Concept Wireless appoints Allen vice-president
Concept Wireless Inc CEU
Shares issued 7,663,964 Nov 24 close $0.43
Mon 27 Nov 2000 News Release
Mr. William Jung reports
Concept Wireless has appointed Russ Allen as the company's vice-president
in charge of strategic business development for China. Mr. Allen has had an
extensive career with over 35 years of experience in the telecommunications
industry and for the past 17 years, he served as an executive
vice-president at Glenayre Electronics, Inc., a leading developer and
manufacturer of paging infrastructure systems. While at Glenayre, Mr. Allen
was in charge of implementing international sales strategies for overseas
markets and was responsible for placing more than $300-million (U.S.) in
paging systems throughout China.
The company holds an interest in a paging joint venture (Contour) that
operates paging systems in 13 major cities located throughout Shandong
province. It has in excess of 450,000 subscribers and is the second largest
paging network in the province. Earlier this year, Contour reached an
agreement to secure licences to provide two-way wireless messaging,
voice-over Internet protocol (VoIP) and Internet access (ISP) services.
This partnership will allow Contour to expand its paging business to
include two-way wireless messaging and to broaden its revenue base by
diversifying into ISP services and VoIP for long-distance telephone
services via the Internet.
Mr. Allen will oversee the opportunities for the implementation of a
complete line of new wireless system products and services. These products
and services include information retrieval pagers, wireless Web accessible
two-way text messaging pagers and high-speed wireless Internet connectivity
systems for high-speed wireless Internet access and wireless Internet
telephony using debit and prepaid calling card platforms.
Mr. Allen's accomplishments in China have provided him an in-depth
understanding of the Chinese telecommunications industry as well as many
years of experience in conducting business in China. His credentials and
well-established relationships with key government officials will also help
the company accelerate the deployment of the new wireless connectivity
technologies in this high growth market in China.
Financing
Management has been aggressively pursuing financing for its Chinese
projects and, while this has been proceeding very positively, the addition
of Mr. Allen to the management team will substantially enhance the
company's prospects. Mr. Allen will assist in presenting the company's
investment opportunities to potential financiers as well as to his network
of business contacts.
Due to current market conditions, the Contour Chinese partner has confirmed
in writing to extend until March of 2002 for the company to fulfill its
financial commitments to the joint venture.
Investor relation contract
The company has entered into an investor relation agreement with Meegan
Capital Group Inc. for the dissemination of the company's news and
announcements. The term of the agreement is for six months at $3,000 per
month and will be subject to all necessary regulatory approvals. |
