TORONTO--(Marketwire - Feb 15, 2013) - Wi2Wi Corporation ("Wi2Wi" or the "Company") (TSX VENTURE: YTY) recently announced the completion of its Plan of Arrangement ("Arrangement" or "Amalgamation") between Wi2Wi and International Sovereign Energy Corp ("ISE"). The Arrangement received final Court approval on January 8, 2013 and final TSXV approval on February 4, 2013. The shares commenced trading on February 5, 2013. Dr. Hans P. Black, Chairman of Wi2Wi stated: "We are very pleased that the Plan of Arrangement merging the operation of Wi2Wi with ISE has now been completed."
The newly combined company Wi2Wi Corporation designs advanced SIPs (System in Packages) as a way to marry WiFi and other communication abilities such as GPS and Bluetooth on a single platform. Wi2Wi considers itself in the midst of the Machine to Machine (M2M) revolution. The company provides a series of advanced products whereby information is automatically relayed from one machine to another or another system with very limited human interaction, thus improving the speed of being reactive to the information being monitored. These changes are beginning to affect all aspects of the lives of citizens throughout the globe be it at the medical interface level, such as medical monitoring devices, or through smart home technology, such as smart metering and home monitoring, as well as a variety of automotive, aerospace and defense applications.
"Wireless connectivity is an essential part of the M2M revolution as reflected in our Fortune-500 and market leading customer engagements incorporating Wi2WI solutions," Wi2Wi's CEO Dr. Reza Ahy noted. "We have established a solid Foundation for our growth based on new and existing designs in the Industrial, Medical, Government, & Infrastructure markets worldwide for both M2M and portable devices. Wi2Wi is well-positioned in these markets which are expected to grow substantially. Wi2Wi has a very large number of design activities with over 200 potential customers for its 3rd generation products."
The global market is increasing in size and scope and will continue to grow exponentially as solutions are created to keep pace with this demand. The Connected Industrial Devices market is expected to grow substantially. For example, just the Auto Industry Telematics market alone is expected to exceed $17 billion by 2020 [Source SBD 2012]. Wi2Wi's customers in the Industrial market include Fortune-500 companies & leading solution-providers for construction & zoning, Infrared portable devices, Auto-diagnostic tools, commercial vehicles, & corporate fleets worldwide.
Wi2Wi's customers in the infrastructure market include Fortune-500 companies & leading solution-providers for electric-vehicle charge stations, natural-resources networks, smart thermostats, solar panel inverters, and security cameras.
Wi2Wi currently anticipates that it will show strong revenues for 2013. All engineering designs are created inhouse by Wi2Wi's experienced and dedicated engineering staff. Most software development is managed through their efforts as well. The manufacturing process is also managed by Wi2Wi staff to ensure high quality and reliability coupled with an effective supply chain process. It is with great anticipation that Wi2Wi now enters the next phase of its growth. The past years of the Wi2Wi history and the significant new product and development work have placed the Company in a position to take advantage of general growth trends for M2M applications.
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Forward-Looking Statements: This news release contains certain forward-looking statements, including management's assessment of future plans and operations, and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, risks associated with the ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, reliance on industry partners, reliance on third party distributors and sales representatives, protection of intellectual property and proprietary rights, reliance on information technology systems, length of sales cycle, potential defects in products, changes in laws, increased competition, lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rate and stock market volatility. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive there from. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect the Company's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com).
This news release contains "forward-looking statements" within the meaning of applicable securities laws relating to, among other things, certain anticipated financial results, anticipated market growth and potential corporate developments of the Company.. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in Wi2Wi's business, general business, economic and competitive uncertainties.
Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
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