APAC Receives Regulatory Approval for Acquisition.VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 11, 1996-- APAC APAC Australian Partnership for Advanced Computing APAC Agricultural Policy Analysis Center APAC Asia and Pacific APAC Asian Pacific American Coalition APAC Adapted Physical Activity Council (American Alliance for Health) TELECOMMUNICATIONS (VSE See DOS/VSE. VSE - Virtual Storage Extended : APA (All Points Addressable) Refers to an array (bitmapped screen, matrix, etc.) in which all bits or cells can be individually manipulated. APA - Application Portability Architecture ) The Company is pleased to announce that it has received regulatory approval to proceed with the purchase of the previously announced 22,000 subscriber Guangdong 140.250 mhz paging station and concurrently close the previously announced $2,850,000 Private Placement with 10 Asian investors. The common shares and any shares issued upon exercise of the warrants are subject to a hold period expiring September 23, 1997. Said CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Garry Milligan, "The Guangdong "140" station forms the cornerstone of the Company's narrow band messaging strategy. APAC will now begin to install technology that significantly enhances the quality and variety of data transmission services that can be offered not only in Guangdong but throughout China. During the next 30 days our technicians will deploy new equipment that can more than double our coverage. The improved network has been designed to support a subscriber base of nearly 200,000 which represents a mere 0.1 percent of the over 200 million people living within the licence area." He continued, "In addition to quickly building out the Guangdong operation, we intend to immediately complete negotiations with other "140" licensees in different cities so that APAC may capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. our agreement with the People's Liberation Army People's Liberation Army Unified organization of China's land, sea, and air forces. It is one of the largest military forces in the world. The People's Liberation Army traces its roots to the 1927 Nanchang Uprising of the communists against the Nationalists. to become the first independent provisioner to offer a nationwide satellite based messaging service." The Company is also pleased to announce the granting of two year incentive stock options to purchase 580,000 shares to various employees at $0.90 being the average closing price of the previous ten days. APAC Telecommunications Corporation designs and installs paging and cellular communication systems for strategic partners in the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China. CONTACT: APAC Telecommunications Corporation Garry Milligan, 604/681-8338 604/681-2388 (FAX) |
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