Finline Technologies Announces Agreement with First Nations Equity Inc.Business Editors WATERLOO, Ontario--(BUSINESS WIRE)--Dec. 20, 2000 Finline Technologies Ltd. ("Finline") (CDNX CDNX See Canadian Venture Exchange (CDNX). :FIN.) 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 signed an Agreement to Joint Venture (the "Agreement") with First Nations Equity Inc. ("First Nations"). The Agreement calls for the establishment of a Joint Venture owned equally between Finline and First Nations for the purpose of owning and operating 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. systems to provide video, voice, and high-speed Internet See broadband. services to Aboriginal communities in Canada The following is a list of Aboriginal communities in Canada. While communities for all Aboriginal peoples in Canada (the First Nations, Inuit, and Métis) are included, the list is largely made up of Indian reserves, which are sometimes incorrectly called the American term and the United States. Under the terms of the Agreement, Finline and First Nations will deploy an initial MMDS system in an Aboriginal location to be chosen with an estimated cost of US $2,500,000 The system will comprise Finline's Trilogy MMDS solution for voice, video, and high-speed internet services. Per the Agreement, First Nations will contribute the sum of US $1,250,000 in cash to Finline toward the equipment cost of the system and Finline will contribute an equal sum in moneysworth toward the installation, deployment and testing of the system. The Joint Venture between the parties is conditional upon the execution of a definitive joint venture agreement, consent of the board of directors of each party, the completion of a mutually acceptable business plan and installation work plan for the deployment of the initial MMDS system, the demonstration by First Nations of appropriate and acceptable agreements to operate the proposed system, and the completion of due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. by the respective parties. Headquartered in Toronto, Ontario, First Nations Equity Inc. is an Investment Banking firm that specializes in financings, mergers, acquisitions, and divestitures predominantly in markets related to Native American and Aboriginal companies in North America. For further information contact Brian Davey 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. , Tel:(416) 947-9191, E-Mail b.davey@firstnationsequity.com www.firstnationsequity.com. Finline Technologies Ltd. is a designer and manufacturer of broadband wireless systems, focusing on MMDS "Wireless Cable" solutions for the provision of video, voice, and high speed Internet services. Based in Waterloo, Ontario, 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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