Ellipsiz Communications Ltd.
TSX VENTURE : ECT

December 08, 2015 14:47 ET

Ellipsiz Communications Ltd. Retains Macher Inc. for Corporate Communications Services

TORONTO, ONTARIO--(Marketwired - Dec. 8, 2015) - Ellipsiz Communications Ltd. (formerly NXA Inc.) (TSX VENTURE:ECT) (the "Company") is pleased to announce that it has entered into an agreement with Macher Inc. ("Macher") to provide the Company with corporate communications, investor awareness and, if required, market-making services.

In consideration for the provision of the services, Macher will be paid a fee of $50,000 for a term of 12 month commencing immediately. In addition, Macher has been granted stock options (the "Options") to acquire 150,000 common shares of the Company exercisable at $0.10 per common share for a term of two years. The Options vest over a twelve month period, with twenty-five percent vesting per quarter, commencing on the three month anniversary of issuance.

The services under the agreement will be performed by Mr. Mehdi Azodi, the President and owner of Macher. Mr. Azodi has consulted to a number of private and TSX/NYSE-listed companies, most recently IC Potash and Quest Rare Minerals, providing business consulting, capital markets strategy, market-making and corporate communications services. To the Company's knowledge, Macher and Mr. Azodi currently own less than 1% of the securities in the capital of the Company.

The Company's engagement of Macher is subject to the approval of the TSX Venture Exchange.

About Ellipsiz Communications Ltd.

The Company, through its indirect operating subsidiary, ECTW, focuses on setting up operations support systems ("OSS"), being systems which control and monitor network activities, for many communication service providers, including mobile network providers, fixed line telephone operators, cable operators and internet service providers (ISPs) in Taiwan. ECTW tailors a unique solution for each client depending on its particular needs, which involves setting up, customizing and integrating a combination of third party hardware and OSS software.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Douglas Bolton
    Vice President - Finance
    Ellipsiz Communications Ltd.
    647-343-6936