News
APR 10, 2007 -- Newlook to acquire stake in Wireless Age Communications, Inc.
Toronto - Newlook Industries Corp. ("Newlook") (TSXV: NLI) is pleased to announce that it has entered into an option purchase agreement with Barron Partners LP (the "Selling Shareholder") for the right to acquire a stake in Wireless Age Communications, Inc. ("Wireless Age") (OTCBB: WLSA). The stake is comprised of the following securities (defined as the "Option Shares"):
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.
For consideration of US$100,000 already paid, the Selling Shareholder has granted Newlook, until April 30, 2007, the option to purchase the Option Shares for a price of US$600,000.
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.
The Boards of Newlook and Wireless Age have mutually agreed to terminate the letter of intent previously announced on March 5, 2007. Accordingly, Wireless Age has agreed to return Newlook's associated $200,000 deposit.
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
APR 10, 2007 -- Newlook to acquire stake in Wireless Age Communications, Inc.
Toronto - Newlook Industries Corp. ("Newlook") (TSXV: NLI) is pleased to announce that it has entered into an option purchase agreement with Barron Partners LP (the "Selling Shareholder") for the right to acquire a stake in Wireless Age Communications, Inc. ("Wireless Age") (OTCBB: WLSA). The stake is comprised of the following securities (defined as the "Option Shares"):
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.
For consideration of US$100,000 already paid, the Selling Shareholder has granted Newlook, until April 30, 2007, the option to purchase the Option Shares for a price of US$600,000.
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.
The Boards of Newlook and Wireless Age have mutually agreed to terminate the letter of intent previously announced on March 5, 2007. Accordingly, Wireless Age has agreed to return Newlook's associated $200,000 deposit.
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
