VANCOUVER, March 17, 2017 /CNW/ - Norsat International
Inc. ("Norsat" or the "Company") (TSX: NII and NYSE MKT: NSAT), a provider of unique and customized
communication solutions for remote and challenging applications, today announced that further to its news release of September 19, 2016, it has recently received a new indication of interest from Privet Fund Management LLP
("Privet"). Privet has provided a non-binding letter of interest to acquire the Company for cash consideration of
US$10.25 per share subject to due diligence, financing, the completion of a definitive agreement
and other conditions.
The Board, together with the Company's financial advisors and legal counsel, has been reviewing various strategic alternatives
and opportunities to maximize value for shareholders. The Board will consider and evaluate the non-binding indication of interest
from Privet as part of this ongoing process.
There can be no assurance that a transaction will be completed. The Company does not intend to make any further announcements
regarding a potential sale unless and until the Board has approved a specific transaction or other course of action requiring
disclosure.
About Norsat International Inc.
Founded in 1977, Norsat International Inc. is a leading provider of innovative communication solutions that enable the
transmission of data, audio and video for remote and challenging applications. Norsat's products and services include
leading-edge product design and development, production, distribution and infield support and service of fly-away satellite
terminals, microwave components, antennas, Radio Frequency (RF) conditioning products, maritime based satellite terminals and
remote network connectivity solutions. More information is available at www.norsat.com, via email at investor@norsat.com or by phone at 1-604-821-2800.
Forward Looking Statements
The discussion and analysis of this news release contains forward-looking statements concerning anticipated
developments in Norsat's operations in future periods, the adequacy of its financial resources and other events or conditions
that may occur in the future. Forward-looking statements are frequently, but not always, identified by words such as "expects,"
"anticipates," "believes," "intends," "estimates,", "predicts," "potential," "targeted," "plans," "possible" and similar
expressions, or statements that events, conditions or results "will," "may," "could" or "should" occur or be achieved. In
addition to statements about the expression of interest from Privet and a possible sale, these forward-looking statements
include, without limitation, statements about Norsat's market opportunities, strategies, competition, expected activities and
expenditures as it pursues its business plan, the adequacy of available cash resources and other statements about future events
or results. Forward-looking statements are statements about the future and are inherently uncertain, and actual achievements of
the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements due
to a variety of risks, uncertainties and other factors, such as business and economic risks and uncertainties. The
forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made.
Consequently, all forward-looking statements made in this news release are qualified by this cautionary statement and there can
be no assurance that actual results or anticipated developments will be realized. For the reasons set forth above, investors
should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this
news release and Norsat assumes no obligation to update or revise them to reflect new events or circumstances, other than as
required by law.
SOURCE Norsat International Inc.
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