Wireless Age Communications Inc.

Wireless Age Communications Inc.

April 15, 2011 09:58 ET

Wireless Age Communications Inc. Closes Private Placement

TORONTO, ONTARIO--(Marketwire - April 15, 2011) - Wireless Age Communications, Inc. (PINK SHEETS:WLSA), ("Wireless Age" or "the Company") is pleased to announce that on April 14, 2011 the Company closed a non-brokered private placement in its securities at a price of $0.05 per common share for total proceeds of $1,000,000.00.

A total of 20,000,000 common shares were issued, with insiders of the Company and John Simmonds' family purchasing a total of approx. 13,000,000 shares. John Simmonds personally invested $500,000 for 10,000,000 shares, Simmonds' family invested $75,400 for 1,508,000 shares, Carrie Weiler invested $50,000 for 1,000,000 shares and Albert Pope invested $25,000 for 500,000 shares. No warrants were issued. In accordance with SEC Rule 144, the shares will be restricted.

John G. Simmonds, Chairman and Chief Executive Officer, stated, "As we continue to roll out our new business strategy, we are confident that this capital will help move the company forward in a direction that will help increase shareholder value.

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.

Wireless Age has backstopped this strategy through the development of a seasoned management team with significant sales, marketing, operations and financial experience in the manufacturing, services and the renewable energy fields. This team also has demonstrated competencies in leading high growth companies and creating value for shareholders.

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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