Alexander Acquires South African Telecommunications License Through Joint Venture.Business Editors TORONTO--(BUSINESS WIRE)--Mar. 13, 2000 The Company (CDNX CDNX See Canadian Venture Exchange (CDNX). :AWS AWS Amazon Web Services AWS American Welding Society AWS Advanced Warning System AWS Advanced Wireless Services AWS Automatic Weather Station AWS Alien Workshop (skateboard company) AWS Austria Wirtschaftsservice GmbH .) is pleased to announce that it has signed an agreement with Focinetworks of South Africa, for the right to provide communications services in South Africa, through Focinetwork's value added services telecommunications license granted by the South Africa Telecommunications Regulatory Authority The Telecommunications Regulatory Authority of Bahrain (TRA) was established by Legislative Decree No. 48 promulgating the Telecommunications Law. The TRA is an independent body and its duties and powers include, among other things, protecting the interests of subscribers and users (SATRA). Focinetworks is owned by Dr. Gail Mlokoti who recently accepted an appointment to the Company's Board of Directors. The license was granted in terms of section 40 of the Telecommunications Act of South Africa, Number 103 of 1996, which enables the Company to provide communications services to individuals, businesses and organizations in the Republic of South Africa. Both parties regard the agreement as a joint venture. The agreement requires the Company to pay Focinetworks 500,000 South African Rand “ZAR” redirects here. For the former republic, see South African Republic. The rand is the currency of South Africa. It takes its name from the Witwatersrand (White-waters-ridge and 50,000 shares of the Company. The Company will create 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. in South Africa that will enter into a joint venture with Focinetworks, incorporating the terms of this agreement. The Company is actively pursuing partners in the region to cooperate in the installation and operation of innovative wireless application protocol technologies with the goal of becoming one of the leading providers of telemedicine and distance learning in the Republic of South Africa. This agreement is subject to the filing of documentation to the Exchange. --------------- Harry Corrigan Chief Executive Officer The Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) neither approves nor disapproves of this news release. |
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