Phonetime Inc.

Phonetime Inc.

January 04, 2007 15:20 ET

Phonetime Issues Stock Options to Senior Management

MISSISSAUGA, ONTARIO--(CCNMatthews - Jan. 4, 2007) - Phonetime Inc. (TSX VENTURE:PHD), a leading Canadian supplier of long distance telecommunications services, today announced that it has granted an aggregate of 2 million stock option to certain directors and senior officers. The options are exercisable at any time until December 7, 2011, at a price of $0.432 per common share.


Licensed as a Class A, International Carrier by the CRTC, Phonetime operates one of Canada's largest and most advanced private long-distance and VoIP telecommunications networks with points-of-presence in 40 major Canadian urban areas. Phonetime's wholesale network currently has the capacity to process over 8 billion minutes of traffic and has emerged as a cost effective wholesale backbone for VoIP service providers, including ILECs, CLECs, PTTs, and IPLECs world-wide. Phonetime offers wholesale origination and termination services to carriers worldwide.

Phonetime also markets its own competitively priced, branded calling cards (including Nuvo, Bravo, Lucky 888, Eureka, Hot and Call Value) across the country. These are distributed to consumer markets from more than 4,000 retail outlets, including Petro-Canada, Shell Canada, and Business Depot/Staples as well as through many Private Label distributors. With offices in Toronto, Montreal and Vancouver, Phonetime provides retail customers with multi-lingual customer service - an important competitive advantage.

Phonetime's Call Select subsidiary provides 1+ Equal Access and Dial Around long distance services to ethnic markets across Canada. Since its establishment, it has enabled Phonetime to deliver a range of new services in the relatively higher margin residential subscription market.

Note: This news release contains forward-looking information. Actual future results may differ materially. All figures are in Canadian dollars except as noted otherwise. The risks, uncertainties, and other factors that could influence actual results are described in the Company's annual report to shareholders.

The TSX Venture Exchange has neither approved nor disapproved the contents of the press release.

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