Wireless Age Communications Signs Letter of Intent with
Collectible Concepts Group, Inc. to create MightyVolt Corporation
Wednesday October 20, 10:07 AM EDT
TORONTO, Oct 20, 2004 (BUSINESS WIRE) --
Company to Manufacture and Market licensed flashlight products for college,
professional sports and entertainment markets.
Wireless Age Communications Inc. (WLSA) announced today that it has signed
a letter of intent with Collectible Concepts Group, Inc. (PINK SHEETS:CCGI)
to create a new company, MightyVolt Corporation, for the purpose of manufacturing
and marketing licensed flashlight products for the college, professional sports
and entertainment markets.
John Simmonds, Chairman and CEO of Wireless Age, stated, "We view our
participation with CCGI in MightyVolt Corporation as an opportunity to accelerate
the growth of our battery business through the development of battery powered
consumer products. CCGI brings a track record of successfully developing and
marketing specialty products which is a key to the success of this initiative."
Wireless Age has a wholesale battery business which it operates under "Wireless
Source", the Company's wholesale business unit. Wireless Source has sub-license
agreements with SureCells Portable Power Products Ltd. which packages and distributes
battery products specifically for fundraising and Simmtronics Ltd. which supplies
batteries to retail outlets in Canada.
About Collectible Concepts Group.
Headquartered in Doylestown, PA, Collectible Concepts Group,
Inc. develops and markets unique licensed entertainment, sports, and music collectible
merchandise for specialty, mass retail and online distribution. Nationally recognized
in direct response marketing, replica design, mass-market distribution and E-commerce
marketing, the company's products are renowned both for quality and authenticity.
Licenses include The Three Stooges(R), over 25 Colleges & Universities,
The National Football League and others.
About Wireless Age Communications Inc.
Wireless Age Communications Inc. operates three Strategic Business
Units (SBUs). They consist of Wireless Age for the retail sector , Wireless
Source covering wholesale/distribution and Wireless Works is the Company's networks
and engineering division.
Wireless Age retail outlets market and sell next generation wireless products and services. Wireless Source distributes prepaid phone cards, wireless accessories, land mobile radios, batteries and ancillary electronics products throughout North America.
Wireless Works operates broadband public access and private
networks and develops and deploys consumer and commercial products for use on
those networks.
Wireless Age's retail operations (Wireless Age) are conducted
through its 94% owned subsidiary Wireless Age Communications, Ltd. Wholesale
operations (Wireless Source) are conducted through its wholly owned subsidiaries
Wireless Source Distribution Ltd., Marlon Distributors Ltd., Prime Wireless
Corporation and the A.C. Simmonds and Sons operating division. Networks and
engineering operations (Wireless Works) are conducted through agreements with
Knowlton Pass Electronics Limited and Maxtel Wireless Inc.
Wireless Age has an investment in RELM Wireless Corporation
which manufactures and markets high-specification two-way communications equipment
for use by public safety professionals and government agencies, as well as radios
for use in a wide range of commercial and industrial applications. Advances
include new low-cost digital portable two-way radios compliant with APCO Project
25 technical specifications. Products are manufactured and distributed worldwide
under BK Radio, RELM and Uniden PRC brand names.
Wireless Age also has an investment in Azonic Corporation which
plans to market two low cost, analog phones. One is designed to be located in
glove boxes, first aid kits and emergency supply packages and used for emergency
purposes. The second is a prepaid wireless phone designed to be used in the
low cost and short-term usage markets.
For additional information about Wireless Age Communications
Inc. or its subsidiaries, please visit our website at www.thewirelessage.com
or review our periodic filings with the Securities and Exchange Commission at
www.sec.gov.
This press release contains "forward-looking statements"
as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking
statements are based on currently available competitive, financial and economic
data and management's views and assumptions regarding future events. Such forward-looking
statements are inherently uncertain. Wireless Age cannot provide assurances
that the matters described in this press release will be successfully completed
or that we will realize the anticipated benefits of any transaction. Actual
results may differ materially from those projected as a result of certain risks
and uncertainties, including but not limited to: global economic and market
conditions; the war on terrorism and the potential for war or other hostilities
in other parts of the world; the availability of financing and lines of credit;
successful integration of acquired or merged businesses; changes in interest
rates; management's ability to forecast revenues and control expenses, especially
on a quarterly basis; unexpected decline in revenues without a corresponding
and timely slowdown in expense growth; our ability to retain key management
and employees; intense competition and our ability to meet demand at competitive
prices and to continue to introduce new products and new versions of existing
products that keep pace with technological developments, satisfy increasingly
sophisticated customer requirement and achieve market acceptance; relationships
with significant suppliers and customers; as well as other risks and uncertainties,
including but not limited to those detailed from time to time in Wireless Age's
SEC filings. Wireless Age undertakes no obligation to update information contained
in this release. For further information regarding risks and uncertainties associated
with Wireless Age's business, please refer to the risks and uncertainties detailed
from time to time in Wireless Age's SEC filings.
SOURCE: Wireless Age Communications, Inc.
CONTACT: Wireless Age Communications, Inc.
John Simmonds
Chairman & C.E.O.
(905) 833-0808 ext 223
Fax: (905) 833-6942
OR
Martin E. Janis & Company, Inc.
Beverly Jedynak
(312) 943-1100 ext. 12