News
FEB 4, 2008 -- Newlook provides January Update
Toronto, Ontario -- Newlook Industries Corp. (TSX Venture Exchange: NLI), ("Newlook" or the "Company") is pleased to announce that revenues in January 2008 were approximately $3 million. Additionally, the Company's majority owned subsidiary, Wireless Age Communications, Inc. (OTCBB:WLSA) ("Wireless Age") has repurchased a total of 691,500 shares of its own common stock for cancellation during January 2008.
Revenues in January 2008 were $3 million, comprised of $1.74 million from the retail operating segment and $1.24 million from the commercial operating segment.
Wireless Age has previously announced its intent to acquire up to 5,000,000 shares of its own stock under an SEC Rule 10b-18 stock repurchase plan during calendar 2008. In January 2008, Wireless Age repurchased 691,500 shares of its common stock in private transactions with several third parties at an average price of $0.19 per share. These shares were acquired for cash consideration of $107,400 and debt forgiveness of approximately $25,000.
John G. Simmonds, Newlook CEO stated, "Operating revenues continue to exceed our expectations. Although we are in a typically slow part of the year, we have managed to start the year off strong by generating revenues of $3 million in January, exceeding our internal management budget by 15%. Furthermore, Wireless Age will return 691,500 shares to treasury, which will effectively increase Newlook's ownership position in Wireless Age by approximately 1%."
About Newlook Industries Corp.
Newlook holds a 54% controlling interest in Wireless Age Communications, Inc. Wireless Age 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.
Newlook Industries Corp., headquartered in Toronto, Ontario is a publicly traded company listed on the TSX Venture Exchange. For more information refer to www.sedar.com.
The management of the company, who take full responsibility for its content, prepared this press release. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This press release contains forward-looking statements relating to future events and results that are based on Newlook's current expectations. These statements involve risks and uncertainties including, without limitation, Newlook's ability to successfully develop and market its products, consumer acceptance of such products, competitive pressures relating to price reductions, new product introductions by third parties, technological innovations, and overall market conditions. Consequently, actual events and results in future periods may differ materially from those currently expected.
For more information contact:
John G. Simmonds
Chief Executive Officer
Newlook Industries Corp
Tel.: (416) 477-5656 ext 301
FEB 4, 2008 -- Newlook provides January Update
Toronto, Ontario -- Newlook Industries Corp. (TSX Venture Exchange: NLI), ("Newlook" or the "Company") is pleased to announce that revenues in January 2008 were approximately $3 million. Additionally, the Company's majority owned subsidiary, Wireless Age Communications, Inc. (OTCBB:WLSA) ("Wireless Age") has repurchased a total of 691,500 shares of its own common stock for cancellation during January 2008.
Revenues in January 2008 were $3 million, comprised of $1.74 million from the retail operating segment and $1.24 million from the commercial operating segment.
Wireless Age has previously announced its intent to acquire up to 5,000,000 shares of its own stock under an SEC Rule 10b-18 stock repurchase plan during calendar 2008. In January 2008, Wireless Age repurchased 691,500 shares of its common stock in private transactions with several third parties at an average price of $0.19 per share. These shares were acquired for cash consideration of $107,400 and debt forgiveness of approximately $25,000.
John G. Simmonds, Newlook CEO stated, "Operating revenues continue to exceed our expectations. Although we are in a typically slow part of the year, we have managed to start the year off strong by generating revenues of $3 million in January, exceeding our internal management budget by 15%. Furthermore, Wireless Age will return 691,500 shares to treasury, which will effectively increase Newlook's ownership position in Wireless Age by approximately 1%."
About Newlook Industries Corp.
Newlook holds a 54% controlling interest in Wireless Age Communications, Inc. Wireless Age 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.
Newlook Industries Corp., headquartered in Toronto, Ontario is a publicly traded company listed on the TSX Venture Exchange. For more information refer to www.sedar.com.
The management of the company, who take full responsibility for its content, prepared this press release. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This press release contains forward-looking statements relating to future events and results that are based on Newlook's current expectations. These statements involve risks and uncertainties including, without limitation, Newlook's ability to successfully develop and market its products, consumer acceptance of such products, competitive pressures relating to price reductions, new product introductions by third parties, technological innovations, and overall market conditions. Consequently, actual events and results in future periods may differ materially from those currently expected.
For more information contact:
John G. Simmonds
Chief Executive Officer
Newlook Industries Corp
Tel.: (416) 477-5656 ext 301
