What is your take on this????
News Release
August 14, 2006
KING COMMUNICATIONS INTERNATIONAL LIMITED
SIGNS LETTER OF INTENT
REGARDING THE SALE OF KCI TO DIGI LINK TECHNOLOGIES
King Communications International Limited (KCI) (CDNX: KCI), today announces that it has entered into a letter of intent to be acquired by Digi Link Technologies, Inc. (Digi Link), (OTC BB: DGLT)
Digi Link (www.digilinktechnologies.com) plans on combining advanced wireless data technology and Specialized Mobile Radio (SMR) services to create an intelligent and cost competitive wide area voice, data, and enhanced mobile services network (to be known as the INTELLICOM ® Network. It is anticipated that the INTELLICOM ® network will ultimately include access to a suite of competitively priced advanced mobile services such as remote database access and management, email, e-payment services, Internet access, AVL, Mobile Data, Voice radio, and public telephone interconnect over a wide geographic area.
Digi Link currently operates and manages 60 SMR Two Way Radio systems, as well as a Fixed Earth Station FCC satellite license. The Digi Link INTELLICOM ® wide area network, which is located in the Prudential Center in Boston, Mass, provides coverage for almost one-third of the United States.
Digi Link has also signed a letter of intent to acquire SmartLink Development Network, Inc. (located in Wallingford, Conn). Smartlink (www.smartlink.com) has developed a unique radio networking and trunking technology that offers the mobile radio industry and end users the ability to network independent sites, utilizing different protocols and radio frequencies, into a seamless wide-area cellular like system.
Under the new corporate structure, Digi Link/KCI/SmartLink combine a variety of cutting edge technologies, 220 Mhz frequency licenses, and proven Voice/Mobile Data/ and AVL systems that are in great demand by virtually all types of Utility, Business, and Fleet operations.
According to the letter of intent, SmartLink and KCI shareholders will exchange all of their shares for restricted shares of Digi Link’s Common Stock. The contemplated closing of the transaction is contingent upon receipt of funds generated through a private placement financing involving third party investor(s) for a minimum of $10,000,000 USD. Digi Link is currently entertaining a number of different proposals, but no firm commitment is in place.
KCI Director Bill Scott stated that “The marriage of Digi Link Technologies INTELLICOM ® network licenses with SmartLink’s state of the art wide area dispatch networking capabilities, with the mobile data technology of King Communications, is a powerful combination of licensed spectrum and advanced technologies that will provide the basis for the rapid and cost effective deployment of a highly advanced, competitively priced network services offering for fleet users. This should be a very positive long term step to the fulfillment of Digi Link’s business vision and growth”.
SmartLink Chairman Mark Hatten expressed the following “the contemplated transactions represent a significant step towards the offering of a needed solution for the fleet user market segment, namely a cost effective wide area dispatch service with enhanced data capabilities. Today, there is not apparent cost effective wireless mobile service offering that meets the unique demands of fleet customers. The INTELLICOM ® network should be embraced by the fleet customer market as well as other underserved specialized mobile markets”
“This was a logical step. Technology and a new recognized management team will allow Digi Link to expand nationally.” Said Peter Jegou, President & CEO of Digi Link Technologies. “We are pleased with the opportunity to fulfill our business plan, as a publicly traded company which we believe will enhance shareholder value and capital raising alternatives”.
Company Contact
For further information, please contact Bill Scott by telephone at (407) 293-1432, or via email at: kingbjs@aol.com, and visit our Website at: www.king-international.com
________________________________
Bob Geaghan, Chairman
King Communications International Limited
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Notice: This release contains forward-looking statements reflecting King’s expectations or beliefs concerning future events which could materially affect performance in the future. King cautions that these and similar statements involve risk and uncertainties and are qualified by important factors, including competitive pressures, unfavorable changes in regulatory structures, and general risk associated with business, which could cause actual results to differ materially from those in the forward-looking statements. Forward-looking statements are made in the context of information available as of the date stated. King undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as the occur. |
