Cellvine Ltd., an Israeli company with investors including Peregrine
Ventures, Stratum Wealth Management and U.S. entrepreneur Dr.
Upon completion of the transaction, the ratio between the shareholding of current shareholders of Cellvine and current shareholders of Wi-Tron will be 85 to 15, on a fully diluted basis.
The transaction is subject to various conditions, including obtaining the approval of shareholders of each of the companies, obtaining required financing, certain other Israeli government and third party consents as well as customary closing deliveries.
Yoni Schiff, CEO of Cellvine Ltd, added, "Cellvine has developed a leading suite of wireless coverage products and adding Wi-Tron's strong amplifier technology will allow us to provide unique and cutting edge outdoor coverage solutions to the civilian and defense markets. We are excited at the prospect of having Wi-Tron as part of our team."
About the Participating Companies:
Wi-Tron:
Wi-Tron, Inc. designs, manufactures and sells ultra linear single and multi-channel power amplifiers and broadband high-speed wireless products to the worldwide wireless telecommunications market. The single and multi- carrier linear power amplifiers, which are a key component in cellular base stations, increase the power of radio frequency and microwave signals with low distortion. Wi-Tron's products are marketed to the cellular, PCS, X-band, wireless local loop segments of the wireless telecommunications industry.
Cellvine:
Cellvine Ltd. is a vendor of wireless coverage solutions for the cellular industry. Cellvine provides a comprehensive set of products for advanced outdoor and in-building cellular coverage with industry leading remote management capabilities, eliminating the need for costly infrastructure replacement. Cellvine supports all the cellular technologies and has a full suite of both standard devices as well as leading edge DSP technology solutions.
About Forward-Looking Statements:
Certain information contained in this press release is forward-looking.
Actual results might differ materially from the forward-looking statements
contained in this press release. All forward-looking statements involve known
and unknown risks, uncertainties and other unknown factors. Any of these
factors could cause Wi-Tron's actual results to be materially different from
any future results expressed or implied by any forward-looking statement
contained in this press release. In addition to statements which explicitly
describe these risks and uncertainties, readers are urged to consider
statements labeled with the terms "believes," "belief," "expects," "intends,"
"anticipates," "plans," or "proposes," to be uncertain and forward-looking.
Forward-looking statements represent Wi-Tron's judgment as of the date of this
release. Actual results depend on Wi-Tron's ability to, among other things,
generate revenue, reduce operating losses, and successfully develop and
market its products. Factors that could cause actual events or results to
differ materially include, among others, the following: rapid technological
change that can adversely affect the demand for Wi-Tron's amplifiers, shifts
in customer demand, shifts in strategic relationships, delays in Wi-Tron's
ability to deliver its products to its customers, and Wi-Tron's ability to
market and distribute its amplifiers in
SOURCE Wi-Tron, Inc.