Wireless Age Communications, Inc.
OTC Bulletin Board : WLSA

Wireless Age Communications, Inc.

October 22, 2007 10:06 ET

Wireless Age to Acquire Selkirk MTS Connect Retail Operation

TORONTO, ONTARIO--(Marketwire - Oct. 22, 2007) - Wireless Age Communications, Inc. (OTCBB:WLSA) is pleased to announce that the Company's subsidiary, Wireless Age Communications, Ltd., based in Regina, Saskatchewan, intends to acquire G.L. Enns Electronics which operates an MTS Connect wireless communications retail store in Selkirk, Manitoba.

The Selkirk retail store is conveniently located in a key retail location and is the only MTS Connect dealer location in the city. Wireless Age expects to close the transaction and assume control over operations of the location on November 1, 2007. Closing is subject to the approval of various parties including MTS Allstream.

Allen Cowie, Wireless Age Communications, Ltd. President stated, "I'm delighted to be able to add the Selkirk location to our Manitoba footprint. Selkirk is a thriving community located just minutes North of Winnipeg. This location is very strategic for our company and we expect it to be a strong contributor to our growing Manitoba operations. It will enhance our ability to service both business and residential customers in the region, on behalf of our partner MTS Allstream."

John G. Simmonds, CEO stated, "There are plenty of accretive acquisition opportunities available at the moment and we intend on maximizing share value by completing as many of these acquisitions as we can from current cash flow, which is tracking at record levels."

About Wireless Age Communications Inc.

Wireless Age's operations are segregated into two distinct operating segments, Retail and Commercial.

Retail:

Wireless Age retail outlets sell next generation wireless products and services to business and individual end users in Saskatchewan and Manitoba.

Commercial:

Within the Commercial segment Wireless Source distributes prepaid phone cards, wireless accessories, land mobile radios and ancillary electronics products to dealers throughout North America.

Note: This press release contains "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on currently available competitive, financial and economic data and management's views and assumptions regarding future events. Such forward-looking statements are inherently uncertain. Wireless Age Communications, Inc. cannot provide assurances that the matters described in this press release will be successfully completed or that the company will realize the anticipated benefits of any transaction. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to: global economic and market conditions; the war on terrorism and the potential for war or other hostilities in other parts of the world; the availability of financing and lines of credit; successful integration of acquired or merged businesses; changes in interest rates; management's ability to forecast revenues and control expenses, especially on a quarterly basis; unexpected decline in revenues without a corresponding and timely slowdown in expense growth; the company's ability to retain key management and employees; intense competition and the company's ability to meet demand at competitive prices and to continue to introduce new products and new versions of existing products that keep pace with technological developments, satisfy increasingly sophisticated customer requirements and achieve market acceptance; relationships with significant suppliers and customers; as well as other risks and uncertainties, including but not limited to those detailed from time to time in Wireless Age Communications, Inc. SEC filings. Wireless Age Communications, Inc. undertakes no obligation to update information contained in this release. For further information regarding risks and uncertainties associated with Wireless Age Communications, Inc.'s business, please refer to the risks and uncertainties detailed from time to time in Wireless Age Communications, Inc.'s SEC filings.

Contact Information

  • Wireless Age Communications, Inc.
    John G. Simmonds
    Chairman & CEO
    (905) 833-9845 ext. 223