BROOKLINE ANNOUNCES PLANS TO PARTICIPATE IN THE 220 MHZ SPECIALIZED MOBILE RADIO MARKET.VANCOUVER, B.C.--(BUSINESS WIRE)--JULY 13, 1995-- BROOKLINE MINERALS INC. (ME, VSE See DOS/VSE. VSE - Virtual Storage Extended :BKM) Further to its press release of July 9, 1995, Brookline Minerals Inc. ("Brookline") announced today that it intends to wind up its mineral exploration business to focus on opportunities in the wireless communications market and more specifically upon the investment and financing opportunities in the developing 220 MHz Specialized Mobile Radio See SMR. market in the United States. Brookline has signed a Letter of Intent to acquire Brook SIG Corp. ("BSIG BSIG Bluetooth Special Interest Group ") in exchange for 15 million common shares of Brookline. The Brookline common shares are to be issued to the shareholders of BSIG in three equal parts with 5 million shares issued for each fifty 220 MHz systems which are successfully financed and constructed in the United States. As part of the transaction, Brookline has agreed to pay a finder's fee of 400,000 common shares to an individual. BSIG is a development company which has certain investments and strategic relationships in the US Specialized Mobile Radio market in the recently licensed 220 MHz spectrum. Intek Diversified Corporation ("Intek") of Los Angeles, California, Simmonds Communications Ltd. ("SCL"), and one individual investor each own a one third interest in BSIG. Through BSIG, Intek and SCL will each enter into an agreement to provide certain management services and technical expertise for the development of Brookline's ongoing business strategy. As payment, Intek and SCL will each receive one million common shares of Brookline. Upon completion of the transactions, which are subject to due diligence, regulatory, and shareholder approval, Brookline shall change its name to Brookline Capital Inc. It is proposed that Mr. John Simmonds, Mr. David O'Kell and Mr. Nicholas Wilson will be appointed to the Board of Directors of Brookline, in addition to 4 of the current directors. Mr. Simmonds will become the Chairman, and Mr. O'Kell will become the President of Brookline. Intek Diversified Corporation is a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. 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 - IDCC IDCC Integrated Dual-use Commercial Companies ). Through its wholly-owned subsidiary, Roamer One, Intek is developing a 220 MHz Specialized Mobile Radio network in the United States. Brookline's activities and operations will be independent from the 220 MHz business of Intek. Simmonds Communications Ltd., Toronto, Ontario, is a diversified electronics company involved as a manufacturer, distributor, and systems integrator in the global wireless communications market and the production and distribution of electronic components. SCL is 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). Brookline Minerals Inc. is listed on The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). and The Montreal Exchange (Symbol - BKM). -0- NOTE: NO REGULATORY AUTHORITY HAS APPROVED NOR DISAPPROVED THE CONTENT OF THIS RELEASE CONTACT: Mr. Murray Sinclair, Jr., 604/689-1428 |
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