Wireless Age Communications, Inc.
OTC Bulletin Board : WLSA

Wireless Age Communications, Inc.

December 18, 2007 10:39 ET

Wireless Age Launches Leasing Venture

TORONTO, ONTARIO--(Marketwire - Dec. 18, 2007) - Wireless Age Communications, Inc. (OTCBB:WLSA) ("Wireless Age" or the "Company") announced today that it will be forming a leasing joint venture with its controlling shareholder Newlook Industries Corp. ("Newlook").

The new entity, Vision Unlimited Equipment Inc. ("VUE"), will be owned equally by both parties, and the company intends to begin operations early in fiscal 2008. VUE will initially be capitalized with approximately $500,000 and begin to offer financing for Wireless Age's communications products to the Company's traditional customer base. In addition to existing products, VUE will offer creative financing for other electronic and non-electronic products in related business sectors.

John Simmonds, Wireless Age CEO stated; "A new board-approved venture, VUE is a project we believe will be quite lucrative for both Wireless Age and Newlook. We've run the numbers and expect the returns from this business opportunity to significantly offset our borrowing costs. Management has experience with this type of venture in the past, and we believe that the current market conditions are such that it will be well received."

About Wireless Age

Wireless Age Communications, through its 99.7% owned subsidiary, Wireless Age Communications Ltd., is in the business of operating retail cellular and telecommunications outlets in cities in western Canada. Through its other wholly owned subsidiary, Wireless Source Distribution Ltd., the company distributes two-way radio products, prepaid phone cards, wireless accessories and various battery and ancillary electronics products in Canada.

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.
    John G. Simmonds
    Chairman and CEO
    (905) 833-2753 ext. 223
    Website: www.thewirelessage.com
    or
    Andrew Barwicki
    Investor Relations
    (516) 662-9461