Wireless Age Communications, Inc.
PINK SHEETS : WLSA

Wireless Age Communications, Inc.

July 13, 2010 08:54 ET

Newlook Reduces Ownership Interest in Wireless Age

TORONTO, ONTARIO--(Marketwire - July 13, 2010) - Wireless Age Communications, Inc. (PINK SHEETS:WLSA), ("Wireless Age" or "the Company") and Newlook Industries Corp. (TSX VENTURE:NLI) today announced that it has completed the sale of 8M shares of Wireless Age Communications, Inc. owned by Newlook Industries Corp. 

John Simmonds & family acquired 6M shares at US $0.05 per share, 1M shares were issued as part of the consideration for the methane gas power generation plant in Quebec and 1M shares were issued for debt settlement.

Upon completion of the sale, Newlook's ownership of Wireless Age will be reduced to approximately 20%.

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
    905-833-2753 ext. 223