Wireless Zone is one of six exclusive Verizon Wireless National Premium Retailers and is headquartered in Middletown, Connecticut “We are excited to join a company that shares the same values of quality, service, philanthropy and integrity,” stated Kevin Sinclair
Wireless Zone has a long-term exclusive agency agreement with Verizon Wireless, operating 409 franchised and 19 corporate stores in 28 States, with 273 stores in the Northeast (Connecticut The transaction is expected to close in the next two to four weeks, and is subject to the fulfillment of certain customary conditions. The total purchase price for 100% stock and other consideration is USD $83.3 million Combined pro forma unaudited trailing twelve-month financial highlights of GLENTEL Inc. in millions of Canadian dollars, inclusive of the recently completed acquisition of Australian-based AMT Group and the pending acquisition of ATI, dba Wireless Zone:
* Includes a wholesale business that sells mobile phones and other goods and services to its franchisees
The unaudited pro forma financial information reflects pro forma adjustments and expected synergies based on currently available information and assumptions that management of GLENTEL believes provide a reasonable basis for presenting the significant effects of the completion of the share purchase transactions. Adjustments in place adjust results to account for GLENTEL’s 83% ownership interest in AMT Group. The above unaudited pro forma consolidated financial information is for informational purposes only and is not necessarily indicative of what the financial position and results of operations would have been had the completion of the acquisitions occurred on or before June 30, 2011 GLENTEL (TSX: GLN) is the largest independent multi-carrier mobile phone retailer in Canada
Forward-Looking Statements Statements in this release relating to matters that are not historical fact are forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Factors that could cause or contribute to such differences include, but are not limited to, general economic conditions, changes in technology, reliance on third-party manufacturing, managing rapid growth, limited intellectual property protection, and other risks and uncertainties described in GLENTEL’s public filings with securities regulatory authorities.
NO STOCK EXCHANGE, SECURITIES COMMISSION, OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.
For a copy of GLENTEL’s annual report or for additional information, visit www.glentel.com or www.sedar.com.