Wialan Technologies Signs Letter of Intent to Expand Business Into South America
16 September 2013 - 1:00PM
Marketwired
Wialan Technologies (OTC Pink: ACYD) ("the Company"), a next
generation wireless telecommunications provider, announced today
that it has signed a non-binding Letter of Intent ("LOI") with
Eugene Rostov to form a jointly-owned company to continue the
expansion of business into South America with a joint venture in
Brazil. The new joint venture company would be 50% owned by Wialan
Technologies and 50% owned by Eugene Rostov.
Subject to due diligence and the subsequent signing of a
definitive Joint Venture Agreement, the terms of the LOI anticipate
the Company will provide training for the sales, use, and
installation of its products and technology. Eugene Rostov would
provide the funding and staff to sell the company's products and
services in Brazil.
Timothy Peabody, CEO of Wialan, commented, "The Wialan-Rostov
partnership reflects a powerful combination of Wialan's
technological leadership and the impressive potential customer
network and deep customer understanding that Mr. Rostov has
achieved."
"We believe this new joint venture provides us with an ideal
opportunity to enhance Wialan's growth in an area which we believe
will be a key growth market in the future. This partnership is
another step towards paving the way for Wialan to achieve the
long-term vision of becoming a leading global supplier of WIFI
technology," concluded Mr. Peabody.
About Eugene Rostov
Eugene A. Rostov is President and CEO of E. Rostov &
Associates LLC. He has spent his career focused on advising clients
on cross-border mergers and acquisitions, privatizations, and joint
ventures.
Prior to founding E Rostov & Associates, Mr. Rostov worked
thirty-eight years in the international law firm of Baker &
McKenzie. He practiced in the São Paulo, Brazil office of Baker
& McKenzie for fourteen years and then founded the Miami office
of that Firm in 1984. His experience includes representing clients
in mergers and acquisitions, international trade, export and import
transactions, transfers of technology, aviation, transportation,
telecommunications, and financing in both the public and private
sectors with clients located in Latin America, the United States,
Europe and Asia.
About Wialan Technologies
Wialan, a next generation wireless telecommunications provider,
is poised for exponential growth from their five years of
successful R&D, sales, and installations of their impressive
WIFI solutions spanning10 countries. They have established a track
record of successful installations in airports, municipalities,
apartment buildings, parks, marinas and other locations that
require a superior and more robust communication footprint than
conventional WIFI providers. Among the outstanding features
available with Wialan's wireless 802.11n 300 Mbps solutions is the
capability of real-time live color video streaming for many
simultaneous end users, which can help companies with video on
demand services, like Netflix, to deliver wireless services without
use of the Internet. For more information, please visit
www.wialan.com.
Safe Harbor Statement
Except for historical information contained herein, the
statements in this press release are forward-looking statements
that are made pursuant to the safe harbor provisions of the Private
Securities Reform Act of 1995. Forward-looking statements involve
known and unknown risks and uncertainties, which may cause the
company's actual results in future periods to differ materially
from forecasted results. These risks and uncertainties include,
among other things, product price volatility, product demand,
market competition, risk inherent in the company's domestic and
international operations, imprecision in estimating product
reserves and the company's ability to replace and expand its
holdings.
Company Contact Timothy Peabody Chief Executive Officer
Phone: 888-407-7762 Email: partners@wialan.com Agency
Contact Pam Lagano Lagano & Associates, Inc.
plagano@wialan.com
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