Yak Communications Inc.

Yak Communications Inc.

June 08, 2005 09:51 ET

Yak Communications Receives NASDAQ Hearing Panel Letter Regarding Removal of 'E' From Trading Symbol

MIAMI, FLORIDA and TORONTO, ONTARIO--(CCNMatthews - June 8, 2005) - Yak Communications Inc. (NASDAQ:YAKCE) today announced that a Nasdaq Listing Qualifications Panel has approved its request for continued listing on the Nasdaq National Market and advises that the fifth character, "E" will be removed from Yak's trading symbol effective with the opening of trading on Thursday June 9, 2005.

The "E" had been added to the Yak trading symbol because the Company had not been in compliance with Nasdaq's listing standards as a result of a delay in filing its Form 10-Qs for the quarters ended December 31, 2004 and March 31, 2005. Both Form 10-Qs were subsequently filed on May 31, 2005. As a result, the Listing Qualifications Panel determined that the Company now has satisfied Nasdaq's filing requirements.

About Yak Communications Inc.

Yak Communications Inc. (the "Company") (NASDAQ:YAKCE) is an Integrated Communications Provider (ICP) offering a full array of long distance (1+, toll free and dial-around), local lines, travel cards, cellular long distance, data services, and broadband voice (VoIP) to residential and small businesses in North America over high speed internet access. Yak currently serves approximately 860,000 customers for its traditional telecom services. For more information, visit http://www.yak.com.

Forward Looking Statements:

Statements contained in this news release, which are not strictly historical are forward looking within the meaning of the safe harbor clause of the Private Securities Litigation Reform Act of 1995. The Company makes these statements based on information available to it as of the date of this news release and assumes no responsibility to update or revise such forward-looking statements.

Editors and investors are cautioned that forward-looking statements invoke risk and uncertainties that may cause the Company's actual results to differ materially from such forward-looking statements.

Words such as "projects", "believe", "anticipates", "estimate", "plans", "expect", "intends", and similar words and expressions are intended to identify forward-looking statements and are based on our current expectations, assumptions, and estimates about us and our industry. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Although the Company believes that such forward-looking statements are reasonable, we cannot assure you that such expectations will prove to be correct. Our actual results could differ materially from those anticipated in such forward-looking statements as a result of several factors, risks and uncertainties. These factors, risks and uncertainties include, without limitation, the results of the audit and review processes performed by the Company's independent auditors with respect to any restatement of the Company's historic financial statements, the Company's success in integrating the operations of any newly-acquired businesses, and associated reduction in costs, the successful implementation of its business plans including growth of existing product offerings, strategic acquisitions and development of broadband telephony products, the successful integration of new management team members, continued and increased demand for its services, the successful deployment of new equipment and realization of material savings there from, competition from larger and/or more experienced telecommunications providers, its ability to continue to develop its markets, general economic conditions, changes in governmental regulation, and other factors that may be more fully described in the Company's literature and periodic filings with the Securities and Exchange Commission. You are urged to carefully review and consider these disclosures, which describe certain factors that affect our business.

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