TORONTO, July 13, 2012 /CNW/ - Redline Communications Inc. ("Redline" or
the "Company") today announced the receipt of a Certificate of
Amendment effecting completion of the share consolidation of its issued
and outstanding common shares effective July 9, 2012 on the basis of
one (1) post-consolidation share for every four (4) pre-consolidation
common shares.
The Company's shareholders approved the share consolidation at the
Company's annual and special meeting of shareholders held on June 28,
2012. All materials necessary to effect the share consolidation have
been filed with the TSX.
Letters of transmittal describing the details of the share consolidation
and the process by which shareholders obtain actual share certificates
representing the consolidated common shares will be mailed out to
registered shareholders of the Company later today. Registered shareholders may also obtain copies of the letter of
transmittal by contacting their brokers or other intermediary or the
Company's transfer agent, Computershare Investor Services Inc.
Shareholders who hold their shares through their broker or other
intermediary and do not have actual share certificates registered in
their name will not be required to complete and return a letter of
transmittal. Any pre-consolidation common shares owned by such
shareholders will automatically be adjusted as a result of the share
consolidation to reflect the applicable number of post-consolidation
common shares owned by them and no further action is required to be
taken by such shareholders. If as a result of the consolidation a
shareholder becomes entitled to a fractional share, such fractions will
be rounded down to the nearest whole common share.
About Redline Communications
Redline Communications (www.rdlcom.com) is the innovator of Virtual Fiber™, a rugged broadband wireless
solution used to cost-effectively deploy and extend secure networks,
enable machine-to-machine (M2M) applications, connect digital oil
fields and smart grids, facilitate and enhance public safety networks,
and bring Internet access wherever and whenever it's needed -
regardless of terrain or remote location. For more than a decade
Redline has delivered powerful, versatile and reliable wireless systems
to governments, militaries, oil and gas companies and telecom service
providers through its global network of certified partners.
Forward Looking Statements
Certain statements in this release may constitute forward-looking
statements or forward-looking information within the meaning of
applicable securities laws. In some cases, forward-looking statements
can be identified by terms such as "could", "expect", "may", "will",
"anticipate", "believe", "intend", "estimate", "plan", "potential",
"project" or other expressions concerning matters that are not
historical facts. Readers are cautioned not to place undue reliance
upon any such forward-looking statements.
Such forward-looking statements are not promises or guarantees of future
performance and involve both known and unknown risks and uncertainties
that may cause the actual results, performance, achievements or
developments of Redline to differ materially from the results,
performance, achievements or developments expressed or implied by such
forward-looking statements. Forward-looking statements, by their
nature, are based on certain assumptions regarding expected growth,
management's current plans, estimates, projections, beliefs, opinions
and business prospects and opportunities (collectively, the
"Assumptions"). While the Company considers these Assumptions to be
reasonable, based on the information currently available, they may
prove to be incorrect.
Many risks, uncertainties and other factors could cause the actual
results of Redline to differ materially from the results, performance,
achievements or developments expressed or implied by such
forward-looking statements. These risks, uncertainties and other
factors include but are not limited to the following: significant
competition, competitive pricing practices, cautious capital spending
by customers, industry consolidations, rapidly changing technologies,
evolving industry standards, frequent new product introductions, short
product life cycles and other trends and industry characteristics
affecting the telecommunications industry; any material, adverse
affects on Redline's performance if its expectations regarding market demand for particular products prove to be
wrong; any negative developments associated with Redline's suppliers
and contract manufacturing agreements including the Company's reliance
on certain suppliers for key components; potential penalties, damages
or cancelled customer contracts from failure to meet delivery and
installation deadlines and any defects or errors in Redline's current
or planned products; fluctuations in foreign currency exchange rates;
potential higher operational and financial risks associated with
Redline's efforts to expand internationally; a failure to protect
Redline's intellectual property rights, or any adverse judgments or
settlements arising out of disputes regarding intellectual property; changes in regulation of
the wireless industry or other aspects of the industry; any failure to
successfully operate or integrate strategic acquisitions, or failure to
consummate or succeed with strategic alliances; and Redline's potential
inability to attract or retain the personnel necessary to achieve its
business objectives or to maintain an effective risk management
strategy (collectively, the "Risks"). For additional information on
these Risks, see Redline's most recently filed Annual Information Form
("AIF") and Annual MD&A, which are available on SEDAR at www.sedar.com and on the Company's website at www.redlinecommunications.com. Redline assumes no obligation to update or revise any forward-looking
statements or forward-looking information, whether as a result of new
information, future events or otherwise, except as expressly required
by law. All forward looking statements contained in this release are
expressly qualified in their entirety by this cautionary statement.