Wireless Age Communications Inc.

August 31, 2011 10:02 ET

Wireless Age Communications Inc. Closes Sale of Shares

TORONTO, ONTARIO--(Marketwire - Aug. 31, 2011) - Wireless Age Communications, Inc. (PINK SHEETS:WLSA), ("Wireless Age" or "the Company") John G. Simmonds, Chairman & Chief Executive Officer ("CEO") of Wireless Age Communications Inc., is pleased to announce that the Company has completed the sale of its shares held by Newlook Industries. Newlook Industries (NLI) sold a total of 23,132,457 shares of Wireless Age at $0.08 per share. Within the next few weeks, Wireless Age will have divested 724,968 shares of Newlook. The quarter ending September 30, 2011 will reflect the deconsolidation of the ownership interest between both companies.

John Simmonds and Family acquired approximately 5.4 million shares and approximately 13.2 million shares were acquired by twenty three (23) separate investors including Directors, Advisory Board Members and Senior Management, and some of their respective Family Trusts. The divesture of the shares in each company will enable the companies to pursue the business sectors they are each involved in.

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.

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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