02/18/03 Koala Announces Change of Officers
TORONTO--(BUSINESS WIRE)--Feb. 18, 2003--Koala International Wireless, Inc. ("Koala" or the "Company") (KIWI - news) announced today that it has accepted the resignation of K. Andrew White as Chief Executive Officer and a Director of the Company. Koala is currently in the process of reorganizing its corporate management and capital structure. Mr. White has left the Company to pursue other interests. Miguel Caron, the President of the Company, will assume Mr. White's management responsibilities.
About Koala: Koala is developing an International Mobile Virtual Network Operator (IMVNO) platform to allow the delivery of voice, data and Short Messaging over multiple networks. Concurrent with the IMVNO development, Koala is pursuing the development of applicable devices to serve the network subscribers. The IMVNO strategy will enable subscribers to access the Internet, play and store MP3, utilize existing applications including calendaring, contact management systems, email and Short Messaging and additional functionality, some not currently available in the marketplace.
This material includes forward-looking statements based on management's current reasonable business expectations. In this document, the words "will," "upon," "develop(ment)" and similar expressions identify certain forward-looking statements. These statements are made in reliance on the Private Securities Litigation Reform Act, Section 27A of the Securities act of 1933, as amended. There are numerous risks and uncertainties that could result in actual results differing materially from expected outcomes. The material should be read in conjunction with the Company's current annual and quarterly reports filed with the SEC, which contain discussions of currently known factors that could significantly impact the Company's future expectations.
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