Mar. 22, 2011 (Marketwire Canada) --
VANCOUVER, BRITISH COLUMBIA -- WebTech Wireless Inc. (TSX:WEW) (the "Company") announced today that, in connection with the previously announced requisition of a general meeting of the shareholders of the Company, the committee of independent directors (the "Special Committee") established by the Board of Directors has retained Raymond James Ltd. as financial advisor to assist the Special Committee in reviewing all of the Company's strategic alternatives. Goodwood Inc. requisitioned a general meeting of the shareholders to consider and vote upon the election of directors.
The Special Committee has also retained Laurel Hill Advisory Group LLC to act as proxy solicitors in connection with the requisitioned meeting, and Blake, Cassels & Graydon LLP to act as legal counsel to the Special Committee.
The Board of Directors will announce the date of the general meeting in response to Goodwood's requisition on or before April 4, 2011.
About WebTech Wireless ®
WebTech Wireless Inc. (TSX:WEW) is a provider of vehicle fleet location-based services (LBS) and telematics technology. It develops, manufactures and supports end-to-end wireless solutions that improve the productivity, profitability, environmental compliance and safety of vehicle fleets. Its comprehensive suite of products and services include: automatic vehicle location (AVL), mapping, vehicle diagnostics, CO2 reporting, navigation, messaging, and mobile resource management. The Company serves customers of all sizes in the transport, government, service, insurance and OEM markets in over forty-one countries, including Fortune 500 companies. Specialized products include: Quadrant® commercial fleet solutions, InterFleet® solutions for government, and NextBus® real-time passenger information services for transit fleets. For more information, please visit www.webtechwireless.com.
This News Release may contain forward-looking statements involving risks and uncertainties pertaining to, but not limited to, product plans, timing, content, pricing of products, market and industry expectations, the wireless communications and mobile fleet industries, and general economic and political conditions. Given the risks and uncertainties inherent in the markets and industries referred to in this News Release, WebTech Wireless cannot guarantee that any forward-looking statements will be realized. All amounts in Canadian dollars (CAD$) unless otherwise noted. Trademarks are the property of their owners.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
Laurel Hill Advisory Group
Toll Free Number: 1-877-452-7184
The Equicom Group Inc.
Ross Marshall, Senior Vice President
+1 416.815.0700 ext 238