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Drool, Britannia? Is the UK Failing the Cloud?
By Roger Strukhoff
Richard Davies wrote: The UK has a good crop of technology pioneers in cloud computing - for example ElasticHosts, FlexiScale, Flexiant, OnApp - and also some strong government initiatives such as G-Cloud. We will have to see whether this kind of technical leadership converts into swift mass-market adoption or not.
Jan. 8, 2012 11:38 AM EST
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From the Wires
Wireless Age Acquires Control of Sunbay Energy Corp.

By: Marketwire .
Jun. 7, 2010 05:18 PM

TORONTO, ONTARIO -- (Marketwire) -- 06/07/10 -- Wireless Age Communications, Inc. (PINK SHEETS: WLSA), ("Wireless Age" or "the Company") announced today that it has acquired 70% of Sunbay Energy Corp. ("Sunbay").

Newlook Industries (TSX VENTURE: NLI), a major shareholder of Wireless Age, announced on June 4, 2010 that its discussions with Copernic had ceased regarding the sale of Sunbay.

Newlook also announced that it has entered into a letter of intent to acquire the Fanotech Manufacturing Group. As part of an overall restructuring of the intercompany debt between Newlook and Wireless Age, the Company, through a subsidiary, will have the exclusive U.S.A. rights to all Fanotech products. In addition, through a controlling 70.1% stake in Sunbay, the Company will have the exclusive rights to a leading turbo torch technology in Canada. Newlook will own 19.9% and Powerplay will retain a 10% carried interest. The only exclusion is the project involving the First Nations involvement in New Brunswick.

Currently, Sunbay has several waste-to-energy projects under consideration and expects to announce further details on these initiatives shortly.

The total consideration for this is being paid out of Newlook assets other than a CDN$400,000 2 year note convertible at $0.15 per share in Wireless Age stock.

John G. Simmonds, Wireless Age CEO stated, "There has been significant progress over the last few months on various Sunbay projects. We are confident that the necessary relationships being established will provide the necessary funding and talent to establish ourselves in the waste-to-energy sector. The Company has the right to change the name from Wireless Age to Sunbay Energy in the near future and develop a global strategy to become a major force in this exciting industry."

Jordan Oxley, President of Sunbay further commented that, "We've enjoyed working with the Wireless Age group over the last two years and look forward to the development of the first of many projects utilizing our access to a superior plasma torch technology."

Note: This press release contains "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on currently available competitive, financial and economic data and management's views and assumptions regarding future events. Such forward-looking statements are inherently uncertain. Wireless Age Communications, Inc. cannot provide assurances that the matters described in this press release will be successfully completed or that the company will realize the anticipated benefits of any transaction. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to: global economic and market conditions; the war on terrorism and the potential for war or other hostilities in other parts of the world; the availability of financing and lines of credit; successful integration of acquired or merged businesses; changes in interest rates; management's ability to forecast revenues and control expenses, especially on a quarterly basis; unexpected decline in revenues without a corresponding and timely slowdown in expense growth; the company's ability to retain key management and employees; intense competition and the company's ability to meet demand at competitive prices and to continue to introduce new products and new versions of existing products that keep pace with technological developments, satisfy increasingly sophisticated customer requirements and achieve market acceptance; relationships with significant suppliers and customers; as well as other risks and uncertainties, including but not limited to those detailed from time to time in Wireless Age Communications, Inc. SEC filings. Wireless Age Communications, Inc. undertakes no obligation to update information contained in this release. For further information regarding risks and uncertainties associated with Wireless Age Communications, Inc.'s business, please refer to the risks and uncertainties detailed from time to time in Wireless Age Communications, Inc.'s SEC filings.

Contacts:
Wireless Age Communications, Inc.
John G. Simmonds
Chairman & CEO
905-833-2753 ext. 223

Published Jun. 7, 2010— Reads 265
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