TKRN - TEKRON INC - Letter Of Intent With Land Connect Dominican Communications S.A.
New York, New York, Aug 23, 2001 (Market News Publishing via COMTEX) -- TEKRON,
INC. announced that it has entered into a Letter of Intent with Land Connect
Dominican Communications S.A., a division of Land Connect Caribbean
Communications, S.A. for purposes of forming a joint venture for the
installation of broadband wireless systems focusing on MMDS "Wireless Cable"
solutions for the broadcast of video, voice and high speed data services.
The joint venture will immediately cover the territory of the Dominican Republic
and next year to other islands located in the Caribbean. Tekron, Inc. has
retained Adams and Guzman, a leading law firm in the Dominican Republic for
purposes of completing a definitive agreement which is expected to occur prior
to 30 September 2001. This strategic joint-venture offers Tekron, Inc., a
dynamic opportunity to access the Dominican Republic telecom market that has an
approximate value of US $1 billion per annum with one of Dominican Republic's
leading telecom companies.
This announcement contains forward-looking statements that involve risks and
uncertainties, including those relating to the Company's ability to develop and
expand its business. Actual results may differ materially from the results
anticipated and reported results should not be considered as an indication of
future performance. The potential risks and uncertainties include, among other
things, the Company's limited operating history, its limited financial
resources, intense competition within the technology industry, incapacity to
market and develop its technological capacities, difficulties and risks
associated with operating in foreign jurisdictions, domestic and global economic
conditions and conditions of the equity markets. More information about the
potential factors that could affect the Company's business and financial results
is and will be included in the Company's filings with the Securities and
Exchange Commission.
CONTACT: TEL: (813) 221-2779 Wall Street Daily Press, Mr. Michael Mu
io
FAX: (813) 221-4505
TEL: (416) 679-0707 TEKRON, INC., William P. Refalas, Dire
tor |
