AireSurf Networks Holdings Inc.

AireSurf Networks Holdings Inc.

November 20, 2014 10:41 ET

AireSurf Reports Significant Shareholding

TORONTO, ONTARIO--(Marketwired - Nov. 20, 2014) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

AireSurf Networks Holdings Inc. ("AireSurf") announces that it has acquired ownership and control of 1,000,000 common shares ("Coltrane Shares") of Coltrane Technologies Inc. ("Coltrane") in connection with the completion of a plan of arrangement involving AireSurf and Coltrane (the "Arrangement").

Prior to this transaction, AireSurf owned and controlled an aggregate of 10,000 Coltrane Shares. Following completion of the Arrangement, the direct share ownership of AireSurf is 1,010,000 Coltrane Shares representing approximately 99% of the issued and outstanding Coltrane Shares.

AireSurf acquired the above-noted shares of the Company for investment purposes and it may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over the Coltrane shares or other securities of Coltrane, through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise.

A copy of the Early Warning Report filed under applicable Canadian provincial securities legislation in connection with AireSurf's shareholdings in Coltrane may be found at www.sedar.com under Coltrane's profile.

Contact Information

  • Airesurf Networks Holdings Inc.
    Mr. Chris Irwin
    (416) 361-2516