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VisionGlobal Corp. Announces Final Merger Approval for the Acquisition of Lone Peak Research SAN FRANCISCO--(BUSINESS WIRE)--Nov. 26, 1999--VisionGlobal Corp., (OTCBB:VIZG - news) a high-speed ''broadband'' wireless network solution provider today announced the final approval from the States of Nevada and Utah for the acquisition/merger of Lone Peak Research. As previously announced, Lone Peak Research owns the intellectual property rights to ''broadband'' wireless technology it has developed over the last two years. This technology includes 25 Mbps license-free data radios that operate in a point-to-point, point-to-multipoint and multipoint-to-multipoint network configuration with the ability to intelligently route data packets throughout the network. The Lone Peak 25 Mbps product is in the final development phase and will be completed in the summer of 2000 with an initial rollout in the Greater San Francisco Bay Area including Silicon Valley. VisionGlobal will rename Lone Peak Research, VisionLabs, and will own 100% of the intellectual property and patents associated with the final development. The company is preparing to deploy and fully market its ''broadband'' high-speed wireless solution to 50 cities throughout the United States and several international countries. The Company believes there is an increasing demand for wireless connectivity and feels that with its technology it can become a leading network provider of ''broadband'' high-speed wireless solutions and services globally. Note: Any statements released by VisionGlobal Corp. that are forward-looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties. Actual results may differ materially from such forward-looking statements as a result of risks and uncertainties that may affect the Company's business prospects and performance. These include, but are not limited to, economic, competitive, governmental, technological and other factors discussed in the statements and in the Company's filings with the Securities and Exchange Commission. VisionGlobal Network Corporation Joseph W. Hipple III, CEO 415-955-0585 or hipple@visionzoom.com For further Company information, please Email us at info@visionzoom.com and visit our website at: www.visionzoom.com | ||||||||||||
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