Platinum Adds to Its Professional Services Portfolio for Commercial Clients
CALGARY, AB / ACCESSWIRE / May 11, 2015 / Platinum Communications Corporation (TSX VENTURE: PCS) announced today that it has entered into a Letter of Intent to acquire the operating assets of Ironclad TEK (Ironclad) for $500,000. With this acquisition, generating revenues in excess of $3,000,000 annually, Platinum can now provide its portfolio of large commercial clients in oil and gas, agriculture, financial services and health care a comprehensive array of product and service offerings. These products and services include: professional IT Consulting; leading edge data and telecommunications equipment; 24/7 network monitoring; and an innovative cloud-based Infrastructure As A Service (IAAS) offering. The existing management and consulting team of Ironclad will be joining Platinum.
"We are very excited about the addition of Ironclad's professional expertise to Platinum's commercial Information and Communication Technology (ICT) services. Platinum now has the capacity to design, engineer, construct and manage secure broadband networks, from our customers' head offices to their high-value assets in remote locations throughout the province. Platinum's vision is to be Western Canada's leader in "End-to-End" ICT solutions," declares Bernard Parkinson, CEO.
This acquisition, which is subject to the execution of a formal agreement, is expected to close within the next 60 days, and is subject to due diligence and other closing conditions that are standard for this type of transaction.
ABOUT PLATINUM COMMUNICATIONS
Platinum Communications Corporation (TSX VENTURE: PCS) is a leading provider of superior quality fixed wireless Internet and Broadband solutions in Alberta. Based in Calgary, Platinum operates a custom-built wireless broadband network that utilizes Next-Generation WiMax technology to bring fast, reliable and affordable Internet services and digital phone solutions to residents and businesses across the Province using licensed and unlicensed spectrum that extends from the north of Grande Prairie to the Alberta/US border and from Medicine Hat to Banff. Platinum caters to urban, rural and remote markets that are often beyond the reach of traditional Internet providers. For more information, please visit our website at www.platinum.ca or call 403-301-4590.
This news release may contain forward-looking statements. These forward-looking statements do not guarantee future events or performance and should not be relied upon. Actual outcomes may differ materially due to any number of factors or uncertainties, many of which are beyond Platinum's control. Some of these risks and uncertainties may be described in Platinum's corporate filings (posted at www.sedar.com). Platinum has no intention or obligation to update or revise any forward-looking statements due to new information or events. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contact:
Bernard Parkinson, CEO
Phone (403) 301-4590
Katherine Kirkup, CFO
Phone (403) 301-4594
SOURCE: Platinum Communications Corporation
