TORONTO, June 13, 2014 /CNW/ - Redline
Communications (www.rdlcom.com Group Inc. TSX: RDL - "Redline"
or the "Company"), a leading provider of mission-critical wireless
networks, announced today that it received approximately CDN
$2.1 million in consideration from
the exercise of previously issued warrants.
These warrants represent the last of the "First Warrants" issued
as part of the Company's private placement announced in April
2011.The warrants had an expiry date of June
10, 2014, and therefore no First Warrants remain
outstanding. The exercise price was CDN $2.30 per share and the aggregate number of
shares issued as a result of the warrant exercise is 910,325 common
shares in the capital of the Company. The warrants have previously
been reported in the Company's financial statements and management
discussion and analysis and as a result, the total potential
diluted common shares outstanding have not changed as a result of
this warrant exercise. Subsequent to the warrant exercise, Redline
currently has 16,664,255 common shares issued and outstanding, and
19,401,254 shares fully diluted.
About Redline
Redline Communications (www.rdlcom.com) is the creator of
powerful wide-area wireless networks for the most challenging
applications and locations. Used by oil and gas companies to
manage their assets, militaries for secure battlefield
communications, municipalities to remotely monitor highways,
utilities and other infrastructures, and telecom service providers
to deliver premium services, Redline's powerful and versatile
networks reliably and securely deliver voice, data, M2M and video
communications for mission-critical applications.
Forward Looking Statements
Certain statements in this release may constitute
forward-looking statements or forward-looking information within
the meaning of applicable securities laws. In some cases,
forward-looking statements can be identified by terms such as
"could", "expect", "may", "will", "anticipate", "believe",
"intend", "estimate", "plan", "potential", "project" or other
expressions concerning matters that are not historical facts.
Readers are cautioned not to place undue reliance upon any such
forward-looking statements.
Such forward-looking statements are not promises or
guarantees of future performance and involve both known and unknown
risks and uncertainties that may cause the actual results,
performance, achievements or developments of Redline to differ
materially from the results, performance, achievements or
developments expressed or implied by such forward-looking
statements. Forward-looking statements, by their nature, are based
on certain assumptions regarding expected growth, management's
current plans, estimates, projections, beliefs, opinions and
business prospects and opportunities (collectively, the
"Assumptions"). While the Company considers these Assumptions
to be reasonable, based on the information currently available,
they may prove to be incorrect.
SOURCE Redline Communications Group Inc.