ADC arranges $1.6 million financing for SMR system buildout from Brookline Capital Corp.DENVER--(BUSINESS WIRE)--Oct. 10, 1995--AMERICAN DIGITAL COMM. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). ELECTRONIC BULLETIN BOARD:ADCM) American Digital Communications, Inc. ("ADC (1) See A/D converter. (2) (Apple Display Connector) A peripheral connector from Apple that combines digital video display, USB and power in one cable. ") announced today that it has arranged debt financing of up to $1.6 million from Brookline Capital Corp. ("Brookline"). The financing is subject to completion of land and security documentation. The loan assistance is for the construction of up to 20 Specialized Mobile Radio See SMR. systems on the 220 MHz spectrum. The initial schedule for the planned buildout includes systems in St. Louis, Mo., San Antonio, TX., Portland, Or., Washington, D.C., Tampa, Fl., Detroit, Mi. and Denver, Co. The SMR systems will use Securicor narrowband radio equipment. ADC has contracted with Midland Systems, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Simmonds Capital Limited ("SCL") (formerly Simmonds Communications Ltd.), of Toronto, Canada for construction of the systems. Construction is expected to be completed by December 1995. ADC is a management company which has over 100 contracts to manage 220 Mhz SMR radio systems. ADC stated that it intends to enter into a roaming agreement with Roamer One of Los Angeles for the systems to be constructed. Roamer One, a subsidiary of Intek Diversified Corporation, is an SMR management company with 220 MHz systems constructed and under development across the country. ADC is publicly traded on the OTC Electronic Bulletin Board (Symbol - ADCM). Brookline Capital Corp. is a wholly owned subsidiary of Brookline Minerals Inc. which is traded on the Vancouver and Montreal Exchanges (Symbol - BKM). SCL is publicly listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (Symbol - SMM). Intek is listed on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Exchange (Symbol - IPCC). CONTACT: American Digital Communications Glen Klawetter, 303/377-9486 or Brookline Capital David O'Kell, 416/221-1900 |
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