Finline Gets Order To Deploy Its Trilogy Wireless System In Cameroon.Business Editors WATERLOO, Canada--(BUSINESS WIRE)--Feb. 19, 2001 Finline Technologies Ltd.(CDNX CDNX See Canadian Venture Exchange (CDNX). :FIN.) ("Finline" or "the Company") today announces that it, through its 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. Finline International Inc. has entered in to an agreement with Equatorial equatorial /equa·to·ri·al/ (e?kwah-tor´e-al) 1. pertaining to an equator. 2. occurring at the same distance from each extremity of an axis. Communications Inc ("Equatorial") for the Purchase, Supply and Operation of MMDS (Multichannel Multipoint Distribution Service or Microwave Multipoint Distribution Service) A digital wireless transmission system that works in the 2.2-2.4 GHz range. System (Multiple Channel, Multiple Point Distribution System) to provide Digital Television, Telephone and High Speed Internet Services in Cameroon. Under the terms of the agreement Equatorial has placed an initial order with Finline for approximately US$100,000.00 for an Internet head-end Terminal for the city of Douala, Cameroon. The terminal will provide Bi-Directional High Speed Internet through a Satellite-Earth-Station presently being built in Douala and scheduled for traffic, commencing on February 28, 2001. As part of the Agreement, Finline obtains 25% ownership of Equatorial's voting shares Voting Shares Shares that give the stockholder the right to vote on matters of corporate policy making as well as who will compose the members of the board of directors. Notes: Different classes of shares, such as preferred stock, sometimes don't allow for voting rights. and becomes the exclusive supplier to Equatorial and will deploy its Trilogy(TM) Wireless solution (High Speed Internet, Digital TV and Telephone) in 9 major economic centers in Cameroon, in addition to Douala. Finline's MMDS equipment will connect an estimated 5,000 individual subscribers and estimated 1,000 Internet and Access Points in Cameroon. In addition Finline retains an option to provide the space segment services to carry and terminate the Internet and long distance telephone calls into USA. Strategic alliances are underway to negotiate for the provision of further services by Finline. Headquartered in Baltimore, MD, USA, Equatorial Communications Inc.'s strategic plan is to open the world to the new digital economy especially in the developing countries of Africa. Their mission is to bring affordable Internet, Telephone and Video connectivity through a wireless infrastructure connecting customers to the World Wide Web via a satellite space segment, with one of their markets being Cameroon. "This is the first deployment of our Trilogy(TM) Wireless System for High Speed Internet, Digital TV and Telephone, since Trilogy's introduction in October, 2000. The interest in the flexibility, scalability and rapid deployment of Trilogy(TM) Systems, has been tremendous and I am pleased to see our efforts pay off," said Einar Fiskvatn, President and 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. of Finline Technologies Ltd. Finline Technologies Ltd. is in the business of Designing, Manufacturing, Marketing, and Selling broadband wireless See wireless broadband. systems, focusing on MMDS "Wireless Cable" solutions for the provision of Telephone, High Speed Internet, and Digital Television. Finline operates through joint ventures and/or other business combinations to enhance its market share. Based in Waterloo, Ontario Coordinates: Waterloo is a city in Ontario, Canada. It is the smallest of the three cities in the Regional Municipality of Waterloo, and is adjacent to the larger city of Kitchener. , Canada, Finline has successfully deployed its systems and components worldwide to operators in fourteen countries on five continents. 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) has not reviewed and does not accept responsibility for the adequacy or accuracy of this release |
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