Last updated on April 16, 2014 at 6:45 EDT

Mobilicity announces termination of Acquisition Agreement by TELUS

June 10, 2013
        --  Debtholders to vote on recapitalization plan on June 25, 2013

TORONTO, June 10, 2013 /CNW/ – Data & Audio-Visual Enterprises Holdings
Inc. and its affiliates (collectively, Mobilicity) today announced that TELUS has exercised its option to terminate the
TELUS Acquisition Plan.

Mobilicity also announced that it will now pursue its previously
announced recapitalization plan, which will be voted on by debtholders
at a meeting on June 25, 2013.

The company will continue to provide updates as warranted. Mobilicity
continues to deliver an affordable wireless experience to its
customers. For more information, please visit Mobilicity’s website at www.mobilicity.ca/investorrelations.

About Mobilicity (DAVE Wireless):

Mobilicity, Canada’s smart mobile carrier, was created to bring down the
cost of wireless with unlimited talk, text and data plans, affordable
North American coverage, plus popular handsets and smartphones -
without locking customers into contracts or charging extra or hidden
fees. Everything Mobilicity does adds up to a better wireless
experience, not an expensive one. NOW THAT’S SMART.

Formerly known as Data & Audio-Visual Enterprises Wireless Inc. (DAVE
Wireless), the company is led by Obelysk, a diversified Canadian
holding company, and Quadrangle Capital Partners, a global investor in
the telecommunications and media sectors. Mobilicity was named one of
Canada’s Top 25 Up and Coming Information & Communication Technology
start-ups in 2010 by the Branham Group Inc. Further information about
Mobilicity can be found at www.mobilicity.ca.

SOURCE Mobilicity

Source: PR Newswire