeted number in the Southern Hemisphere.

InZon's software application group, SAE, owns a unique group of proprietary Operations Control Support Software (OCSS) that has been licensed to an impressive range of clients from the broadcast, telecom, media, satellite and other industries, such as NBC, CBS, Hughes Television Network, British Telecom, PanAmSat, CIGNA and many others. In addition, InZon's VeriCash Division is developing systems for Stored Value/Mobile Wallet payment technologies designed to allow users to send money from their cell phone and acts as a Virtual Point of Sale device via secure modes in most countries in the world.

InZon's WorldHub Exchange (WorldHubX) subsidiary is tasked to provide neutral centralized switching facilities and exchange services that will offer neutral interconnectivity options, providing significant economies of scale to the global telecom industry in a join venture with NewCom International (www.newcom-intl.com), provides the latest technology in satellite, telecommunications and disaster recovery facilities services to a diverse array on international clients utilizing their unparalleled management and engineering staff from strategically located collocation facilities, ensuring a one-stop solution for all global communication needs.

Cautionary Note Regarding Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. This release or any other written or oral statements made by or on behalf of InZon and its subsidiaries may include forward-looking statements which reflect the Company's current views with respect to future events and financial performance. Forward-looking statements involve the Company's current assessment of risks and uncertainties, which may cause actual events and results and prospects to differ materially from those expressed or implied in these statements. Certain information regarding such risks and uncertainties is set forth in the Company's filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact Information

  • For further information contact:
    ir@inzon.com

    Sydney "Trip" Camper III
    CEO
    561-279-8200

    David Levy
    COB
    561-279-8200

    Richard Dea
    CFO
    561-279-8200

    www.inzon.com