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CinemaWorks Buys Into BPL

CinemaWorks acquires 51% of 3One Systems US, distributor of broadband over powerline gear

January 5, 2007

1 Min Read

VANCOUVER -- Cinema Internet Networks Inc. ("CinemaWorks") has signed an agreement, subject to regulatory approval, to acquire 51% of 3One Systems US Inc. ("3One Systems") for US$500,000 cash and 2,000,000 shares of the Company's common stock. 3One Systems is the U.S. Master Distributor of 3One Network's commercial in-building Broadband over Powerline access systems (BPL Access Systems). 3One Networks' BPL technology has won the Geneva International Invention Award and is currently in use by over 100,000 customers worldwide.

Headquartered in Seattle, WA, 3One Systems US has satellite offices in eight states with local installation and support capabilities across the entire US through its reseller partner network. Also in place is a robust operations and logistics infrastructure including 24/7 call center support for customers and installers. With 3One Systems recent successful deployments of 3One's next generation BPL Access Systems into numerous large high-rises in the US, the company is poised for full scale penetration into the U.S. and international markets.

"This acquisition is a rare opportunity for CinemaWorks and its shareholders. We think that 3One has a world-leading viable, secure, cost-effective and technically sound commercial BPL solution. Nothing less is required to serve a huge emerging market that includes timeshares, condominiums, apartments, hotels and other multi-unit structures," commented Bill Massey, CEO of CinemaWorks.

Massey continued, "Successful commercial BPL deployment requires that three crucial criteria be met: 1) seamless, fast and uncomplicated installation requiring very little assistance by a licensed electrician; 2) BPL modems with true broadband capability to deliver the triple play of VoIP, email/browsing, and IPTV; and 3) very competitive cost for equipment within the marketplace. 3One meets these criteria with flying colours."

Cinema Internet Networks Inc.

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