|By Marketwired .||
|January 17, 2014 07:40 PM EST||
CALGARY, ALBERTA -- (Marketwired) -- 01/17/14 -- Times Three Wireless Inc. (TSX VENTURE: TTW) ("Times Three" or the "Company") announces that due to continuing financial constraints facing the Company it has terminated the employment of four employees in its Calgary office, including three technical staff and the Chief Operating Officer. It is anticipated that some of these former employees may continue to assist the Company on a consulting basis.
The Board of Directors is continuing its strategic review of Times Three's intellectual property licensing business and its network operations business. As part of this review, the Board will consider seeking strategic investment partners and/or the divestiture of all or part of its intellectual property licensing business and/or its network operations business.
About Times Three
Times Three, originally founded in 1995 as Cell-Loc Inc., is a technology innovation and licensing company based in Calgary. It has a long history of innovation and successful product development in wireless location technologies and continues to hold its portfolio of important patents and intellectual property.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS:
Certain statements contained in this news release constitute forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Times Three's control including the impact of general economic conditions, industry conditions, currency fluctuations, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources,. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Times Three's actual results, performance or achievement could differ materially from those expressed in or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits Times Three will derive therefrom.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, Times Three disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
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 release.
Times Three Wireless Inc.