04/29/04 KIWI Network Solutions Inc. and Hashwani & Son Inc. Reach Joint Venture Memorandum of Understanding for the Country of Pakistan
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--April 29, 2004--KIWI Network Solutions, Inc., (KWNS - news) kwnsmobile.com, announced the signing of a Joint Venture Memorandum of Understanding with Hashwani & Son Inc., a private finance and technology distribution company based in Toronto with affiliate offices in Pakistan. The deal contemplates a revenue share agreement on the infrastructure sales, device sales and applications revenues generated once the new network is deployed and operational. The MOU represents the first step of a consortium being formed to include a series of new and emerging broadband transmission technologies and applicable wireless appliance technologies. The deal is conditional upon final board approval of each party and is subject to applicable jurisdictional licensing approvals.
KIWI is aggressively pursuing joint ventures for its wireless technology on an international and domestic level. The company has recently announced the addition of two new advisory panel members, Michael Sauvante and Admiral Robert T. Reimann.
Hashwani and Son Inc. is managed by a number of financial, technical and political experts with extensive international legal, technical and transactional experience in telecommunications. For more information on Hashwani and Son Inc. please go to the following link: pendyluminternational.com
KIWI is perfecting an International Mobile Virtual Network Operator (IMVNO) platform that enables the delivery of 2-Way VOICE/VIDEO/AUDIO/DATA/SHORT MESSAGING over Internet Protocol, Cellular, Short Messaging, 802.11B/G and other networks. KIWI is finalizing the development of applicable devices and peripherals. The technologies and hardware are compatible with all major cellular carriers, ISPs and virtual network companies.
This material includes forward-looking statements based on management's current reasonable business expectations. In this document, the words "can," "anticipates," 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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