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Plaintree Announces $375,000 Commitment
TSE: LAN OTC BB: LANPF
OTTAWA, Nov. 27 /CNW/ - Plaintree Systems Inc. (Plaintree), a developer and manufacturer of Free Space Optical (FSO) wireless products, today announced a commitment for $375,000 from one of its VAIs (Value Added Integrator).
"This customer has indicated that they have chosen Plaintree's WAVEBRIDGE system for a number of reasons which include the ease and speed of installation of our products, excellent customer support as well as the various mounting options available for our system," said David Watson, President and CEO of Plaintree. "The wide footprint of the LED (Light Emitting Diode) beams in our products are easier to align and they also maintain alignment better than lasers in adverse weather conditions. And most importantly, the VAI has also indicated that similar orders will continue in the future."
About Plaintree Systems
Ottawa-based, Plaintree Systems Inc. (www.plaintree.com), founded in 1988, develops and manufactures the WAVEBRIDGE series of Free Space Optical wireless links using Class 1, eye-safe LED (Light Emitting Diode) technology providing high-speed network connections for ISPs, traditional telcos, GSM or cellular operators, airports and campus networks. Acting as a replacement for cable, fiber or radio frequency systems, the WAVEBRIDGE links offer broadband access with no spectrum interference problems, and same day installation for rapid network deployment.
Plaintree is publicly traded in Canada on the Toronto Stock Exchange and in the U.S. on the OTC:Bulletin Board, with 86,059,869 shares outstanding. Plaintree maintains a world-wide web site at https://www.plaintree.com.
This press release may include statements that are forward-looking and based on current expectations. The actual results of the company may differ materially from current expectations. The business of the company is subject to many risks and uncertainties, including changes in markets for the company's products, delays in product development and introduction to manufacturing and intense competition. For a more detailed discussion of the risks and uncertainties related to the company's business, please refer to documents filed by the company with the U.S. Securities and Exchange Commission and Canadian regulatory authorities, including the company's prospectus dated August 20, 2001.