AireSurf Networks Holdings Inc.
CNQ : AIRE

AireSurf Networks Holdings Inc.

March 15, 2005 10:04 ET

AireSurf Networks Holdings Inc.: Press Release


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: AIRESURF NETWORKS HOLDINGS INC.

CNQ SYMBOL: AIRE

MARCH 15, 2005 - 10:04 ET

AireSurf Networks Holdings Inc.: Press Release

AURORA, ONTARIO--(CCNMatthews - March 15, 2005) - AireSurf Networks
Holdings Inc. (CNQ:AIRE) is pleased to provide an update on the status
of the Company.

Fox Electronic Technologies Ltd. of Holland Landing, Ontario is
currently completing the tooling process for the Company's AireSurf IP,
wireless booster product.

The Company expects the tooling process to be completed by the end of
March, 2005. Once completed Fox Electronics will apply for FCC
certification of the product which is anticipated in April or May of
2005. Upon receipt of FCC certification the Company can commence
production and sale of its AireSurf IP.

In February 2005 the Company completed the first tranch of a private
placement, issuing 500,000 Units of the Company for gross proceeds of
$50,000. Each Unit is comprised of one share and one common share
purchase warrant. Each warrant entitles the holder thereof to acquire an
additional common share at a price of $0.15 for a period of two years
from the date of issue. The proceeds of the private placement will be
used for general working capital purposes. The Company is attempting to
raise a further $100,000 on the same terms.

Shares Outstanding: 24,271,328

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    AireSurf Networks Holdings Inc.
    Peter Gee
    Chief Financial Officer
    (905) 707-3445 ext 119
    invest@airesurf.com