Central Wireless Inc. Announces Sale of Securities.Business Editors DALLAS--(BUSINESS WIRE)--Sept. 13, 2002 On Sept. 11, 2002, Central Wireless Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CWIR CWIR Continuous Wave Illuminator Radar ) sold $200,000 in 12% secured convertible debentures Convertible Debenture Any type of debenture that can be converted into some other security. Notes: For example, a convertible bond can be converted into stock. and warrants to purchase 800,000 shares of its common stock to a group of investors. The sales were made pursuant to a Securities Purchase Agreement entered into by the company and the investors on July 12, 2002. The proceeds of the sale to Central Wireless, after expenses and disbursements, are approximately $169,300.00 The Company plans to use the proceeds of the sale primarily for company operations, expenses, and tower acquisition costs. Central Wireless Inc., a Utah corporation (formerly known as e resources inc), is a wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. infrastructure company. Our primary business is the development and construction of towers for the transmission of broadband broadband Term describing the radiation from a source that produces a broad, continuous spectrum of frequencies (contrasted with a laser, which produces a single frequency or very narrow range of frequencies). , cellular and other wireless communications signals. We also provide related services, including site acquisition, zoning and engineering services, and antennae and line installation. For more information about Central Wireless Inc., please see our filings posted on the Securities and Exchange Commission's Web site at http://www.sec.gov. This news release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. concerning the future performance of Central Wireless Inc., which are subject to a number of factors over which it has no control. Forward-looking information includes statements concerning industry trends, sales volume, financing arrangements and the level of capital expenditures; as well as those that include or are preceded by the words "expects," "estimates," "believes," or similar language. For a more complete discussion of the risks associated with an investment in Central Wireless Inc. and for additional information please refer to the reports on file with the Securities and Exchange Commission. |
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