|
WirelessDevNet.com Press Release
Wireless Age Acquires Licence to Manufacture and Market Fanotech Products Into USA
Wireless Age Communications Inc., a public company, with its operational headquarters located in King City, Ontario is very pleased to announce that Vertility Technology Corporation has acquired an exclusive and perpetual license to manufacture, market and sell all products currently manufactured by FANOTECH Enviro Inc. and FANOTECH Waste Inc., of Bracebridge and Huntsville, Ontario, and that this license will extend throughout the United States of America.
The terms of the acquisition include an ongoing annual royalty payment of five percent (5%) of the Licensee's EBITDA, as well as a one time payment of ten million (10,000,000) shares in Wireless Age Communications. This transaction will be completed as of Friday April, 30, 2011 after the close of business.
Vertility Technology Corporation Chairman and Chief Executive Officer, John Simmonds, states, "This agreement with Fanotech will provide Vertility Technology Corporation with the broadest line of high quality, mobile and stationary waste management equipment available today. We are excited to add this line of high performance products to our growing offering of waste disposal solutions, and are confident that our American customers will embrace these products."
FANOTECH founder and engineer, Gabriel R. Tomassoni states, "This agreement with Vertility Technology is a key step towards fulfilling my vision of becoming a lead supplier of waste stream equipment throughout North America. We are all thrilled to partner with Vertility Technologies, and to offer to the American market place our innovative line of products which have been refined through 40 years of design and development"
ABOUT WIRELESS AGE COMMUNICATIONS INC.
Wireless Age brings together technologies and companies focused on innovative and cutting edge energy and environmental solutions. Business lines range from the marketing and installation of energy efficient household products, to the design, manufacture, and installation of waste handling and remediation systems. Wireless Age is positioned to benefit from the momentum building in the rapidly growing "green" and "renewable energy" marketplace.
Wireless Age has backstopped this strategy through the development of a seasoned management team with significant sales, marketing, operations and financial experience in the manufacturing, services and the renewable energy fields. This team also has demonstrated competencies in leading high growth companies and creating value for shareholders.
|
