Grayling to Acquire Stone Mountain, Ltd.; Stone Mountain Brings Earnings, Management, New Products and Enhanced Level of Hardware Expertise to Grayling.CALGARY, Alberta -- Grayling grayling, common name for a brilliantly colored fish belonging to the genus Thymallus, of the family Salmonidae (salmon family), and closely allied to the smelt. Graylings are found chiefly in clear, cold, fresh waters of the Northern Hemisphere. Wireless USA, Inc. (Pink Sheets:GRYW) announced today that it has entered into an agreement to acquire Stone Mountain, Ltd., a privately-held Virginia corporation. Located in Huddleston, Virginia, Stone Mountain produces high quality, rugged and reliable land mobile radio (LMR LMR Land Mobile Radio LMR Labor-Management Relations LMR Last Minute Resistance LMR Living Marine Resources LMR Longmoor Military Railway (UK) LMR Liquid-Metal Reactor LMR Laser Magnetic Resonance ) products, designed and manufactured in the USA. All major OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and radio platforms are supported and compatible. The parties are moving forward expeditiously ex·pe·di·tious adj. Acting or done with speed and efficiency. See Synonyms at fast1. ex toward satisfying closing conditions and completing the transaction by August 21, 2006. "We see the acquisition as strategic as it brings together Grayling's ClearCalm(TM) Advantage system and Stone Mountain's Sword, Juno, Utah, Omaha and Gold LMR products creating a comprehensive, high quality, public safety audio accessory line," states Stone Mountain President and Founder, Bill Jennings Bill Jennings (born June 28, 1917 in Toronto, Ontario) is a retired professional ice hockey player who played 108 games in the National Hockey League. He played for the Detroit Red Wings and Boston Bruins. . He adds, "A major consideration in our decision to proceed with the acquisition is that Grayling will maintain production of Stone Mountain products in the Huddleston, VA factory, ensuring a seamless transition and uninterrupted service to our valued customers." Future product design and development will benefit from the combined talent and efforts of the Stone Mountain/Grayling engineering teams. Jeff Love Jeff Bernett (born January 27, 1982), better known as Jeff Love, is a guitarist for the American pop/R&B band, The Rule. He began playing the guitar when he was 14 years old and soon after took lessons from Minneapolis musician Mark Arneson. , 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 Grayling Wireless USA, Inc. noted, "We are continually seeking to enhance our current and future product offerings by acquiring expertise and enhanced products in complimentary areas; Bill Jennings and the Stone Mountain team bring a tremendous amount of hardware expertise and market knowledge to our company. Grayling is committed to ensuring that superior market ready technologies are brought to the emergency responder markets. The mobile radio products of Stone Mountain are an outstanding example of this commitment." Mr. Love went on to state, "We are extremely pleased to welcome the dedicated and talented Stone Mountain staff to the Grayling team and we place a high value on having a U.S. base of operations Noun 1. base of operations - installation from which a military force initiates operations; "the attack wiped out our forward bases" base air base, air station - a base for military aircraft army base - a large base of operations for an army . In our view, this acquisition is strategically aligned with the high profitability and growth expectations for our ClearCalm operating division. The timing of this acquisition is extremely beneficial as we are on the verge On the Verge (or The Geography of Yearning) is a play written by Eric Overmyer. It makes extensive use of esoteric language and pop culture references from the late nineteenth century to 1955. of full commercial production of our ClearCalm(TM) Advantage-S system." About GRYW: Grayling, based in Calgary, Alberta, is an innovator and integrator of emerging technologies. Our goal is to seek out and evaluate growth opportunities, including mergers and acquisitions that add incremental shareholder value, extend the company's market share and add to its technical competencies. Grayling will continue to bring market ready technologies and services to its markets. For further information, visit www.gryw.com For further information on ClearCalm(TM), visit www.clearcalm.com For further information on Stone Mountain, visit www.stonemountainltd.com This press release contains forward-looking statements within the definition of section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Act of 1934, amended. These forward-looking statements should not be used to make an investment decision. |
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