SOURCE: China Wi-Max Communications

China Wi-Max Communications

January 19, 2011 08:00 ET

Unilava to Share Funding and Resources With CHWM

GRAFTON, WI and BEIJING--(Marketwire - January 19, 2011) - Wi-Max Communications, Inc. (OTCBB: CHWM), a leader in high speed broadband access in China, announced today that Unilava Corporation has agreed to identify funding sources to support CHWM's long term engineering and capital needs for their joint venture in China pursuant to a letter of intent between the companies. 

CHWM has invested over $4M in developing fiber and wireless services in China. With Unilava's expected funding support, CHWM and the joint venture will be targeting markets of over $60M USD in Beijing, Shanghai, and Shenzhen.

This arrangement follows a previous announcement between CHWM and Unilava's affiliates in China. That LOI announcement covered (a) the joint development, acquisition, and marketing of products and services, and (b) the sharing of resources, including fiber and wireless networks, data centers, and office space. This newly announced arrangement is expected to provide CHWM with strategic funding for development of the ten largest markets in China. 

CHWM's President and CEO Steven Berman stated that "our letter of intent with Unilava will allow CHWM to further develop our existing fiber and wireless assets through strategic alliances and joint venturing. We are excited about the upside opportunities this new relationship will provide to our company." CHWM Executive Vice President Eric Hager added: "We are very pleased to obtain Unilava's commitment to start developing our assets in China." 

About China Wi-Max Communications, Inc.

China Wi-Max Communications, Inc. (OTCBB: CHWM) is a multinational telecommunications and IP transport company formed to take advantage of the rapidly expanding wireless and broadband communications needs in China and elsewhere. The goal of CHWM is to become the premier provider of broadband technology and allied services in the Chinese market and beyond. Building on technical experience and proven management skills, CHWM is approaching its markets with the tools and experience necessary to achieve success. CHWM has acquired fiber assets in Beijing and Hangzhou, as well as option agreements to purchase fiber in Shanghai and seven additional cities in China. CWHM has also acquired 5.8 GHz wireless frequencies. The Company's common stock is listed on the OTC Bulletin Board under the symbol "CHWM." For additional information, please visit the Company's website at www.chinawi-max.com.

About Unilava Corporation

Unilava Corporation (OTCBB: UNLA) has developed or acquired diversified communication services delivering affordable unlimited service plans for mobile cellular service, hosted VOIP and broadband internet. The company is also licensed to provide long distance services in 41 states and local phone services in 11 states. In addition, UNLA builds and operates software solutions for enterprise social networking, local business listings and marketing tools that utilize video chat, video email, e-fax, VOIP, and conference calling. Unilava is headquartered in San Francisco with regional offices in Chicago, Hong Kong and Seoul.

'Safe Harbor Statement'

This press release contains forward-looking statements that involve risks and uncertainties. Actual results, events and performances could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause the Company's actual results, expressed or implied, to differ materially from expected results. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making an investment decision.

Contact Information

  • For Investment Information regarding China Wi-Max Communications, Inc. (CHWM), please contact:

    Eric Hager
    Executive Vice President
    China Wi-Max Communications, Inc.
    800-830-1978 ext 908
    Email Contact