Wireless Age Communications Inc.
PINKSHEETS : WLSA

Wireless Age Communications Inc.

February 02, 2012 09:33 ET

Wireless Age Enters Into Agreement to Manufacture Waste Handling Equipment

TORONTO, ONTARIO--(Marketwire - Feb. 2, 2012) - Wireless Age Communications, Inc. (the "Company") (PINKSHEETS:WLSA) announced today that it has entered into an Agreement to start manufacturing the Vertility line of Waste Handling Equipment in our new central Ontario manufacturing plant.

The new location which is over one hundred thousand square feet is available for production immediately and our staffing requirements have been identified. Our recruiting will take place in the month of February with full production anticipated in the Spring of 2012.

We hope to have our new updated Vertility website up shortly with pictures and more detailed information concerning our new strategic initiatives.

John Simmonds, Chairman and CEO stated, "We are very excited about this new facility which is perfect for our needs. We expect to be successful from the start. This opportunity in our opinion is far more viable and sustainable than our original plan to acquire a Fanotech Licence. Obviously with Fanotech in bankruptcy, the value of a licence, if any, with them, is unknown. This officially closes the unfortunate chapter in our history of dealing with the Tomassoni Family. We wish them well in their future endeavours.

We also are reviewing our options with Enwise as the Canadian Government has cancelled its Federal ecoENERGY Retrofit Program and without it, there is really no sustainable business. We have closed our offices and are in discussions with possible buyers for the licence and other assets. We will advise on our progress during the month of February."

Forward Looking Statements 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.

Contact Information

  • Wireless Age Communications Inc.
    Mr. John G. Simmonds
    Chairman, President and Chief Executive Officer
    905-833-2753 ext. 223
    jgs@fanocorp.com