News
MAY 7, 2007 -- Newlook completes purchase of Wireless Age Communications, Inc. Stake
Toronto - Newlook Industries Corp. ("Newlook") (TSXV: NLI) is pleased to announce that it has completed the purchase of a significant stake in Wireless Age Communications, Inc. ("Wireless Age" (OTCBB: WLSA) on terms and conditions previously announced on April 10, 2007. The stake purchased consists of the following securities:
The stake purchased consists of the following securities:
1) Four Million, One Hundred Ninety-Two Thousand, Nine Hundred (4,192,900) Shares of WLSA's Preferred Stock,
2) One Million, Four Hundred Eighty Two Thousand, Four Hundred (1,482,400) Shares of WLSA's Common Stock,
3) Five Million (5,000,000) of WLSA's Series A Warrants, and
4) Five Million (5,000,000) of WLSA's Series B Warrants.
On a fully diluted basis, this position equates to a 39% interest in Wireless Age. Should Wireless Age fail to meet certain operational targets in 2007, the conversion feature on the preferred shares and warrants is enhanced and Newlook's interest would increase to 48% upon conversion into common shares.
Wireless Age is a telecommunication service and distribution company, with operations focused on the provision of wireless system products and service solutions to carriers, wholesalers, distributors, retailers and end-users. Wireless Age operates nine retail cellular and telecommunications stores, distributes prepaid phone cards and various cellular and land mobile radio products. This acquisition allows Newlook to expand its existing portfolio of telecommunication products and services. Going forward, Newlook anticipates further acquisitions to enhance its position in the telecommunication services industry.
Newlook Industries Corp., headquartered in Toronto, Ontario is a publicly traded company listed on the TSX Venture Exchange. For more information please call (416) 216-8659 or 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 Simmonds
Chief Executive Officer
Newlook Industries Corp.
Telephone: (416) 477-5656, Ext. 301
MAY 7, 2007 -- Newlook completes purchase of Wireless Age Communications, Inc. Stake
Toronto - Newlook Industries Corp. ("Newlook") (TSXV: NLI) is pleased to announce that it has completed the purchase of a significant stake in Wireless Age Communications, Inc. ("Wireless Age" (OTCBB: WLSA) on terms and conditions previously announced on April 10, 2007. The stake purchased consists of the following securities:
The stake purchased consists of the following securities:
1) Four Million, One Hundred Ninety-Two Thousand, Nine Hundred (4,192,900) Shares of WLSA's Preferred Stock,
2) One Million, Four Hundred Eighty Two Thousand, Four Hundred (1,482,400) Shares of WLSA's Common Stock,
3) Five Million (5,000,000) of WLSA's Series A Warrants, and
4) Five Million (5,000,000) of WLSA's Series B Warrants.
On a fully diluted basis, this position equates to a 39% interest in Wireless Age. Should Wireless Age fail to meet certain operational targets in 2007, the conversion feature on the preferred shares and warrants is enhanced and Newlook's interest would increase to 48% upon conversion into common shares.
Wireless Age is a telecommunication service and distribution company, with operations focused on the provision of wireless system products and service solutions to carriers, wholesalers, distributors, retailers and end-users. Wireless Age operates nine retail cellular and telecommunications stores, distributes prepaid phone cards and various cellular and land mobile radio products. This acquisition allows Newlook to expand its existing portfolio of telecommunication products and services. Going forward, Newlook anticipates further acquisitions to enhance its position in the telecommunication services industry.
Newlook Industries Corp., headquartered in Toronto, Ontario is a publicly traded company listed on the TSX Venture Exchange. For more information please call (416) 216-8659 or 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 Simmonds
Chief Executive Officer
Newlook Industries Corp.
Telephone: (416) 477-5656, Ext. 301
