Wireless Age Communications Inc.

August 04, 2011 16:00 ET

Wireless Age Communications Acquires OC Communications Group

TORONTO, ONTARIO--(Marketwire - Aug. 4, 2011) - Wireless Age Communications Inc. (PINK SHEETS:WLSA) ("Wireless Age" or "the Company") is pleased to announce that it has acquired OC Communications Group Inc ("OC Communications" or "OCCGI") a leading provider of business process outsourcing services based in Toronto.

"The sale of OC Communications to Wireless Age is a key step in our growth strategy" says Mike Hilmer, CEO of OCCGI. "Wireless Age and its affiliated companies will provide OCCGI with the financial platform and the contacts to expand revenue in the growing energy and environmental services sectors. We couldn't be more excited about the prospects!"

John Simmonds, CEO of Wireless Age added "OC Communications is an excellent acquisition for WLSA and provides an infrastructure for all of our other business units. We are very pleased to have Mike Hilmer and his colleagues as part of our Vertility Technology Team going forward."

The share purchase which took place in January 2011 was funded by Newlook Industries Corp. (CNSX:NLI) ("Newlook") as part of an overall debt settlement between Newlook and Wireless Age. In the 1st half of 2011, OCCGI had revenues of $2.4 million with full year revenues projected at $7.2 million and annual EBITDA of $900 thousand.

About Wireless Age Communications:

Wireless Age brings together technologies and companies focused on innovative and cutting edge energy and environmental solutions. Business lines range from the marketing and installation of energy efficient household products, to the design, manufacture, and installation of waste handling and remediation systems. Wireless Age is positioned to benefit from the momentum building in the rapidly growing "green" and "renewable energy" marketplace.

About OC Communications Group Inc.

OCCGI offers fully integrated and comprehensive customer care and back office outsourcing solutions. Through the strategic management of customer communications across multiple channels, OCCGI enables its clients to focus on their core competence, retaining and growing their customer base.

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.

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