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.
