Wi2Wi is Awarded First Production Order from another Major Global Leader in Medical Devices
09 Mai 2013 - 1:45PM
Business Wire
Wi2Wi Corporation ("Wi2Wi" or the "Company") (TSX-V: YTY) is
pleased to announce that a leading global pharmaceutical company
with a substantial medical diagnostic division has placed
its first production order for 10,000 units of Wi2Wi’s
Single-Antenna WiFi-Bluetooth product for delivery in June
of 2013. The expected annual sales of this first design win
with this Marquee Customer are up to 50,000 units annually. Wi2Wi
expects other potential opportunities with this customer in the
future.
Dr. Hans Black, Chairman of Wi2Wi, stated, “It is most
gratifying that our marketing and sales efforts have resulted in
the placement of one of our superior products within a development
project by one of the global leaders in health care monitoring and
testing. It is also a reflection of our ability to understand
customer needs and develop the appropriate solution. My
congratulations to the Wi2Wi team that made this possible.”
Dr. Reza Ahy, Chief Executive Officer, stated that, “We have
been systematically building up a pipeline of quality
customers and industry leaders. Wi2Wi is currently engaged with
over 30 Tier-1 customers worldwide (as part of Wi2Wi's over 200
customers) to identify opportunities and to create solutions for
each. This is a clear indication that our marketing programs and
our ability to address specifically identified opportunities are
successful. The connected medical device market is a multi-billion
dollar opportunity, and is growing at a fast pace. In order to
control costs, health care providers are looking to enhance their
ability to gather data in real time from patients and medical
equipment, for control and optimization of their resources.”
He further stated that “this order is another milestone in the
development of Wi2Wi as a quality provider of miniaturized embedded
wireless connectivity solutions for the Medical Devices Markets
worldwide.” Wi2Wi is already a supplier to other Major Fortune-500
Companies in this market.
Wi2Wi designs, manufactures and markets miniaturized embedded
wireless connectivity solutions (incorporating both hardware and
software) for premium industrial, medical, infrastructure
(including smart-home/smart building) and government markets
worldwide. Wi2Wi’s products and value-added services provide highly
integrated, multifunctional wireless sub systems as complete
wireless connectivity solutions for the Machine-to-Machine and
portable device applications globally.
For further information, please contact:
Dr. Reza Ahy
Chief Executive Officer
(408) - 416-4200
reza@wi2Wi.com
Forward-Looking Statements: This news release contains certain
forward-looking statements, including management's assessment of
future plans and operations, and the timing thereof, that involve
substantial known and unknown risks and uncertainties, certain of
which are beyond the Company's control. Such risks and
uncertainties include, without limitation, risks associated with
oil and gas exploration, development, exploitation, production,
marketing and transportation, loss of markets, volatility of
commodity prices, currency fluctuations, imprecision of reserve
estimates, environmental risks, competition from other producers,
inability to retain drilling rigs and other services, delays
resulting from or inability to obtain required regulatory approvals
and ability to access sufficient capital from internal and external
sources, the impact of general economic conditions in Canada, the
United States and overseas, industry conditions, changes in laws
and regulations (including the adoption of new environmental laws
and regulations) and changes in how they are interpreted and
enforced, increased competition, the lack of availability of
qualified personnel or management, fluctuations in foreign exchange
or interest rates, stock market volatility and market valuations of
companies with respect to announced transactions and the final
valuations thereof, and obtaining required approvals of regulatory
authorities. The Company's actual results, performance or
achievements could differ materially from those expressed in, or
implied by, these forward-looking statements and, accordingly, no
assurances can be given that any of the events anticipated by the
forward-looking statements will transpire or occur, or if any of
them do so, what benefits, including the amount of proceeds, that
the Company will derive there from. Readers are cautioned that the
foregoing list of factors is not exhaustive. Additional information
on these and other factors that could affect the Company’s
operations and financial results are included in reports on file
with Canadian securities regulatory authorities and may be accessed
through the SEDAR website (www.sedar.com).
This news release contains “forward-looking statements” within
the meaning of applicable securities laws relating to, among other
things, the Proposed Transaction. Readers are cautioned not to
place undue reliance on forward-looking statements. Actual results
and developments may differ materially from those contemplated by
these statements. Completion of the Proposed Transaction described
herein is dependent on a number of factors and is subject to a
number of risks and uncertainties, and it is not certain that the
Proposed Transaction will be completed. Factors that could cause
actual results to differ materially include, but are not limited
to, changes in the Company`s or Wi2Wi’s business, general business,
economic and competitive uncertainties and delay or failure to
receive board, shareholder or regulatory approvals.
Forward-looking statements are made based on management’s
beliefs, estimates and opinions on the date the statements are made
and the Corporation undertakes no obligation to update
forward-looking statements and if these beliefs, estimates and
opinions or other circumstances should change, except as required
by applicable law. All subsequent forward-looking statements,
whether written or oral, attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these cautionary statements. Furthermore, the forward-looking
statements contained in this news release are made as at the date
of this news release and the Company does not undertake any
obligation to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required by applicable
securities laws.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Common Shares: 80,480,380
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