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Redline Receives Financing to Support WiMAX and Broadband Wireless Infrastructure Product Development

Posted on: Wednesday, 24 June 2009, 06:00 CDT

All figures in Canadian dollars unless specified

TORONTO, June 24 /PRNewswire-FirstCall/ - Redline Communications Group Inc. ("Redline" or "the Company"), (TSX: RDL), a leading provider of WiMAX and wireless broadband solutions today announced it has signed an agreement with the Ontario Ministry of Economic Development for $10 million in financing to support the ongoing development of its WiMAX and Broadband Wireless Infrastructure (BWI) products. The repayable loan has been provided through the Ontario Ministry of Economic Development's Advanced Manufacturing Investment Strategy (AMIS) program.

"This government loan will help Redline remain at the forefront of the broadband wireless industry worldwide, and allow it to further grow its design and development capability for 'Fourth Generation' (4G) commercial, military and government broadband wireless networks," said Mihnea Moldoveanu, Redline's Founder and Chief Strategy Officer.

Redline's broadband wireless products include a complete family of WiMAX solutions that have achieved certification through the WiMAX Forum, an international consortium of broadband industry manufacturers and telecommunications carriers. It is also developing a mobile WiMAX solutions based on the IEEE 802.16e standards for WiMAX technologies. Redline's broadband wireless infrastructure solutions enable long-range, high-bandwidth connections that support advanced communications services such as voice, video and data applications. Redline is focused on working with service providers in emerging markets to bring broadband communications to places where there is limited or no existing infrastructure.

"With this funding, we believe that we can execute on our long-term growth and product development strategies," said Majed Sifri, President and Chief Executive Officer, Redline Communications Inc.

About Redline Communications

Redline Communications (www.redlinecommunications.com) is the leading provider of fixed and mobile standards-based wireless broadband solutions. Redline's RedMAX(TM) WiMAX Forum Certified(TM) system, RedMAX 4C Mobile WiMAX(TM) products, and its award-winning broadband wireless infrastructure family of products - RedCONNEX(TM) and RedACCESS(TM) - enable service providers and other network operators to cost-effectively deliver high-bandwidth services, including voice, video and data communications. Redline is committed to maintaining its wireless industry leadership with the continued development of WiMAX and other advanced wireless broadband products. With more than 100,000 installations in 85 countries, and a global network of over 170 partners, Redline's experience and expertise helps service providers, enterprises and government organizations roll out wireless broadband networks to support advanced communications.

Forward-Looking Statements

Certain statements in this release, including the guidance provided above, constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws and are made pursuant to the "safe harbour" provisions of such laws. These statements are subject to certain assumptions, risks and uncertainties. Readers are cautioned not to place undue reliance on such statements. Risk factors that may cause the actual results, performance, achievements or developments of the Company to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements can be found in the public documents filed by the Company from time to time with Canadian securities regulatory authorities. In particular, actual results could differ materially from those expressed in any forward-looking statements. Downturns in the economy or geopolitical uncertainties may cause customers to delay or cancel projects. For a more complete list of risk factors, please refer to Redline's Annual Information Form dated March 31, 2009. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

NOTE: All registered and unregistered trademarks mentioned in this release are the property of their respective owners.

SOURCE Redline Communications Group Inc.

Source: PR Newswire

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