Vecima Buys Into WiMax Firm

Vecima acquires investment in Redline Communications

October 31, 2008

1 Min Read

VICTORIA, British Columbia -- Vecima Networks Inc. ("Vecima or the Company") (TSX:VCM), a leading provider of equipment supporting broadband access to cable, wireless and telephony networks, today announced it has acquired common shares of Redline Communication Group Inc. (TSX:RDL) ("Redline") through the facilities of the Toronto Stock Exchange, following which, Vecima now owns 1,742,600 or 11.37% of the common shares of Redline (based on 15,327,140 common shares reported by Redline as outstanding).

The shares were acquired for investment purposes. Vecima believes its investment in Redline will ultimately pay off as the financial markets stabilize and technology roadmaps become clearer with Redline. Vecima, which is acting alone in its investment acquisition, may increase its investment to less than 20% of Redline's common shares. Vecima has no confidential information with respect to Redline.

Vecima Networks Inc. (Toronto: VCM)

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like