Wireless Age Communications, Inc.

Wireless Age Communications, Inc.

January 06, 2011 12:31 ET

Wireless Age Incorporates EnWise Home Services

TORONTO, ONTARIO--(Marketwire - Jan. 6, 2010) - Wireless Age Communications, Inc. (PINK SHEETS:WLSA), ("Wireless Age" or "the Company") announced today that it has incorporated EnWise Home Services Inc. (EHSI), a new company focusing on providing energy efficient solutions for homeowners through the sales and rentals of energy efficient equipment such as Energy Star Water Heaters, Furnaces, Air Conditioners, Air Cleaners and Insulation.

This development is in line with a previous transaction that focused on the overall strategy to penetrate the home services industry. On October 14th, 2010, Wireless Age registered a General Security Agreement and entered into a credit agreement with EnWise Power Solutions Inc. Upon successful approval of the proposal from EnWise creditors and the Ontario's Bankruptcy Insolvency Act Trustee, this transaction was to allow Wireless Age the option to convert the $50,000 secured loan into a 60% ownership in EnWise Power Solutions Inc. This proposal was rejected by EnWise creditors and therefore Wireless Age executed its security interest and will recover the $50,000 secured loan.

Wireless Age was the successful bidder in securing certain assets of the bankrupted entity. We have also hired the key personnel who bring expertise in launching the new business. 

The Company is in negotiations to secure product supply and we have reached tentative agreements with additional sales agencies that should give us annual revenues of over $20M in 2011.

John G. Simmonds, Chairman, & CEO of Wireless Age, stated, "It is still our mandate to aggressively expand into the home services and energy efficiency space. We have some strong synergies in this industry and we believe this market that is as yet untapped and presents a tremendous amount of opportunity for expansion. We have secured a strong management team to push forward with this opportunity and I believe within a very short period of time, we will be posting strong levels of financial performance".

Contact Information

  • Wireless Age Communications, Inc.
    Mike Druhan
    Resulz Media Group Corp.
    Tyler Troup
    519-979-1551 ext 102